Junior Actuarial Manager | Sandton

2 months ago


sandton Gauteng, South Africa The Recruitment Council Full time

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:

  • Bachelors/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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