Careers at Momentum

Role Purpose    

• The purpose of this role is to perform actuarial product development tasks as well as product and risk management of all retail risk and savings products for a number of African subsidiaries.

The incumbent will form part of the team responsible for:

• Product design
• Setting the risk management framework,
• Product pricing, and
• Maintaining existing products
• Ensuring that product remain competitive, relevant and meets profitability targets

The incumbent will play a key role in the Legacy Solutions Product Development team servicing the MM Africa Segment at the Bellville office.

Requirements    

• Nearly qualified actuary or good progress with the actuarial exams;
• Two to Three year’s work experience, preferably in product development.
• Proficient in MS Office Packages (MS Outlook, MS Word, MS Powerpoint, MS Excel)

Experience in the following will be advantageous:

• Moses;
• Prophet;
• SQL;
• VBA

Duties & Responsibilities    

• Contributing to the delivery of innovative, value-for-money products to the market through the development, pricing and design of new products.
• Ensuring ongoing competitiveness and attractiveness of the individual life risk product range both from a product and pricing perspective.
• Delivering efficient and consistent service and support to all internal and external clients, hence ensuring a quality interaction and relationship with all stakeholders.
• Collaboration with all the other relevant stakeholders (internal and external) such as valuations, claims, underwriting, reinsurance partners etc.
• Understanding and using actuarial models both in terms of the regulatory and commercial environment.
• Contributing towards projects, initiatives, queries and team initiatives.
• Living the MM values namely Accountability, Diversity, Excellence, Integrity, Innovation and Teamwork.
• Investigating, proposing and obtaining approval for the proposed product range changes;
• Driving and controlling successful implementation of product suite initiatives through to delivery including:
• Provide useful product and market insights to the segment businesses;
• Benefit design, basis setting and pricing;
• Close liaison and input into underwriting, enrolment and claims departments;
• Setting up of all administration, systems, legal and other required processes to deliver the product to market;
• Developing a close working relationship with the key distribution channels to ensure buy in to all products initiatives;
• Providing technical input and oversight of the product specific aspects contained in Client Facing Documents e.g. the User Guide and Contract.
• Ongoing monitoring and maintenance on each of the products in the range including:
• Monitoring sales volumes and experience in order to propose corrective actions and identify opportunities;
• Special quotes and queries;
• Building relationships and interacting with other disciplines in the organisation to ensure proactive management actions are taken;
• Underwriting (including claims), Valuation and Investment management;
• Applying health insights in mortality and morbidity to improve client value as well as the profitability of Client Value Propositions.

Competencies    

• Achievement orientation;
• High degree of self-motivation and can work independent of supervision
• Delivering results & Meeting Customer Expectations
• Working with people and relationship building;
• Analytical and conceptual thinking;
• Proactive