Junior Actuarial Analyst

3 weeks ago

Sandton, South Africa The Recruitment Council Full time

Our client is seeking a dynamic Junior Actuarial Analyst to provide vital support to senior analysts and managers in our clients Actuarial team. The successful candidate will work with actuarial models to identify, analyze, and monitor business challenges, offering data-driven solutions to optimize business performance.

Key Responsibilities:


Model Deployment & Testing:
  • Assist in planning and executing system changes.
  • Collaborate with users to gather requirements and work with the team to design solutions.
  • Conduct impact and sensitivity analyses before deployment and translate results for business insights on profitability and policy growth.
  • Implement testing processes to ensure successful model deployments.
  • Track product performance and monitor pricing changes effectively.

Data Collection & Analysis:
  • Analyze data from various sources to identify business impacts.
  • Extract, verify, and reconcile data to ensure accuracy and alignment with business objectives.
  • Align data definitions and assumptions to support problem-solving initiatives.

Actuarial Modeling:
  • Support in developing, maintaining, and implementing actuarial models and processes that are fit for purpose.
  • Ensure all models and estimations are clearly documented, including scope, definitions, data, and assumptions.
  • Assist in creating process documentation to ensure models are understandable to external stakeholders.

Improvement & Innovation:
  • Identify and address inefficiencies in processes, systems, and procedures.
  • Stay informed on business developments and proactively propose solutions.
  • Research and share insights on new actuarial techniques to drive continuous improvement.

Business Requirements Identification:
  • Assist in collecting and documenting business requirements to support product development and pricing.
  • Support the Actuarial control cycledevelopment, deployment, and monitoring.
  • Help manage key business metrics like value of new business, embedded value, and profit by product line.

Stakeholder Engagement:
  • Collaborate with internal stakeholders (e.g., Sales and Marketing) to ensure they are informed about project outcomes.
  • Support external stakeholder engagement for product development and related solutions.
  • Ensure measurable service levels and provide feedback to address business issues.

Insights & Reporting:
  • Assist in preparing data reports, presenting insights, and communicating recommendations to stakeholders.
  • Regularly validate data monitoring against credible sources to ensure accuracy.

Operational Compliance:
  • Gain a strong understanding of the organizations policies, procedures, and relevant regulatory standards.
  • Adhere to standards of integrity and professionalism as outlined by the Actuarial Society of South Africa.

Performance Management:
  • Manage your workflow to meet required standards of quality and timeliness, while using performance systems to enhance your professional growth.

Technical Competencies:
Data Collection & Analysis:
  • Analyze data trends with minimal supervision to help guide decision-making.
  • Data Mining & Machine Learning:
  • Extract patterns from large datasets and provide technical guidance where necessary.

Data Control:
  • Organize, protect, and process data to meet business objectives.

Actuarial Modeling & Reporting:
  • Support in developing financial and economic models and create clear, effective reports.

Numerical & Analytical Skills:
  • Use numerical concepts and perform mathematical operations to support report analysis.

Computer Proficiency:
  • Demonstrate strong skills in Actuarial and statistical software (e.g., Prophet) and advanced Microsoft Office.

Multitasking & Attention to Detail:
  • Work effectively on multiple tasks, while maintaining attention to detail.

Compliance Management:
  • Achieve full compliance with applicable regulations and the standards of the Actuarial Society of South Africa.

Communication & Presentation Skills:
  • Communicate ideas clearly in both verbal and written formats, with minimal supervision.

Planning & Organizing:
  • Efficiently plan, prioritize, and organize activities to meet business goals.

Qualifications:
  • Bachelors degree in Actuarial Science or a related field.
  • Making good progress toward Actuarial qualification.

Experience:
  • At least 1 year of actuarial work experience in the financial services sector.
  • Experience with Prophet software is required.

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