Actuary

Found in: beBee S ZA - 3 weeks ago

Sandton Discovery Place, South Africa Discovery Full time
About Discovery

Discovery's core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

About Vitality Global

Vitality Global, a subsidiary of Discovery Limited is responsible for the expansion of the Vitality Shared-Value Insurance business model beyond South Africa and the UK, serving to fully leverage the assets and intellectual property of Discovery beyond its primary markets. The business forms equity or contractual partnerships with leading global insurers to integrate Vitality and shared value with partner's insurance and financial services products in the markets where they operate. Vitality Global also operates a business providing wellness solutions to employer groups in the United States. Vitality Health International, a business unit within Vitality Global coordinates and focuses on resource allocation to Discovery's emerging, global health insurance initiatives. Vitality Global is also responsible for Discovery's 25 percent equity investment in Ping An Health, the largest comprehensive medical insurer in China. Taken together, Vitality's businesses jointly reach more than 30 million lives across 40 markets; delivered through partnerships with leading insurers in every continent around the world.

Key Purpose
  • A wide-ranging role supporting the Head of Actuarial and Vitality Network (VN) executives with commercial and new business opportunity sizing, and successful implementation and management of Vitality core and integrated products in various international markets.
  • The role will span new business development and commercial support and analysis; actuarial consulting, product development and pricing support for international partner markets; and central product and model development as we take Vitality forward through personalisation and learning models.


Areas of responsibility may include but not limited to
  • Owning support on new business initiatives, which includes quantifying the value generated from integrating Vitality with Partner products, as well as modelling scenarios for financial impact to Vitality Network.
  • Collaborating with the VN Finance team to assess the financial impact to the income statement of new ventures, strategic initiatives and interventions, product changes, and changes to commercial arrangements among others.
  • Co-owning financial projections with VN Finance for key markets.
  • Analysis and research for identifying new growth opportunities for VN across the globe, including existing markets as well as new territories.
  • Reporting back on financial and commercial findings to an Exco-level audience, via mail and PowerPoint presentation.
  • Actuarial support to international Partners (such as AIA, the largest publicly listed insurance group in Asia-Pacific), which includes support on commercials and financial projections, support on strategic and product initiatives to drive sales and product performance, problem-solving at a local market level, and pricing and actuarial modelling support on product changes and new feature launches leveraging best practice from Discovery home and global markets.
  • Data analytics related to program performance and member engagement in various markets.
  • Developing and/or implementing algorithms and learning models in new Vitality product features being developed.
  • Providing actuarial and technical support on a range of other ad-hoc projects.


Personal Attributes and Skills
  • Strong technical capabilities and analytical skills
  • Strong financial modelling capabilities
  • Knowledge of life insurance product and pricing dynamics, value drivers and range of life insurance product offerings
  • Excellent negotiation, communication and presentation skills
  • Complex problem-solving ability
  • Decision-making and initiating action
  • Ability to influence and manage external relationships in a professional manner
  • Ability and willingness to collaborate across a range of functions to find optimal solutions
  • Flexible and adaptable to a fast-changing environment


Education and Experience

Education:
  • BSc with Honours in Actuarial Science or equivalent


Experience:
  • Nearly or Qualified Actuary.
  • 3+ years' experience with product development and pricing
  • Preferably an understanding of Discovery products, experience and integration with Vitality.
  • Experience in Actuarial Modelling, profit testing, data analytics and machine learning, problem solving, mathematical and statistical reasoning will be an advantage.


EMPLOYMENT EQUITY

The Company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.

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