Actuarial Specialist

3 weeks ago

Cape Town, South Africa Momentum Metropolitan Holdings Full time

-Introduction

Metropolitan is one of the oldest financial services brands in South Africa. With a 116-year legacy of serving the communities in which it operates, Metropolitan represents true empowerment in serving Africa's people through affordable financial solutions that create financial growth and security.

Metropolitan operates in South Africa, but the brand is also present in 12 African countries including, Namibia, Botswana, Kenya, Ghana, Nigeria, Lesotho, and Swaziland. Metropolitan provides financial wellness solutions that meet the needs of low income clients, including funeral insurance, health, savings, hospital cash-back cover, retirement solutions and life insurance.
Role Purpose

Perform actuarial product development and pricing as a member of the Investment and Saving Solutions product management team, and so doing ensuring that the objectives of the team are met effectively in the interest of the target client segments. This extends to all aspects of client experience across the various sales and service channels that clients engage with. Analyse data by using statistical models to support the actuarial team in probability and cost calculations that impact the financial viability of products and pricing models.
Requirements
- Degree in Actuarial Science
- Honours degree in Actuarial Science
- Completed all the A1 and A2 level actuarial exams (previously known as CTs)
- Ideally completed the A3 exam (previously known as CA1)
- Minimum 3 years actuarial experience
- Exposure to the Financial Services industry
- Experience with Actuarial software (preferred)
- Data extraction and analysis experience (preferred)
Duties & Responsibilities
- Analyse product related data from various sources to assess completeness and accuracy, identifying potential errors and irregularities, to ensure accuracy of client and product insights and analysis.
- Source and analyse competitor investment and saving products and pricing models to provide insight into product and pricing models for investment and saving solutions.
- Perform experience investigations, modelling and data analysis using specialised software, to support the actuarial team to develop new investment and saving solutions and monitor experience on existing investment and saving solutions.
- Develop and maintain pricing models and basis. Prepare product health reports and present insights derived from analyses, to support decision-making and inform appropriate actions through various options and scenarios.
- Provide technical actuarial support to the Investment and Saving Solutions team and claims areas to support various initiatives.
- Build and maintain relationships with various internal and external stakeholders, such as IT, distribution, legal, service, claims, asset management and valuations.
- Make recommendations to improve client service and fair treatment of clients on investment and saving solutions.
- Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.
- Conduct relevant research to inform pricing and design assumptions, projections and advice provided to the business, and to develop own expert opinion.
- Develop and maintain productive and collaborative working relationships with peers, clients and stakeholders.
- Positively influence and participate in change initiatives.
- Continuously develop own expertise in terms of professional, industry and legislation knowledge.
- Contribute to continuous innovation in investment and saving solution design and processes through the development, sharing and implementation of new ideas.
- Take ownership for driving career development.
- Effectively manage time and ensure optimal productivity.
- Ensure technical product and legislative knowledge are always current to propose the most relevant and innovative client solutions and comply with governance requirements.
- Be self-confident, self-motivated and relentlessly pursue targets and goals.
- Identify solutions to enhance cost effectiveness and increase operational efficiency of investment and saving solutions.
- Provide input into the risk identification processes and communicate recommendations in the appropriate forum.
Competencies
- Passion to make a difference in the lives of people in the low to middle income markets.
- Extracting insights from data analysis.
- Have an ability to work accurately and with attention to detail.
- Be versatile and open to learning opportunities.
- Be willing to share learning and experience with peers.
- Strong written and verbal communication skills.
- Naturally inquisitive mind-set, with a strong innovative tendency.
- Team player and ability to work with a diverse group of people.

Policy

We are committed to Employment Equity, diversity and inclusion when recruiting internally and externally. All appointments are made in alignment to our Employment Equity goals and we encourage people with disabilities to apply.

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