Senior Actuarial Analyst

2 weeks ago

Parktown, South Africa Rand Mutual Assurance Full time

**THE JOB AT A GLANCE**

As the Senior Actuarial Analyst (Product Development & Pricing), you will be reporting into the Pricing Manager, the Senior Actuarial Analyst will be responsible for managing a product through its lifecycle from concept and design through pricing, sale and ongoing maintenance and product management. You will be required to develop models, monitor product performance, provide analytics and research as required. Cross functional collaboration, providing input and guidance on product related elements across the value chain.

**WHAT WILL YOU DO?**

**Actuarial business support to RML**:

- Product research, competitor comparison
- Product conceptualisation
- Product design
- Pricing
- Liaising with Reinsurer
- Product management, ensuring all product and pricing related documents for the product are reviewed and maintained appropriately
- Keep abreast of regulatory updates, assess impact on product and related processes and communicate these to management
- Maintain Tools, SOPs and other documents to adequate standard

**Reporting and stakeholder management**:

- Manage relationships within the company and with stakeholders
- Cross functional collaboration, providing input and guidance on product related elements across the value chain
- Regular reporting to management on Product specific issues
- Provide feedback to other business units
- Product performance monitoring
- Provide analytics and trends into internal product and changes in the market landscape
- Monthly reporting of risks on risk register
- Effectively assess and report on problem areas

**Regulatory Compliance**:

- Ensure that all work performed in terms of required standard and regulation
- Keep abreast of regulatory updates and related material. Assess impact on product and related processes and communicate these to management
- Ensure that all company policies and procedures are adhered to
- Ensure timely submission of various periodical reports

**Staff Management**:

- Manage, supervise and train staff
- Lead and motivate a team to achieve targets

**Ad hoc Projects**:

- Assist, participate in or provide related support for any ad hoc projects as and when required

**WHAT YOU'LL BRING TO THE TABLE?**
- NQF Level 7: Bachelor’s degree - Actuarial Science
- Progress towards actuarial exams - preferably Associate actuary, but consideration would be given to experience
- Minimum 5 years’ experience in product development and/or pricing role
- Insurance knowledge is essential
- Product development and/or Pricing experience
- Life and/or microinsurance experience
- Knowledge of the Insurance Acts (long and short term) and other relevant regulation
- Actuarial guidelines and principles
- Advanced Excel
- Modelling experience

**WHAT WILL YOU GET IN RETURN?**

We offer great opportunities for personal and professional development in a stable company that’s 127 years strong. The role comes with a competitive salary package and various benefits. Flexible work arrangements (combination of remote and in the office). Furthermore, you will be a part of a dedicated group of colleagues who value teamwork and collaboration.

**Turnaround time**

**Closing date: 02 February 2023**

**Our Commitment to transformation**:

- NQF Level 7: Bachelor’s degree - Actuarial Science
- Progress towards actuarial exams - preferably Associate actuary, but consideration would be given to experience
- Minimum 5 years’ experience in product development and/or pricing role
- Insurance knowledge is essential
- Product development and/or Pricing experience
- Life and/or microinsurance experience
- Knowledge of the Insurance Acts (long and short term) and other relevant regulation
- Actuarial guidelines and principles
- Advanced Excel
- Modelling experience

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