Job title : Senior Specialist: Actuarial Job Location : Gauteng, Johannesburg Deadline : January 12, 2025 Quick Recommended Links Jobs by Location Job by industries Purpose Provide expert advice and support in the development and pricing of Corporate Umbrella products, ensuring sound commercial and financial decisions to meet financial targets.
Key Responsibilities Be part of the Corporate Benefits Umbrella Solutions team, managing Liberty's umbrella products.
Serve as a senior member of the Umbrella Solutions Management team, responsible for the development, maintenance, pricing, and financial performance of these products.
Collaborate with internal stakeholders, including Valuations, Special Quotes, Investment Product, Risk Product, Finance, and Distribution, to ensure competitive pricing while achieving internal financial targets.
Work closely with the Umbrella Product Management and Technical Marketing teams on a daily basis, providing necessary support.
Engage in specialist actuarial modelling and analysis focused on product pricing and profitability.
Design, manage, and own models and reports used for internal decision-making.
Participate in strategic discussions with internal business departments on product pricing and distribution strategies.
Conduct modelling and financial feasibility studies for both new and existing products.
Manage and develop junior staff, overseeing their work output and professional growth as needed.
Minimum Experience 5 years' experience in a similar environment, of which at least 3 years at a specialist level.
Additional Minimum Experience Experience in the life insurance, investments, or retirement benefits industry Specialist knowledge of actuarial product pricing and/or reserving Expertise in actuarial modelling In-depth knowledge of life insurance products (essential); knowledge of employee benefits products (an added advantage) Experience with IFRS 17 reporting and modelling (particularly for Group Insurance and Investment Products) preferred Embedded value/profit reporting and modelling experience preferred Experience with Umbrella Fund or Corporate Investment products would be an added advantage Minimum Qualifications Bachelor's Degrees and Advanced Diplomas [NQF Level 07] in Actuarial Science, Mathematics, Statistics, or a related field.
Associate member of the Actuarial Society of South Africa (ASSA).
Process Consult in area of expertise to provide specialist input into the development and amendment of policies, processes and procedures.
Understand and apply existing best practice frameworks to assist in the implementation of identified subject matter processes and standards.
Determine probabilities and assess risk through the application of mathematical modelling techniques and statistical concepts.
Translate and communicate complex specialist area information to users in a practical and usable format to enhance business utility.
Identify, diagnose and recommend improvements and provide specialist advice and support; ensuring that solutions are appropriate and effective.
Make recommendations to existing products based on market needs, product performance and competitor analysis to increase sales volume and profitability.
Perform required actuarial and other analyses for management reporting, and make recommendations to support these analyses.
Create and update database/s with findings, recommendations and relevant information to enhance the identification of trends and analysis.
Accountable for the improvement of quality, service and work outputs, continuously recommending improvements.
Plan for the organisation of work outputs and process improvement activities in light of a specific situational context related to the area of specialisation.
Proactively identify area of specialisation related problems, determine cause and effect and recommend the best option to implement corrective action based on previous experience.
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