Actuarial Pricing Specialist at FNB South Africa

Job Description
Hello Future Actuarial Pricing Specialist

• Welcome to FNB, the home of the #changeables. We design for the shapeshifters and deliver products and services that make us incredibly proud of people that make it happen.
• As part of our team in FNB Wealth and Investments, you will be surrounded by unique talents, diverse minds, and an adaptable environment that lives up to the promise of staying curious. Now’s the time to imagine your potential in a team where experts come together and ignite effective change.

Are you someone who can:

• Analyse information and reports to identify trends, discrepancies and inconsistencies for decision making purposes through, continuous tracking of product profitability and detailed tracking of the entire income statement by understanding of all the levers of profitability and executing appropriately to pull these levers
• Develop actionable plans to drive up VNB (Value of new business) and VIF (Value of Inforce business)
• Break down drivers of VNB and VIF into its individual components and provide strategic direction for the business regarding pricing, campaigns, new product features
• Be comfortable with investments and risk product features. Identify and utilise opportunities for revenue growth to deliver on sales targets
• Develop, encourage and nurture collaborative relationships across area of specialisation
• Provide input into the development of the tactical strategy and develop and implement a supporting operational strategy

You will be an ideal candidate if you can:

• Continuously Analyse /Understand the FNB value proposition (pricing, rewards, product features) relative to the competition and enhance the product to drive market share growth through tacking market share and develop actionable plans to reach our market share targets and continuous tracking and optimization of product sales across channels
• Work with the Investment team, Portfolio Management team, Share trading team, Guaranteed products team, Structured products team, Sales team, the CVM team, Fraud team, Marketing team and the Analytics team to drive appropriate actions
• Manage annual pricing reviews using actuarial models (VNB and VIF)
• Continuously review and proactively optimize product features by understanding, maintenance and enhancement of various pricing and product systems and processes
• Engage in projects and initiative management around Pricing (including stakeholder management and engagement, pricing negotiations etc.)
• Ensure development and continuous value add improvement to operational processes

You will have access to: 

• Opportunities to network and collaborate
• A challenging working environment
• Opportunities to innovate

We can be a match if you: 

• Have 3-5 years’ experience in Product Pricing, Investment and Risk
• Are an Associate actuary or fully qualified actuary
• Build working relationships across teams and functional lines to enhance work delivery, collaboration and innovation
• Deliver customer experience excellence in own service delivery aligned to Organisational values and service standards