Actuarial Analyst: Product at Capitec Bank

Purpose Statement

• Deliver technical actuarial support on all elements of the actuarial product function for Capitec Life, to enable the enhancement of existing products, design of new insurance products and creation of value-added services.
• To provide business improvement insights and suggestions by defining client segment opportunities and working with the pricing team to understand profitable segments. To conduct reporting for the purposes of ongoing optimisation of the insurance book.
• Develop and maintain actuarial models used for product development.

Education (Minimum)

• Bachelor's Degree in Actuarial Science or Mathematics

Knowledge and Experience
Minimum:

• Strong SQL proficiency for accessing and managing data.
• 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.

Ideal:

• Solid understanding of insurance data, policyholder behaviour, and product design principles.
• Relevant knowledge of valuations/reporting and/or capital management
• Business case conceptualisation, principles and compilation
• Knowledge of insurance industry dynamics, competitors and products
• Familiarity with IFRS 17

Experience

• Minimum 3 years of actuarial experience within a technical actuarial role.
• Experience of life insurance product design, segmentation, marketing and client experience.
• Proven experience in analysing and manipulating data to identify trends and/or opportunities
• 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.).

Skills

• Analytical Skills
• Attention to Detail
• Numerical Reasoning skills
• Planning, organising and coordination skills
• Reporting Skills
• Additionally, we would like you to have
• Strong SQL coding proficiency
• Statistical model development (GLM, regression)
• Excellent attention to detail and critical thinking
• Conceptual thinking and communication of complex topics to non-technical audience
• Key Performance Areas
• Product Development
• Experience Analysis
• Client Insights
• Competitor Analyisis
• Ad-Hock Valuation and Pricing
• Stakeholder Engagement
• Additional Information
• Clear criminal and credit record