Actuarial Specialist

2 weeks ago

Bellville, Western Cape, South Africa Momentum Corporate Full time

Introduction


Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations.


Role Purpose

Momentum Corporate:
Income Solutions is a leading provider of annuity products to both the Retail and Corporate market segments.

In this exciting opportunity you can be part of the team that secured and implemented the largest with-profit annuity outsource in South Africa.


Requirements:

  • Bachelor's degree in Actuarial Science.
  • Minimum of all CT and CA exams preferred.
Knowledge of and experience with annuity products will be an advantage.

  • Knowledge of mortality experience investigations will be an advantage.
  • Good Excel skills are critical, including good knowledge of VBA.
  • SQL knowledge will be an advantage.
  • Python knowledge will be an advantage.
  • Minimum 3 years' experience in an actuarial environment.

Duties & Responsibilities

Responsibilities and work outputs:

  • Manage a portfolio of annuity clients, including:
Asset-liability management

  • Pricing/profitability management
  • Assist with designing bespoke annuity solutions for clients with complex needs.
  • Product related new business responsibilities you will assist with:
Produce and/or check annuity quotations.

  • Implementation of new business (especially large, complex deals)
  • Reviewing policy contracts and endorsements.
  • Product Development related responsibilities you will assist with:
Participate in the product development forum.

  • Produce product related research.
  • Assist the development and maintenance of a comprehensive range of bestinclass annuity products.
  • Analyse competitor products
  • Product Management related responsibilities you will assist with:
Produce and/or check regular valuations for specific annuity clients.

  • Assisting with client feedback sessions.
  • Producing annual experience investigations to ensure the use of appropriate pricing assumptions
  • Regular reviews of annuity pricing basis
  • Regular reviews of annuity profitability (VNB)
  • Development and maintenance of appropriate annuity pricing models.
  • Assist with annual bonus process for discretionary participation products.
  • Provide product support to clientfacing and administration teams.
  • Assist distribution teams in acquiring new business, including product support and assisting with client presentations.
  • Assist management where required in gaining and translating information on relevant annuity products.
  • Liaising with internal areas, including, Balance Sheet Management, Corporate Actuarial, the Marketing Actuary, Implementations and Administrative teams.
  • Represent the Income Solutions Team in various project committees/working groups as required.
  • Assist with ensuring compliance with the relevant legislation and regulations.
  • Identify solutions to enhance cost effectiveness and increase operational efficiency.

Competencies

  • Knowledge of actuarial pricing and valuation techniques.
  • Strong analytical, problem solving and judgement skills.
  • Good written and verbal communication skills.
  • Ability to work in a team as well as independently.
  • Ability to work accurately under pressure.
  • Take initiative to improve current processes.
  • Ability to lead a highly technical team in achieving its goals and contributing to wider business priorities.
  • Ability to establish priorities and balance several tasks with accuracy and attention to detail in a demanding deadlinedriven environment.

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