Actuarial Manager at Discovery Limited

About the Role

• This is a commercially focused actuarial role for someone who wants to move beyond traditional reserving and valuation work and get their hands into the financial engine of a dynamic, fast-moving business. You will sit within the Vitality Actuarial team and play a central role in keeping the Vitality programme financially sustainable, optimising partner economics, and providing the quantitative rigour behind strategic business decisions.
• What makes this team unique is proximity to impact. Vitality is an analytically led organisation – your models and analysis don’t disappear into a queue; they become the basis for executive decision-making, partner negotiations, and product design. You will work closely with business stakeholders at every level, including directly with the CEO, and you will see the real-world consequences of your work manifest in the programme. Few actuarial roles offer this combination of commercial depth, strategic visibility, and direct line of sight to outcomes.
• If you’re energised by understanding the financial dynamics of a business, identifying opportunities to improve unit economics, and working in an environment that is constantly changing and challenging – this role is built for you. The pace ensures continuous learning and growth; the complexity ensures you will never be bored.

Key Responsibilities

Financial Planning & Sustainability

• Own and maintain Vitality’s financial projection models, including annual budgets, rolling forecasts, and scenario analysis.
• Track actual vs. budget performance, investigate variances, and provide clear, actionable commentary to senior leadership.
• Model the financial impact of product changes, pricing decisions, and engagement trends on the programme’s overall sustainability.
• Support the development of long-term financial plans that balance member value with commercial viability. Partner Commercials
• Analyse the economics of Vitality’s partner network (rewards, fitness, retail, travel, and device partners) to assess commercial sustainability and value exchange.
• Build and maintain models to evaluate partner deal structures, pricing, and renegotiation scenarios.
• Provide data-driven input into partner negotiations, quantifying the value Vitality delivers and the cost of partner benefits.
• Monitor partner utilisation and cost trends, flagging risks and opportunities early. Business Optimisation & Deep Dives
• Conduct forensic deep dives into cost drivers, revenue leakage, and engagement economics to identify optimisation opportunities.
• Analyse member behaviour at a granular level to understand the financial implications of engagement patterns, tier migration, and lapse.
• Work cross-functionally with product, marketing, and engagement teams to quantify the ROI of initiatives and support prioritisation decisions.
• Propose benefit enhancements and changes to improve ROIs
• Develop dashboards and reporting tools that give stakeholders real-time visibility into financial and operational performance. Actuarial & Strategic Support
• Contribute to the actuarial evidence base underpinning Vitality’s shared-value model, including claims savings attribution and behavioural economics.
• Support ad hoc strategic projects as required by the Head of Vitality Actuarial, Chief Actuary, CFO, Head of Commercial or CEO.

Requirements
Qualifications

• Newly qualified actuary (FASSA or equivalent international qualification).
• Strong academic track record.

Experience

• Actuarial student experience in a financial, commercial, or consulting environment preferred (health insurance, life insurance, banking, or consulting).
• Exposure to budgeting, financial modelling, or commercial analysis is advantageous.
• Experience working with large datasets and translating data into business insights.

Technical Skills

• Advanced Excel modelling skills (essential).
• Proficiency in SQL and Python is advantageous
• Experience with BI/visualisation tools (Power BI, Tableau, or similar) is a plus.
• Comfortable building models from scratch and stress-testing assumptions.

Attributes We’re Looking For

• Commercially minded: You think in terms of business outcomes, not just actuarial outputs.
• Curious and tenacious: You love pulling at threads until you understand what’s really driving the numbers.
• Clear communicator: You can distil complex financial analysis into crisp narratives for non-technical stakeholders.
• Ownership mentality: You take accountability for your work and proactively flag issues and opportunities.
• Collaborative: You thrive working across teams – product, commercial, engagement, and finance – not just within an actuarial silo.
• Thrives on change: You’re energised, not unsettled, by a business that constantly evolves and challenges the status quo.