Actuarial Specialist

3 weeks ago


Johannesburg, South Africa Edge Executive Search Full time

Actuarial Specialist
- 2023-06-23 - 2023-07-07
- Permanent
- Tea000107
- Banking- Gauteng, JHB - Central
- Annually Cost To Company (Negotiable)- The role of the Pricing Actuarial Specialist is to support the Head: Actuarial Short Term & Life with all product development and pricing functions. The Pricing Actuarial Specialist will clean, consolidate, validate and analyse data including policy movements, data reconciliations and preparation of actuarial investigations in order to come up with a pricing basis and models for purposes of technical pricing of the company’s products for both short-term and long-term insurance businesses. Part of the function is to build and implement pricing models that include system implementation and documentation of the modelling process, monitoring loss ratios and other key performance indicators to identify opportunities to improve pricing models and/or product design features. The Pricing Actuarial Specialist will research, develop, design and enhance products (crop, agri-asset, individual life and group life) to enhance the product offering to clients, including profit testing and product management. This position will report to the Chief Actuarial Officer.
- Preferred Minimum Education and Experience
- Relevant 3-year qualification in Actuarial Science or Mathematical Statistics and a student member of the Actuarial Society of South Africa (“ASSA”).
- At least 3 actuarial exemptions from ASSA or from an equivalent recognized professional actuarial body (e.g. Institute and Faculty of Actuaries).
- 2-4 years Actuarial Experience in Life and/or Short-term Insurance Industries either in product development and/or pricing. Agricultural specific insurance will be advantageous but not essential. Previous experience in a corporate (IFRS, SAM and/or ORSA) actuarial environment is advantageous but not essential.
- At least 3 actuarial exemptions from ASSA or equivalent recognized professional actuarial body (e.g. Institute and Faculty of Actuaries).
- Critical Competencies
- Knowledge of Actuarial Software or Programme/Database (VBA, SQL, PowerBI, R, Python, Basys, Moses, Prophet, or similar)
- Advanced Microsoft Office
- Relevant legislation applicable to insurance companies such as the Insurance Act of 2017 and associated Prudential Standards Financial Soundness for Insurers as well as International Financial Reporting Standards (“IFR17”)
- Actuarial Methodologies - Knowledge and understanding of the principles, regulations and legislation pertaining to acceptable actuarial policies
- Ability to understand Financial Statements, Accounting Ratios and Risk Metrics
- Short term and/or Life Insurance Corporate Actuarial (SAM, ORSA)
- Short term and/or Life Insurance Product Development & Pricing
- Reinsurance (short term and/or life insurance)
- Predictive Analytics and/or Machine Learning
- Statistical/Actuarial models and Analytical Methods
- Additional Requirements
- Travel as and when required
- Extended hours as and when required
- For more information please contact:

- Karabo Modiboa


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