Intermediate Actuarial Specialist at Old Mutual

Job Description

The Retail Protection Team is seeking a suitably qualified individual for an Intermediate Actuarial Specialist role.

The successful incumbent will primarily be responsible for the pricing and profit testing of retail protection products, including any new and innovative propositions for our retail customers. They will also engage with various stakeholders including Finance, Product Design team and Experience and Analytics team.

The Team:

The Retail Protection Team is responsible for the design, development and maintenance of new and existing retail protection propositions across the lower and middle-to-high income markets in South Africa. Development support is also provided to our African businesses.

We are passionate about developing simple, yet innovative propositions that are relevant to our customer’s needs, deliver on its promises and ultimately enable our customers to achieve their financial dreams and goals.

Key Result Areas:

• Data: Producing data for the Pricing processes (Profit-testing model and pricing model) and conduct Competitor Premium analysis.
• Pricing: Setting premiums for new product developments, and re-pricing existing products.
• Profit Testing: Producing and analysing financial and client value metrics to support premiums, such as VNB, IFRS17 profit and reserving profiles.
• Model development: Developing new models for profit-testing, as well as maintaining and enhancing existing models.
• Product design: Providing technical input into the financial soundness, risk, client value and commercial viability for new product development proposals.
• Stakeholder Management and Business Engagement: Support the line manager to provide input during engagements with senior stakeholders, and the various areas within the business. Ensure that premiums and premium changes are implemented successfully and communicated appropriately.

Skills, Qualifications and Experience required:

• Actuarial student with a minimum of 9 credits and at least 2 years work experience
• Please note that exceptional candidates who do not meet the above requirement can still be considered for appointment at a lower role size.

The following would be advantageous:

• Protection Product knowledge, product development experience and modelling experience
• Experience with Prophet, DCS, SQL or Python

Key behavioural skills and attributes required to fulfil this role:

• Strong technical skills and attention to detail
• Business acumen and negotiation skills
• Good interpersonal and communication skills
• Ability to work independently, as well as in a team
• Ability to work on a wide range of deliverables over a given period of time

Skills

Education

• Bachelor of Commerce (BCom): Actuarial Science (Required), Bachelor of Science (BSc): Actuarial Science (Required)

Closing Date

• 29 October 2022