Actuary at Discovery Limited

Key Purpose

• The main purpose of this role is to use analytics skills to optimise distribution channel remuneration and analyse churning experience.

Responsibilities

The successful applicant will be responsible for but not limited to the following broad job functions

• Analyse adviser and franchise net business flows to optimize distribution recognition and remuneration structures, including commissions, trail fees, franchise production-based recognition, franchise fees, and share allocation arrangements. This includes assessing the alignment between remuneration paid and the value of business retained, with a view to ensuring remuneration structures appropriately reflect sustainable business outcomes and fairly earned rewards.
• Monitor and analyse adviser replacement and churning behaviour across products, providing insights and recommendations on the effectiveness of retention and replacement rules and their impact on remuneration structures.
• Contribute to product innovation and development, using data analysis and experience investigations to support product design, pricing, and strategic decision-making, especially with regards to optimizing distribution remuneration and persistency experience.
• Provide ongoing actuarial and analytical support in resolving production-related queries, technical issues, and business challenges.
• Apply actuarial expertise to complex and non-standard business problems, delivering innovative and commercially sound solutions.
• Develop and maintain management information (MI) dashboards and data visualisation solutions that enable senior management to make informed decisions regarding retention, distribution, and recognition strategies.
• Support strategic data analytics initiatives, with scope to expand into broader business intelligence, predictive analytics, and decision-support projects as business needs evolve.
• Executive Communication, translating deep mathematical concepts and observed trends into clear, actionable advice

Education and Experience

Essential

• Recently qualified Fellow actuary or nearly qualified.
• 5 – 10 years’ Invest, Life insurance or other relevant financial industry experience
• MS Excel – Proficient
• Database experience (SQL)
• Data visualization software (e.g. Tableau)

Advantageous

• Industry experience applying ML/ regression models in analytics
• Experience with statistical software (R and/or Python)
• Previous systems implementation or software testing experience
• Programming experience and understanding. (e.g. VBA)

Required Competencies

• Self-starter able to show initiative and drive projects to completion with guidance.
• Applying Expertise and Technology
• Analysing
• Creating and Innovating
• Working with People
• Strong communication skills