| Description: |
There are opportunities to learn and grow in an exciting and diverse environment, ultimately enabling you to choose the area that best aligns with your core strengths. You can rest assured that our client will support you in your endeavours to qualify as an Actuary, and in addition to the generous support in your studies, also provide you with exposure to the full range of disciplines within the actuarial domain.
Roles and Responsibilities
The actuarial team is small, and the chosen candidate will be expected to support the Product Actuary, in managing, enhancing and expanding the Life product range. Your actuarial training will enable you to balance the requirements, in a professional manner, of the various stakeholders in our business, namely Regulators, Shareholders, Customers, Distribution Channels and Employees. By understanding the constraints that each of these groups brings you will ultimately assist in maximising the interests of each of these parties.
You will be responsible for all aspects of the product development cycle for the Life product range, including the introduction of enhancements to remain at the forefront of this market, as well implement a review methodology that enables us to objectively manage the emerging experience and price accordingly. You will be expected to engage actively with the market providing support to our distribution channels in the achievement of their objectives. Some of the key areas of focus will include:
- Engaging with the target customer and distribution segments and interpreting their insurance requirements, then designing and pricing suitable solutions that offer tangible value. You will develop an understanding of the complexities of distributing and pricing for risk in these markets and balance the requirements of shareholders, customers and staff
- Included in the above, is a regular review of the experience of the customer segment, and a quantification of how assumptions compare to actual experience.
- You will be expected to engage with the reinsurers, eliciting support as required, and concluding negotiations around treaties and therefore the sound financial management of the business
- By understanding the variables that ultimately affect the business, and thereby the requirements of each of the Stakeholders, you will be in a position to model the office into the future, providing management with useful insights on how best position themselves in a competitive environment
- You will be expected to expand the product range into other areas, like investments, and, have had exposure to the pricing and competitive requirements in this regard.
- A number of complex modelling tools have been developed to support the actuarial function in fully appreciating the complexity of a book of business. Our client uses Prophet, and while Prophet experience is preferable – an aptitude to work with Prophet is essential
- You will have, as a minimum, an understanding of how integrated solutions can provide valuable insight into the emerging experience of the book of business. Even better you will have worked in an environment where additional factors throughout the life of a customer are used to better rate the customer
Requirements
- Be registered with the Actuarial Society of South Africa, and completed a recognised degree in pursuit of an Actuarial Qualification
- You should have a minimum 4 years actuarial work experience with at least 2 of those in a product development or product marketing role, including exposure to role and requirements of underwriting
- Highly numerate, excelling in mathematical subjects at school and university
- Must be fully computer literate and have advanced Excel skills
- Prophet skills are preferable. Where this experience has not been obtained, there must be an aptitude and commitment to acquiring these
- Performance driven, including an ability to work under pressure especially where tight deadlines exist
- Effective communication skills and ability to communicate at various levels within an organisation
- Self motivated and enthusiastic, being able to work within a team structure as well as independently as required
For more information contact david@foolix.co.za
|
