Senior Actuary: Team Leader

4 weeks ago


Bellville, South Africa Metropolitan Life Full time

**Introduction**
- Metropolitan is one of the oldest financial services brands in South Africa. With a 125-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 provides financial wellness solutions that meet the needs of low-income clients, including funeral insurance, health, savings, healthcare cash-back cover, retirement solutions and life insurance.**Role Purpose**
- As a Senior Actuary: Team Leader, this role is responsible for the development and ongoing management of competitive Risk cover products (Life cover, health, disability, critical illness, credit life) that address specific client needs, in order to enhance our client value proposition across segments. This extends to all aspects of product and client experience across the various sales channels that clients engage with while ensuring products remain profitable and relevant to an evolving market.**Requirements**:

- Degree in Actuarial Sciences, Statistical Analysis, Mathematics or related field
- Qualified Actuary (FASSA/FIA/etc.)
- Knowledge on Actuarial modelling, Product pricing and Statistical analysis techniques
- 3 - 5 years’ experience in a product owner/manager role
- Experience in the following will be advantageous:

- RiskAgility/Prophet;
- Software Development Life Cycle (SDLC);
- VBA
- SQL

**Duties & Responsibilities**
- INTERNAL PROCESS- Analyse product and client related data from various sources to identify potential product experience irregularities, ensuring accuracy of insights and analysis.
- Analyse competitor products and international trends to provide insight for developing and maintaining competitive end-to-end solutions.
- Review experience investigations, modelling and data analysis, to design and price solutions and monitor experience on existing products.
- Prepare product health reports and present product profitability and insights derived from analyses, to support decision-making and inform appropriate actions.
- Make recommendations and drive implementation to improve product performance, client service and promote fair treatment of clients.
- Develop and maintain pricing models and bases, reviewing results and ensuring that parameters used are accurate and validated.
- Identify solutions to enhance cost effectiveness and increase operational efficiency of solutions.
- Ensure compliance with practices and timelines by developing metrics to monitor delivery against set objectives.

CLIENT
- Provide expertise and advice on technical/actuarial product matters to clients and stakeholders.
- Build and maintain collaborative working relationships with various internal and external stakeholders, such as solution peers, IT, sales/distribution, legal, servicing and valuations.
- Contribute to the process of negotiating objective and realistic performance targets, monitor appropriateness and recommend adjustments.
- Deliver on service level agreements made with stakeholders to ensure that client expectations are managed.
- Make recommendations to improve client service and fair treatment of clients within area of responsibility.
- Provide input into the risk identification processes and communicate recommendations in the appropriate forum.

PEOPLE
- Participate and contribute to a culture which builds collaborative relationships, encourage innovation, facilitates feedback and provides exceptional client service.
- Demonstrate exemplary leadership behaviour, through personal involvement, commitment and dedication in support of organisational values.
- Select and recruit suitably qualified talent in line with Employment Equity principles and MMI values.
- Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness.
- Identify employee growth and development needs and enable their ongoing development, training and personal growth.
- Effectively manage performance within the team in order to ensure business objectives are achieved.
- Ensure technical product and legislative knowledge are always current in order to propose the most relevant and innovative client solutions and comply with governance requirements.
- Take ownership for driving career development.
- Effectively manage time and ensure optimal productivity.
- Be self-confident, self-motivated and relentlessly pursue targets and goals.

**Competencies**
- Passion to make a difference in the lives of people in the low to middle income markets
- Extracting insights from data analyses
- High degree of self-motivation and can work independent of supervision
- Self-managing
- Strong written and verbal communication skills;
- Naturally inquisitive mind-set, with a strong innovative tendency
- Ability to function in a multi-disciplinary team environment including Marketing, Product & Solutions, IT and Client Insights



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