Actuary (Senior) - Discovery Life

3 weeks ago


Sandton, South Africa Discovery Ltd. Full time

**Business Unit**:Discovery Life**Function**:Actuarial Sciences**Date**:22 Feb 2024- Discovery Life- Actuary (Senior)
Employee Benefits Valuations**About Discovery**
- Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.**About Discovery Life**
- Discovery Life is an ever growing fast-paced and dynamic environment that provides innovative risk assurance to individual clients. This environment thrives on customer engagement and customer experience as well as mutually beneficial relationships with our brokers and other stakeholders. It is important for our employees to provide a world class service to our internal and external clients, thereby ensuring long and sustainable relationships**Key Purpose**
- Assist the head of the Employee Benefits actuarial valuations team with taking ownership of key reporting responsibilities and the associated analysis around assumptions and results. The team is responsible for all actuarial valuations work for the Group Risk and Umbrella Fund businesses. The key tasks for the role include monthly experience reporting, quarterly regulatory reporting, semi-annual valuation reporting and various actuarial analytics projects. The work involves managing the processes for completion of reporting tasks, analysing and giving input on key actuarial metrics to assist in management decision making and working with teams across the business to help improve different aspects of the product offering. The role will have direct reports.
- **Areas of responsibility may include but not limited to**
- Taking ownership of the monthly actuarial experience process and producing reports for the head of the team and senior management to inform their decision making
- Completing bi-annual actuarial valuations and experience reports for sign-off of valuation results
- Semi-annual, in depth, experience analyses to assist with setting assumptions
- Setting the annual budgets and capital plan for the business
- Development and maintenance of existing models and processes to drive efficiencies and ensure all methodologies and assumptions remain relevant and up to date
- Maintaining and updating data controls and systems
- Reviewing and assessing the risks and profitability of product and pricing proposals
- Managing direct reports
- Working with other teams across the business to improve data and client experience metrics

**Education and Experience**

**Essential**:

- Matric with Mathematics
- Bachelor’s/Honours degree in Actuarial Science from an accredited institution
- At least 6 years of working experience in an actuarial environment, preferably in the life insurance or employee benefits industries
- Minimum academic qualification towards a FASSA designation (or international equivalent)

**Technical Skills and Knowledge**

**Essential**:

- Effective communications skills
- Problem Solving skills
- Analytical thinking
- Proficiency in MS Word, MS Excel and MS Outlook

**Advantageous**:

- Prophet experience advantageous
- SQL coding experience advantageous



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