Overview
Intermediate Actuarial Specialist Jobs in Johannesburg, South Africa at Old Mutual
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Job Description
Role Overview
The Actuarial Value Management team is responsible for the Pricing, Reinsurance and Experience Investigations of new and existing retail protection propositions across the Retail Mass and Retail Affluent Segments in South Africa. Product Development and Pricing support is also provided to our Africa Regions businesses.
The Actuarial Value Management team has anexcitingopportunity for an Intermediate Actuarial Specialist. The key focus areas of the role will be to provide support on developing and pricing of the retail protection products in the Old Mutual Africa Regions (“OMAR”) i.e. all other African countries where Old Mutual operates. The role will include partnering with stakeholders in-country, as well as in the central supporting functions, to ensure sound retail protection solutions are developed.
This role will offer exposure to business cases, product design, pricing and experience investigations work, within a range of product types including Death, Disability, Critical Illness and Funeral. The candidate will also be expected to work incross-functional teams, and engage with senior stakeholders across IT, Legal, Sales, Finance and Operations as part of the projects they will be a part of, as well as general consultative support.
The breadth of work will provide an excellent platform to grow both technical and interpersonal skills.
Key Result Areas
Product Development and Pricing:
Complete/Review of business cases
Complete/Review the Product Design specification
Complete/Review the Pricing & Profitability specification
Develop/Adapt/Review of pricing models supporting the Pricing & Profitability specification documents
Review of Customer facing Literature that may be developed as part of the solutions
Implementation support of new developments
Engagement with stakeholders in providing consultative support and expertise
Product management of specific product lines
Monitoring and Analytics including experience investigations
Work with the South Africa business on specific deliveries and general product support as needed
Support the risk management capability and infrastructures in-place withrespectto any risks which may arise.
Reinsurance:
Assisting management with reinsurance optimisation strategies
Ad-hoc reinsurance modelling
Regular monitoring and assessing of reinsurance structures
Engaging with IT for the successful implementation of reinsurance structures and processes on the administration system
Supporting contractual work related to reinsurance
Skills, Qualifications and Experience Required
Actuarial student progressing well with Actuarial Exam Credits (recent graduate or less than 2 years’ work experience)
Actuarial work experience would be an advantage
IFRS 17 knowledge would be an added advantage
Knowledge of the customer needs met by retail protection products
Proficient in Microsoft Office 365 apps (Advanced use of Excel and VBA are a must, while any Coding/Access/SQL/R/Prophet experience would be an added advantage)
Good interpersonal andcommunication skills
Ability to work independently, as well as in a team
Ability to work on a wide range of deliverables over a given period of time
Good time management to work towards deadlines
Please note: the appointments may be made at a lo…
Title: Intermediate Actuarial Specialist
Company: Old Mutual
Location: Johannesburg, South Africa
Category: Finance & Banking, Insurance
