Join a dynamic team responsible for leading Actuarial Analysts, with a focus on effectively modeling and monitoring actuarial solutions across all of the company’s short-term brands, products, and distribution channels. This role will play a critical part in achieving the business objectives set by senior management.
Key Responsibilities:
Business Requirements Identification:
- Conduct in-depth analysis to extract complex business requirements using interviews, workshops, and documentation reviews.
- Manage pricing development, deployment, and performance monitoring for all brands and products.
- Clearly document business needs, root causes, assumptions, and goals to ensure alignment with business objectives.
- Provide solutions that evolve as more information becomes available, ensuring continuous improvement.
Stakeholder Engagement:
- Build and maintain relationships with internal (actuarial) and external (business) stakeholders.
- Keep stakeholders informed of project progress, ensuring clear and actionable feedback is provided.
- Ensure consistent and timely communication with the business.
Actuarial Modelling:
- Translate business goals into defined actuarial models, supporting growth initiatives.
- Develop, maintain, and implement actuarial models that are precise and fit for purpose.
- Continuously monitor model performance and provide feedback to the business.
- Ensure that data and assumptions are clearly documented.
Data Collection & Analysis:
- Analyse data from multiple sources to identify trends and inform business decisions.
- Verify data accuracy and ensure consistency with credible financial data before use.
- Collaborate with the Senior Manager to review and sign-off data used for actuarial models.
Model Deployment & Testing:
- Manage systems changes, ensuring timely delivery of solutions and compliance with quality standards.
- Perform impact and sensitivity analyses to predict the effect of pricing changes on profitability and policy growth.
- Document and monitor deployed models to ensure effectiveness and accuracy.
Insights & Reporting:
- Lead the design and creation of reports that identify trends, patterns, and actionable insights.
- Present and communicate data-driven insights to key stakeholders in a clear, impactful manner.
- Translate monitoring results into actionable recommendations for future modeling efforts.
Leadership & Team Management:
- Communicate business objectives, strategy, and values to the team to inspire commitment and extraordinary results.
- Manage performance, set clear objectives, and hold team members accountable for their contributions.
- Develop pipelines for succession planning and provide coaching for professional growth.
Continuous Improvement & Innovation:
- Identify areas for improvement in existing processes, collaborating with senior colleagues to implement new ideas.
- Stay informed on business developments and modeling techniques, ensuring that the team remains proactive in their approach.
- Ensure data processes are current and well-maintained.
Operational Compliance:
- Ensure compliance with regulatory codes and the standards set by the Actuarial Society of South Africa.
- Monitor team performance to identify and resolve compliance issues.
Mentorship & Capability Building:
- Mentor and coach team members, helping them develop technical skills in data analysis and modeling.
- Support the growth of analytical, aggregation, and modeling expertise within the team.
Behavioral Competencies:
- Action Oriented: Takes on challenges with urgency and enthusiasm.
- Manages Complexity: Simplifies complex problems by focusing on key elements.
- Manages Ambiguity: Remains effective in uncertain or unclear situations.
- Resilience: Recovers from setbacks while maintaining a positive outlook.
- Business Insight: Applies deep business knowledge to advance organizational goals.
- Accountability: Holds self and others accountable for meeting commitments.
- Effective Communication: Tailors communication to various audiences, ensuring clarity.
- Collaboration: Builds partnerships and encourages teamwork to achieve common objectives.
- Directing Work: Provides direction and removes obstacles to ensure timely delivery.
- Financial Acumen: Applies financial insights to make informed business decisions.
- Optimizing Work Processes: Continuously improves processes for better outcomes.
- Developing Talent: Supports the development of team members to achieve their career and organizational goals.
- Persuasion: Uses compelling arguments to secure support and commitment.
Skills:
- Proficient in actuarial/statistical software and advanced Microsoft Office skills.
- Expertise in financial and economic modeling.
- Strong numerical and analytical capabilities.
- Excellent written and verbal communication skills.
- Strong presentation and reporting abilities.
- Ability to manage data collection, analysis, and mining processes effectively.
Qualifications:
- Bachelor’s/Honours degree in Actuarial Science or equivalent.
- Progressing toward or completed Actuarial qualification.
Experience:
- Minimum of 4 years’ experience in actuarial work within a short-term insurance environment.
- 1-3 years’ experience managing resources and delivering on objectives.
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