Actuarial Prophet Developer - Centurion at Momentum Metropolitan Holdings Limited

Role Purpose    

The role is focused on the development of the Momentum Retail’s valuation Prophet models at our Centurion office. These models include, among others, old and new generation risk products, single premium and recurring premium savings products, products with investment guarantees and various smoothed bonus and unit linked products. Exposure (within the Prophet models) will be gained on different reporting bases and reporting standards which include IFRS17, IFRS9, SAM, EV, VIF, sensitivity testing, projected balance sheets, solvency assessment and various other reporting elements.

• This role gives a unique opportunity to also gain insight into the features of the different products sold by Momentum Retail. Establishing development lists and priorities will require discussions and collaboration with fellow Actuaries and product valuation specialists, business units and product developers. Certain developments will expand beyond doing only Prophet coding where changes to data is needed, for example. The role will therefore give exposure to various other software programs like Excel, SQL, DCS and potentially Python.

Requirements    
MINIMUM QUALIFICATIONS  

•  Qualified or nearly qualified Actuary.
• Extensive knowledge in Prophet and Excel is required.
• Knowledge of SQL is preferred.
•  Exposure to IFRS17 is preferred.  

 MINIMUM EXPERIENCE

•  3 - 5 years of experience in Prophet development required.
•  3+ years’ experience in financial/insurance industry (preferred).

Duties & Responsibilities    

• Enhance and develop Actuarial Prophet models 

(Internal Process)    

• Ensure soundness of both liability calculations and embedded value calculations within Prophet models.
• Ensure compliance with reporting requirements and reporting standards.
• Ensure an acceptable level of accuracy in the Prophet models.
• Engagement with business units to implement product upgrades as well as other requirements.
• Engagement with production team members working in valuations to understand model change requirements.
• Write up model change documentation for internal and external review purposes.
• Provide support to valuation teams on how new modelling features should be used and incorporated.
• Assume a model owner role for models allocated.
• Continuously identify and implement modelling improvements in the Prophet models.
• Appreciate the impact of any Prophet development on the external reporting environment.
• Ensure an acceptable level of consistency between different Prophet models where the same functionality is incorporated.
• Stay abreast with updates of Prophet modelling software and new features included in the software suite.
• Be mindful of areas where certain modelling changes or tweaks can enhance reporting.
• Participate in company specific as well as industry forums on topics relevant to the actuarial reporting environment.
• Enable client centricity  within area of responsibility

(Client Services)  

• Provide expertise and advice to clients and stakeholders
• Build and maintain relationships internal and external stakeholders
• Contribute to the process of negotiating objective and realistic service level agreements, monitor appropriateness and recommend adjustments
• Define service practices which builds rewarding relationships, encourages innovation and allows others to provide exceptional client service.
• Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed
• Make recommendations to improve client service and fair treatment of clients within area of responsibility
• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service

Competencies    

• Business Acumen
• Client/ Stakeholder Commitment
• Drive for Results
• Leads Change and Innovation
• Collaboration
• Impact and Influence
• Self-Awareness and Insight
• Diversity and Inclusiveness