Senior Actuarial Analyst

The Recruitment Council • Other • Other (Gauteng, South Africa) • $200 - $300 / year • 13h ago

Role: Senior Actuarial Analyst
Category: Actuarial
Location: Sandton
Salary: R 600 000 - R 792 000 Per Annum

Our client is on the lookout for a Senior Actuarial Analyst. The successful candidate will provide expert actuarial support while mentoring junior analysts. Utilizing actuarial models, you'll identify, evaluate, and address business challenges, offering effective solutions to improve profitability and policy growth.

Key Responsibilities:

Model Deployment and Testing:
- Lead the planning and implementation of system changes, collaborating with users to define needs and design solutions.
- Conduct impact and sensitivity analysis prior to deployments, translating results to inform business decisions on pricing adjustments.
- Oversee testing to ensure smooth deployment and track product performance.
Actuarial Modeling:
- Develop, maintain, and implement robust actuarial models to ensure accurate estimates.
- All models will be clearly documented, outlining scope, definitions, data sources, and assumptions.
- Ensure process documents are in place for stakeholders and to support new users, reducing the risk of errors in modeling.
Process Improvement and Innovation:
- Identify weaknesses in current practices and implement improvements.
- Stay current with industry developments and actively develop solutions to optimize efficiencies across the business.
- Share insights with the team to enhance actuarial techniques and business processes.
Business Requirement Identification:
- Work within the product development and pricing framework, handling the full actuarial control cycle from development through to monitoring.
- Manage key metrics such as embedded value, profitability by product line, and value of new business, ensuring assumptions align with experience.
Stakeholder Engagement:
- Engage with internal and external stakeholders to address product development needs and communicate project outcomes.
- Maintain measurable service levels and offer actionable feedback to address business issues.
Data Collection and Analysis:
- Extract and verify data for actuarial models, ensuring accuracy through reconciliation against credible sources like financial data.
- Provide recommendations to address potential business impacts.
Insights and Reporting:
- Prepare and present detailed reports and insights, ensuring regular validation against accurate data sources.
- Deliver actionable recommendations to stakeholders based on analysis.
Operational Compliance:
- Ensure compliance with organizational policies, relevant codes, and Actuarial Society of South Africa standards.
- Identify and address non-compliance issues within the team.
Mentorship and Capability Building:
- Provide technical guidance to junior staff, supporting their development and promoting process automation.
- Encourage team collaboration to improve overall performance.
Performance Management:
- Monitor team performance, ensure tasks meet deadlines, and uphold quality standards.
- Contribute to performance reviews and provide corrective action when needed.