Pricing Actuary

4 days ago


Cape Town, Western Cape, South Africa Reinsurance Group Of America, Incorporated Full time

You desire impactful work.

You're RGA ready

RGA is a purpose-driven organization working to solve today's challenges through innovation and collaboration. A Fortune 500 Company and listed among its World's Most Admired Companies, we're the only global reinsurance company to focus primarily on life- and health-related solutions. Join our multinational team of intelligent, motivated, and collaborative people, and help us make financial protection accessible to all.

We are looking for a qualified actuary to work on a wide variety of pricing projects across a wide variety of clients and products. The successful candidate will take a leading role in providing pricing and product development for existing and new retail business reinsured by RGA.

Primary responsibilities include:

  1. Pricing:
    • Pricing and product development for all Retail, Funeral, and Credit Life business.
    • Analyse recent client experience to form a view on the pricing approach.
    • Determine appropriate pricing bases and perform pricing projections and calculations in Axis.
    • Conduct reasonability checks and reconciliations.
    • Perform technical and overall peer review on quotes and tenders.
    • Deliver accurate and high-quality quotes in line with RGA's corporate standards and within agreed upon timelines.
    • Assist the team with ad hoc client and project queries.
  2. Documentation:
    • Document pricing assumptions and results adequately.
    • Complete letters of offer and treaties within agreed turnaround times.
  3. Driving the approval process:
    • Engage a wide range of stakeholders to ensure an efficient approval process.
    • Collaborate with Business Development, Underwriting, and Claims to produce proposals that meet our clients' needs.
  4. Improving pricing efficiencies:
    • Develop and maintain pricing tools to improve efficiency.
  5. Teamwork:
    • Develop and maintain positive relationships within the team and with other functions in the business to foster effective collaboration.

Qualifications and experience:

  • Qualified or nearly qualified actuary with at least 5 years actuarial work experience.
  • Experience with retail insurance pricing or product development.
  • Expertise in experience analysis and long term cashflow modelling.
  • Advanced Excel and Word, Visual Basic, and PowerPoint.
  • Coding skills would be advantageous: VBA, R, Python or SQL.
  • Strong collaboration and project management skills.

What you can expect from RGA:

  • Gain valuable knowledge from and experience with diverse, caring colleagues around the world.
  • Enjoy a respectful, welcoming environment that fosters individuality and encourages pioneering thought.
  • Join the bright and creative minds of RGA, and experience vast, endless career potential.
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