Who are we? Sanlam Life and Savings (SLS) is focused on serving our retail and corporate clients in South Africa and further developing our strategic advantages in the South African market. Sanlam Life and Savings consists of three clusters - Sanlam Corporate, Sanlam Retail Mass and Sanlam Retail Affluent. The Sanlam Life and Savings Office provides strategic direction, coordination and support to the three clusters, as well as performing governance oversight that includes assurance provided by second line of defense functions in SLS, to enable us to meet our business objectives.
Business Description: Sanlam Life and Savings (SLS) offers retail and corporate life insurance and investment products in South Africa across the spectrum – from entry level market to high-net-worth individuals and all size corporates. The cluster provides clients with a comprehensive range of appropriate and competitive financial solutions, designed to facilitate long-term wealth creation and protection. SLS believes in creating and cultivating a positive, energised working environment that gives you every opportunity to achieve success. We are committed to transformation and embracing diversity.
SLS: Actuarial Product Management forms part of the SLS: Actuarial department and provides services and technical support for businesses in SLS to develop and maintain products, ensure profitability and treat customers fairly.
It is important that you value Integrity, Care, Innovation and Collaboration in your work.
What will you do? Role description: This is an opportunity to assume the role of a basis-writer within Actuarial Product Management. The incumbent will primarily be responsible for writing, maintaining and critically evaluating product specifications for Savings and Glacier. In particular, the focus will be on developing Actuarial specifications for calculators, rewards, illustrative values and annuities. Furthermore, the incumbent will:
function as a team member of the Lifesavers calculator squad respond to technical client queries provide support to Actuarial Services and Actuarial Systems control provide feedback on basis-writer specifications and client communication You will have regular exposure to Product Actuaries and Designers.
Output/Core Tasks: Maintaining required Actuarial bases for Epsilon, the Savings calculators group and annuities Actively engaging with all relevant role players to write, implement and refine Actuarial bases Managing product specific projects and implementing product changes Function as a team member of the LifeSavers Calculator squad and participate in relevant cadences Documenting tasks, investigations and decisions Managing relationships with product actuaries, owners, analysts, programmers, testers and rate-makers Handling client, broker and internal queries Continuous routine tasks and maintenance of Actuarial data sets Quality assurance checks of client facing documents (CFDs) Peer review of other basis writer output What will make you successful in this role? Requirements: Qualifications: Business Degree Experience and skills: Minimum 1 year product experience Understanding of annuities, mortality risk and discounting Strong interpersonal skills The following would be advantageous:
Actuarial subject passes in financial mathematics and mortality Actuarial System's control experience Sound knowledge of the in-detail working of the Savings calculators group (ACE, RIC, Goal manager) as well as Sanlam's Epsilon products, processes and transactions Excel knowledge, especially the use of macros Personal attributes and Competencies: Interest in product management and development Team player Independent work approach and good time management Works well under pressure and can negotiate timelines and project deadlines with clients Analytical and conceptual thinking with the ability to develop pragmatic solutions Good mathematical and statistical skills Client orientation Innovative mindset and desire to drive positive change Strong technical and operational ability with a track record of delivering results Driven by the desire to add value in all aspects of work Effective communicator of complex technical information to diverse stakeholders, both verbal and written Curiosity and passion for continuous learning and development Skilled in building and maintaining stakeholder relationships Personal Attributes: Plans and aligns - Contributing independently Interpersonal savvy - Contributing independently Communicates effectively - Contributing independently Optimises work processes - Contributing independently Build a successful career with us We're all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.
Core Competencies: Being resilient - Contributing independently Collaborates - Contributing independently Cultivates innovation - Contributing independently Customer focus - Contributing independently Drives results - Contributing independently Turnaround time: The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.
Closing date: 4 October 2024 Our commitment to transformation: The Sanlam Group 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. The Group's Employment Equity plan and targets will be considered as part of the selection process.
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