Actuarial Expert: Lead Actuarial Modeling and Strategic Development

3 weeks ago

Sandton, South Africa The Recruitment Council Full time

The Recruitment Council is seeking a highly skilled Actuarial Expert to lead our actuarial modeling and strategic development efforts. This is an excellent opportunity for a seasoned professional to drive business growth, improve profitability, and enhance policy development.


Key Responsibilities:
Model Deployment and Testing:
  • Develop and implement effective system changes, collaborating with stakeholders to define needs and design solutions.
  • Conduct thorough impact and sensitivity analysis prior to deployments, translating results to inform business decisions on pricing adjustments.
  • Oversee testing to ensure smooth deployment and track product performance.

Actuarial Modeling:
  • Create, maintain, and implement robust actuarial models to ensure accurate estimates.
  • All models will be clearly documented, outlining scope, definitions, data sources, and assumptions.
  • Ensure process documents are in place for stakeholders and to support new users, reducing the risk of errors in modeling.

Process Improvement and Innovation:
  • Identify weaknesses in current practices and implement improvements.
  • Stay current with industry developments and actively develop solutions to optimize efficiencies across the business.
  • Share insights with the team to enhance actuarial techniques and business processes.

Business Requirement Identification:
  • Work within the product development and pricing framework, handling the full actuarial control cycle from development through to monitoring.
  • Manage key metrics such as embedded value, profitability by product line, and value of new business, ensuring assumptions align with experience.

Stakeholder Engagement:
  • Engage with internal and external stakeholders to address product development needs and communicate project outcomes.
  • Maintain measurable service levels and offer actionable feedback to address business issues.

Data Collection and Analysis:
  • Extract and verify data for actuarial models, ensuring accuracy through reconciliation against credible sources like financial data.
  • Provide recommendations to address potential business impacts.

Insights and Reporting:
  • Prepare and present detailed reports and insights, ensuring regular validation against accurate data sources.
  • Deliver actionable recommendations to stakeholders based on analysis.

Operational Compliance:
  • Ensure compliance with organizational policies, relevant codes, and Actuarial Society of South Africa standards.
  • Identify and address non-compliance issues within the team.

Mentorship and Capability Building:
  • Provide technical guidance to junior staff, supporting their development and promoting process automation.
  • Encourage team collaboration to improve overall performance.

Performance Management:
  • Monitor team performance, ensure tasks meet deadlines, and uphold quality standards.
  • Contribute to performance reviews and provide corrective action when needed.

Behavioral Competencies:
  • Action Oriented: Tackles challenges with urgency and enthusiasm.
  • Optimizes Work Processes: Continuously seeks improvements to enhance efficiency.
  • Manages Complexity: Effectively addresses complex issues with a deep understanding.
  • Business Insight: Uses business knowledge to drive key initiatives.
  • Financial Acumen: Applies financial insights to support decision-making.
  • Ensures Accountability: Holds self and others responsible for delivering results.
  • Manages Ambiguity: Operates effectively in uncertain situations.
  • Communicates Effectively: Presents clear, compelling communication to diverse audiences.
  • Collaborates: Works well with others to achieve shared goals.
  • Persuades: Uses logic and evidence to gain support and reach consensus.
  • Being Resilient: Recovers from setbacks and maintains focus on objectives.

Technical Skills:
  • Modeling: Develop and guide others in creating financial and economic models.
  • Action Planning: Develop plans based on recommendations.
  • Numerical Skills: Perform complex mathematical analysis with minimal supervision.
  • Data Collection and Analysis: Analyze data trends and provide decision-making insights.
  • Data Mining and Machine Learning: Extract patterns from large datasets.
  • Reporting: Generate clear, effective reports with minimal supervision.
  • Compliance Management: Ensure adherence to all relevant rules and regulations.

Qualifications:
  • Bachelor's or Honours degree in Actuarial Science or a related field.
  • Actuarial qualification or significant progress toward one.

Experience:
  • At least 3 years of actuarial experience within the financial services sector.

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