Actuarial Pricing Manager

1 week ago

Johannesburg, South Africa Sanlam Full time

Who we are
Safrican is a respected life insurer with a footprint in South Africa and a subsidiary in Eswatini. Safrican has over 2 million principle lives covered and more than 7 million lives assured, The Company has grown from strength to strength since 2004. Job Purpose This role focuses on managing the Quotations and Renewals function of the Actuarial team. The role will entail the timeous delivery of new quotes and scheme renewals for predominantly group funeral insurance. In addition, the incumbent is expected to stay up to date with the latest legislative requirements, with regards to funeral and credit life insurance. Furthermore, managing the various stakeholders (Sales, Operations, etc.) will be a key responsibility. Lastly, new product development will form part of the scope for the incumbent. Formal Qualifications & Experience
Actuarial Degree
Actuarial student, with a minimum of 8 actuarial exams.
Minimum of 3 years’ experience at a Life Insurance company.
Previous pricing experience will be advantageous
Knowledge and skills
Proficiency in Microsoft Office Key Responsibilities
Assist the Actuarial Executive on all product development and pricing functions. This role will entail mainly a pricing focus, with some exposure to product development.
Manage monthly, quarterly, semi-annual and annual reporting for both internal and external stakeholders. These will include profitability reports, scheme and membership stats of the Group Benefits.
Provide technical assistance to the Group Benefits distribution and administration functions.
Designing new products and solutions and support product development initiatives including the design and pricing of insurance products and maintenance of existing products.
Pricing of new group schemes and reviewing of existing group schemes based on claims experience.
Compilation of product specifications and benefit design, premium rating, profit testing, product technical specifications and in some cases participate in the finalisation of documentation per product offering.
Monthly reporting on profitability, scheme renewals and quotations, highlighting any risks.
Design, amend and implement tools and pricing models to support the pricing functions within the business.
Ensure all products and schemes are TCF/PPR compliant
Adhoc investigations Behavioural Competencies, Skills and Attributes
Adhere to the Sanlam Group and Safrican values
Good people skills
Accountability
Accuracy and attention to detail
Prioritisation skills and ability to commit to deadlines
Good planning and organising skills
Analysis / Problem-solving skills
Sound judgement and ability to make decisions on incomplete information.
Good written and verbal communication skills
Ability to manage the expectations of internal and external parties
Ability to work independently and within a team
Our commitment to transformation
Safrican is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. Safrican Employment Equity plan and targets will be considered as part of the selection process.

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