Actuarial Analyst: Short Term

1 week ago


Centurion, South Africa Land Bank Careers Full time

**Job Advert Summary**:
**MAIN PURPOSE **OF THE JOB**

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 solutions 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 Performance Areas**:
**1. Actuarial Capital Management & Assessment**
- Develop valuations and cash flow models
- Developo 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

**2. 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

**3. 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

**4. 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

**Preferred Minimum Education and Experience**:

- Relevant 4 year qualification in Actuarial Science or Mathematical Statistics
- At least 3 actuarial exemptions
- 1-3years experience in Life insurance product development and pricing and valuations

**Critical Competencies**:

- Knowledge of Actuarial Software’s (SAS, Prophet, VBA and SQL)
- Advanced Microsoft Office
- Actuarial Methodologies - Knowledge and understanding of the principles, regulations and legislation pertaining to acceptable actuarial policies
- Ability to understand Financial Statement
- Accounting Ratios

**Additional Requirements**:

- Travel as and when required
- Extended hours as and when required



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