Actuarial Pricing Specialist

4 weeks ago


Cape Town, South Africa Momentum Corporate 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. We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members.Through our own network of advisers or via independent brokers and utilising new platforms Momentum Metropolitan provides practical financial solutions for people,communities and businesses. Visit us at-
**Role Purpose**
- The purpose of the role is to conduct experience analyses, set new pricing bases, maintain, and develop our pricing tools and general statistical modelling in the Group Insurance and FundsAtWork environment of Momentum Corporate. In addition, assist with the actuarial aspects of the reinsurance arrangements of Momentum Corporate.**Requirements**:
**Experience and Qualifications**
- Proficiency in VBA, R, SQL
- Actuarial specialist with exemptions or passes in the A100 and A200 series with at least 2 years of work experience with pricing of insurance benefits and exposure to experience analyses

**Duties & Responsibilities**

**INTERNAL PROCESS**
- Monitoring the on-going appropriateness of the group insurance pricing bases that ensures business is written on a competitive basis but also a financially sound basis.
- Develop new insurance pricing bases for key products using relevant data, detailed statistical techniques and modelling software such as R.
- Use software packages such as Excel, SQL and R to manage and interpret data.
- Ensure business written adds to the value of new business and embedded value by pricing appropriately, monitoring experience and updating existing assumptions and margins.
- Develop and maintain appropriate system infrastructure in order to support all aspects of the pricing basis.
- Provide support to the risk pricing analysts on the developed tools, as well as non-standard pricing requests.
- Work closely with the Product Support Team to determine the feasibility and pricing impact of new products and product enhancements.
- Ensure effective use of risk management techniques, with a particular focus on the use of reinsurance.
- Assist with the annual bulk review of the FundsAtWork risk book. This will include calculating theoretical risk rates and collaborating with various stakeholders to develop the best strategy to implement the rates in an actuarially sound and client centric manner.
- Work closely with Corporate Actuarial to ensure alignment to the reserving and profit recognition basis.
- Ensure compliance with governance, relevant legislation and risk mitigation strategies.
- Fundamental rethinking and redesign of business processes to obtain sustained improvement in quality, cost, service, turnaround time, flexibility and innovation.
- Partner and collaborate with other analytical teams across the organisation to encourage a useful exchange of information.

**CLIENT**
- Contribute to a service culture which builds rewarding relationships, proposes innovations and allows others to provide exceptional client service.
- Ensure effective relationships with internal and external stakeholders.
- Participate in MMH wide practice forums to influence pricing and risk awareness and brand loyalty.

**PEOPLE**
- Develop and maintain productive and collaborative working relationships with peers 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 through the development, sharing and implementation of new ideas.
- Take ownership for driving career development

**Competencies**
- Strong analytical and problem - solving skills.
- Proactively solve business and financial modelling problems.
- Ability to work accurately under pressure and good time management skills.
- High attention to detail and quality orientation.
- Good written and verbal communication skills.
- Ability to work in a team as well as independently.
- Self-starter able to show initiative and look for ways to improve existing processes.



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