Actuarial Analyst: Short Term

20 hours ago


Pretoria, South Africa PreBless Group Full time

**ROLE OVERVIEW**

The role of the Actuarial Analyst is to source, clean, consolidate and analyse data by using proven actuarial models to come up with a technical solution to charge for the insurance risks and product development of the company. Part of the function is to maintain and update the actuarial models/methods used in the company. This analyst will report to the Actuarial Manager of LBIC/ LBLIC.

**KEY AREARS;**
- Actuarial Capital Management & Assessments
- Product development, Pricing and Actuarial Performance Review
- Source and Consolidate Data for Analysis
- Profitability analysis

**QUALIFICATIONS AND EXPERIENCE**
- Relevant 4-year qualification in Actuarial Science or Mathematical Statistics
- At least 3 actuarial exemptions
- Sound knowledge on statistical models and analytical methods
- Sound knowledge of life insurance product development and pricing and valuations
- Sound knowledge of Short term and long term insurance industry and Solvency Assessment Management
- Sound knowledge of relevant legislation applicable to insurance companies such as Short and long term Insurance Acts.
- 1-3 Years Experience in Life insurance product development and pricing and valuations
- ** 1-3 years Experience with 3/5 actuarial exemptions**:

- Level 3 Knowledge of Actuarial Softwares (SAS, Prophet, VBA and SQL)
- Level 4 Advanced Microsoft Office
- Level 3 Actuarial Methodologies - Knowledge and understanding of the principles, regulations and legislation pertaining to acceptable actuarial policies
- Level 3 Ability to understand Financial Statement
- Level 2 Accounting Ratios
- ** ADDITIONAL TRAINING OR KNOWLEDGE**

ü Sound knowledge on Solvency Assessment Management

ü Sound knowledge of Short term and long term insurance industry

ü Basic knowledge of relevant legislation applicable to insurance companies, Short and long term Insurance Acts

ü FAIS Regulations

**KEY PORTFOLIO AND PERFORMANCE FOCUS AREAS**
- ** Actuarial Capital Management & Assessment**:

- Develop valuations and cash flow models
- Develop capital management models
- Develop the implementation plan of SAM (Solvency Assessments and Management)
- Crafting of the ORSA report and scenario and stress testing
- Board and Manco reporting
- Regulatory reporting (QRTs and CPR)
- ** Product development, Pricing and Actuarial Performance Review**:

- Perform product profitability analysis and propose remedial action where necessary
- Review and enhance existing products
- Develop new and innovative products
- Develop pricing models for existing and new products.
- ** Source and Consolidate Data for Analysis**:

- Collate data from sources like claims, annual reports of competitors, FSB filings, Reinsurer reports etc.
- Integrate data from other sources to inform the models
- Input data to reserve tables accurately
- Compare Pricing data and actuarial portfolio performance
- ** Profitability Management**:

- Ensure product pricing is accurate and adequate
- Perform claims and loss ratio analysis
- Develop of underwriting guidelines and procedures)Assist in developing an optimal reinsurance structure



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