Actuarial Analyst: Pricing at Capitec Bank

Purpose Statement

• Deliver technical actuarial support on all elements of the actuarial pricing function for Capitec Life, including experience analysis, choosing rating factors, profit testing, developing code for new product features and competitor analysis.

Experience
MINIMUM:

• Minimum 3 years of actuarial experience within a technical actuarial role.
• Pricing, valuations, reporting and/or capital management experience.
• Stakeholder relationship management.

IDEAL:

• Experience of a high performance environment, working to tight deadlines and under pressure.
• Experience in life insurance pricing, profit testing, analysing impacts and communicating with a range of stakeholders.
• Experience with IFRS17 and reporting software.
• Experience in building statistical or predictive models (GLMs, regression, machine learning, etc.).
• Experience in working with data visualisation technologies (Power BI, etc.).

Key Performance Areas

• Pricing and Profit Testing
• Experience Analysis and Rating Factors
• Prophet Model Development
• Competitor Analysis
• Stakeholder Engagement

Qualifications (Minimum)

• Bachelor's Degree in Actuarial Science or Mathematics

Knowledge
MINIMUM:

• Strong SQL proficiency for accessing and managing data.
• Prophet and/or Python coding ability for model development.
• General knowledge in actuarial principles, standards, tools, systems, models and methodologies.
• General knowledge of the life and/or short-term insurance industry and landscape.
• Knowledge and understanding of regulatory and legal requirements related to insurance.
• Actuarial student with 10 ASSA exam passes: Good progress with actuarial exams and intention to complete actuarial studies. Minimum requirement of having passed Actuarial Risk management (Current A311, prior CA1)

IDEAL:

• Experience analysis and decrement table construction.
• Relevant knowledge of actuarial modelling and data infrastructure.
• Solid understanding of insurance data, policyholder behaviour, and model deployment principles.
• Understanding how to apply predictive modelling and statistical techniques to build business solutions.
• Knowledge of insurance industry dynamics, competitors and products
• Familiarity with IFRS 17, Financial Soundness Standards for Insurers. 

Skills

• Analytical Skills
• Attention to Detail
• Numerical Reasoning skills
• Planning, organising and coordination skills
• Reporting Skills

Conditions of Employment

• Clear criminal and credit record