Actuarial Analyst

RESPONSIBILITIES

Model deployment and testingSupport the planning and delivery of systems changes.Engage with users to identify requirements and work with the team to designsolutions.

Effective impact and sensitivity analysis to be performed before any deployment is done.

Translate results from the impact / sensitivity analysis toBusiness to provide insight and what various pricing changes will mean onprofitability and policy growth.

Clearly state what needs to be deployed and howtesting will be done to ensure the deployment is successful.Ensure monitoring processes are in place to measure the performance of the model / pricing.

Effective tracking of various products and pricing changes andcohorts.Improvement / InnovationIdentify shortcomings and suggest improvements to existing processes, systemsand procedures.Stay up to date with Business developments and assist to develop solutionsproactively with Business.

Maintain continuous development / research ofactuarial techniques and share insights with the team.

Find an effective way to improve on efficiencies across the business.Actuarial ModelingDevelop, maintain and implement actuarial modelsand processes.

Models need to be fit for purpose and ableto estimate the reality accurately.

Models (and any form ofestimation) to clearly documented with the scope of use,definitions, data, and assumptions made.

Ensure that thereare process documents in place to ensure that the models can be understood byexternal stakeholders.

Ensure processes are in place to reduce the risk ofincorrect modelling and support new users.Business Requirements IdentificationSupport collection of business requirements using a variety of methods.Contribute and deliver in line with the product development and pricingframework.Support implementation of the Actuarial control cycle, ie development,deployment and monitoring thereof.Assist with the management of key business metrics, such as value of newbusiness, embedded value, and profit by product line.

Business requirementsneed to be clearly documented within the scope of use, definitions andassumptions made.

Develop solutions that are aligned with experienceassumptions.Stakeholder EngagementCollaborate with internal stakeholders, such as Sales and Marketing to keepthem informed and up to date with project outcomes.

Engage with externalstakeholders to find appropriate solutions around product development.Maintain measurable service levels on business requests and provide feedbackthat speaks to the business issue observed.Data Collection & AnalysisUse data from a wide range of sources to analyse key themes and identifypossible impacts on the business.

Recommendations could be technical orprofessional in nature.Extract and verify data used for actuarial models.

Data / information to bereconciled against credible data sources (for example financials) to ensure thedata is complete and accurate.

Ensure definitions and assumptions are alignedto the problem statement.

Insights and ReportingPrepare and coordinate the completion of various data and analytics reports.Create, present, and communicate insights and recommendations to stakeholders.

Ensure monitoring is accurate and complete and regularlyvalidated against credible data sources.

Operational ComplianceBuild deep knowledge and understanding of the organization's policies andprocedures and of relevant regulatory codes and codes of conduct, and ensureown work adheres to required standards.Maintain standards of integrity and professionalism as set out by the ActuarialSociety of South Africa.

Apply appropriate techniques in alignment with APNs.Performance ManagementPrioritise own workflow and ensure work is completed to the required standardsof productivity, quality and timeliness; use performance management systems to improve personal performance.

EDUCATION

Bachelor's degree in actuarial science or similar (Essential)Making good progress toward Actuarial qualification (Advantageous)

GENERAL EXPERIENCE

3 or more years' actuarial experience within a Long-Term Product and Pricingenvironment (Essential)

ADDITIONAL INFORMATION

• SAQA Accredited Equivalent - it is the onus of the applicant to provide 1Life and its subsidiaries with certified evidence that their qualification(s) meet the equivalent NQF level required for this role at time of application.
• Financial Sector Conduct Authority (FSCA) competency requirements : FAIS recognised qualifications / Regulatory Examinations / Class of Business Certification and / or CPD according to your DOFA (where applicable).

As a registered Financial Service Provider, we are mandated to ensure that all our representatives are and remain fit and proper at all times.

By applying for this role, you consent to having your relevant qualification and or accreditation or confirm that you are working towards meeting the competency requirements.

You further consent to the relevant information being verified.

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