Pricing Actuarial Specialist

2 weeks ago

Centurion, South Africa Secondments Recruitment Full time

**Job Advert Summary**:
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.

**Minimum Requirements**:
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

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

**Duties and Responsibilities**:
Key Performance Areas

**1. Corporate Actuarial (IFRS17, SAM, ORSA)**
- Assist with valuations (IFRS17 and SAM), cash flow and capital models (economic capital and/or regulatory capital).
- Assist with IFRS17 actuarial calculations for any new products or enhancement of products.
- Calculation of actual experience compared against valuation assumptions.
- Assist with solvency projections as a result of new business and/or enhanced products.
- Assist with the scenario and stress tests calculations in the periodic Own Risk and Solvency Assessment (“ORSA”) process for any new business and/or enhanced products.
- Assist with calculations of Embedded Value and Value of New Business periodically i.e. profit testing of new and existing products and report to the Chief Actuarial Officer.
- Provide an input in periodic risk reports on technical provisions, capital requirements, key risk indicators and ORSA process.
- Make an input into risk appetite metrics compared against the risk limits periodically.
- Calculate the impact that the company’s strategy and corresponding financial projections will have on the company’s solvency over the business planning horizon.

**2. Product Development and Pricing**
- Perform technical pricing on new and renewal business (crop, agri-asset and individual credit life).
- Pricing of new group schemes and reviewing of existing group schemes based on claims experience.
- Assist in the review and enhancement of existing products and solutions and support product development initiatives.
- Assist in researching and developing new and innovative products.
- Assist with product management, ensuring all product and pricing related documents for the product are reviewed and maintained appropriately.
- Calculate premium discounts to be offered and justify them.
- Develop and implement new rating and pricing models for existing and new products.
- Perform mix of business, claims, expense, new business, lapse and loss ratio analysis.
- Conduct scenario testing a

  • Actuarial Pricing Specialist

    4 weeks ago

    Centurion, South Africa Staff Solutions Full time

    Our client in the financial services industry is seeking an Actuarial Pricing Specialist to join their team in Centurion at their HQ. **Role Purpose** **Responsibilities and work outputs** - Maintain, develop, and implement market-leading Short-Term Insurance pricing models. - Explore and identify data and rating enhancements to inform pricing models. -...

  • Actuarial Pricing Specialist

    7 days ago

    Centurion, South Africa Momentum Insure Company Limited Full time

    **Introduction** Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations. **Role Purpose** **Requirements**: -...

  • Actuarial Specialist

    3 days ago

    Centurion, South Africa K2 Human Capital Consultancy Full time

    **Job summary **- A Client in Centurion - Gauteng is looking for an Actuarial Specialist to be involved in all aspects of actuarial management of a short-term insurer with a focus on pricing and product development, including business intelligence, underwriting and other ad-hoc commercial involvements. This is a broad, technical role with opportunities to...

  • Intermediate Actuarial Specialist

    1 week ago

    Centurion, South Africa Communicate Recruitment Full time

    One of the best insurance companies in South Africa is looking for a GAP Intermediate Actuarial Specialist! **Job & Company Description**: This company is a premium African financial services organisation that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 17 countries. The lines of business...

  • Actuarial Analyst

    4 weeks ago

    Centurion, South Africa MMI Holdings Ltd Full time

    Closing Date2023/03/21Reference NumberMMH230302-9Job TitleActuarial AnalystPosition TypePermanentRole FamilyActuarialClusterClient Engagement SolutionsRemote OpportunitySome of the timeLocation - CountrySouth AfricaLocation - ProvinceGautengLocation - Town / CityCenturionIntroduction Momentum Health Solutions, an entity of Momentum Metropolitan Holdings...

  • Senior Product and Pricing Specialist

    6 days ago

    Centurion, South Africa K2 Human Capital Consultancy Full time

    **Duties and Responsibilities**: Product maintenance to ensure efficiencies in the wider business context Product monitoring Technical pricing model development and implementation assistance Technical pricing innovation and improvement on existing models Street pricing development and practical implementation assistance Pricing monitoring Willingness to...

  • Actuarial Specialist

    1 week ago

    Centurion, South Africa Staff Solutions Full time

    **Gauteng**, Centurion** **Negotiable - Negotiable Monthly Cost To Company (Market related)** **NEW VACANCY ALERT!** **Our client in the Finance/Insurance industry seeks to fill the role of Actuarial Specialist to join their operations in Centurion, Gauteng.** **Responsibilities and work outputs** *** - **Collect data from various sources and assess the...

  • Senior Actuarial Specialist- Business Partner

    1 week ago

    Centurion, South Africa Communicate Recruitment Full time

    One of the best insurance companies in South Africa is looking for a Business Partner - Senior Actuarial Specialist! **Job & Company Description**: This company is a premium African financial services organisation that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 17 countries. The lines of...

  • Head of Technical Pricing

    7 days ago

    Centurion, South Africa Staff Solutions Full time

    Gauteng, Centurion - Negotiable - Negotiable Monthly Cost To Company (Market related) NEW VACANCY ALERT! Our client in the Finance/Insurance industry seeks to fill the role of Head of Technical Pricing to join their operations in Centurion, Gauteng. **The role will be responsible for the following**: - Technical pricing model development and...

  • Actuarial Specialist

    4 weeks ago

    Centurion, South Africa Milton Resourcing Full time

    **If You Have** - Experience in short-term insurance - Bachelor's degree in Actuarial Sciences, Science, Finance Commerce or Business Sciences - Basic programming skills would be advantageous **We Would Love To See Your CV.

  • Head of Technical Pricing

    3 days ago

    Centurion, South Africa K2 Human Capital Consultancy Full time

    **Job summary **- A Client in Centurion - Gauteng is looking for a Head of Technical Pricing to determine strategic direction for product development and pricing for the existing channels within the business and within the strategic context **Duties and Responsibilities** - Responsible for the technical pricing model development and implementation...

  • Product Actuary

    1 week ago

    Centurion, South Africa Momentum Life Full time

    **Introduction** Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations. **Role Purpose** An opportunity exists...

  • Actuarial Specialist

    3 days ago

    Centurion, South Africa K2 Human Capital Consultancy Full time

    **Duties and Responsibilities** Collect data from various sources and assess the completeness and accuracy of the data Perform data analysis and advise on appropriate actions to be taken Perform detailed statistical investigations using specialised software Assist in the implementation of various products on the chosen LOB system across all regions Devise...

  • Specialist: Pricing

    4 weeks ago

    Centurion, South Africa Telkom SA Limited Full time

    **Core Description**: Provide commercial analytics to assist Openserve in making tactical and strategic business decisions with regards to product development. Benchmark market related product pricing and advise on optimal pricing structure for Openserve products and services. The role includes gathering and analysing data, formulating and testing...

  • Product Support Specialist

    5 days ago

    Centurion, South Africa Momentum Life Full time

    **Introduction** **Role Purpose** The Product Support Specialist will support the product development team in the administration of premium discounts, special quotes, product enquiries, intermediary report and other product support services. **Requirements**: **Qualifications**: - Grade12/Matric - Diploma Business Administration, Finance, or Insurance...

  • Consolidation and Reporting Supervisor

    1 week ago

    Centurion, South Africa Communicate Recruitment Full time

    One of the best insurance companies in South Africa is looking for a Consolidation and Reporting Supervisor! This company is a premium African financial services organisation that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 17 countries. The lines of business include Life and Savings,...

  • Group Assurance Reporting Supervisor

    1 week ago

    Centurion, South Africa Communicate Recruitment Full time

    One of the best insurance companies in South Africa is looking for a Group Assurance Reporting Supervisor! **Job & Company Description**: This company is a premium African financial services organisation that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 17 countries. The lines of business...

  • Senior Specialist: Model Validation

    4 weeks ago

    Centurion, South Africa Six Sense Full time

    Gauteng, Centurion A well-established business is seeking to appoint a Senior Specialist: Model Validation Manages the independent review and validation of the models that mitigate the credit risk covering calculation pricing, credit assessment and impairments. **Qualifications & Experience**: - Relevant 4 year tertiary qualification (B Com Hon or...

  • Senior Specialist: Model Validation

    5 days ago

    Centurion, South Africa Land Bank Careers Full time

    **Job Advert Summary**: The Land and Agricultural Development Bank of South Africa (Land Bank) is South Africa’s only specialist agricultural bank established in 1912, the bank’s sole objective is to serve South African commercial and emerging farmers and bring specially designed financial services within their reach. These services enable farmers to...

  • Microsoft SAM Specialist

    4 weeks ago

    Centurion, South Africa HR Genie Full time

    We pride ourselves on our culture that is made up of impeccably skilled, passionate professionals. Our team varies from veterans of the industry to fresh faced young bloods who are ready to shape the future.We currently have 2 positions available for SAM Specialist consultants.Hybrid role, head office in CenturionJob Description The Microsoft SAM Specialist...