Fellow of the Actuarial Society of South Africa (ASSA) or Institute or Faculty of Actuaries (UK).
Knowledge & Experience:
Must have at least 5 to 10 years of experience (product development, pricing or reinsurance experience in products similar to PPS’ product range will be advantageous).
Attention to detail is critical.
Knowledge of actuarial principles and retail insurance products.
Knowledge and background of the financial services industry.
Excellent verbal and written communication skills.
Computer literate, strong Excel skills required, Access, SQL skills would be beneficial.
Strong administration skills.
Knowledge of MS Office.
Proficient in the use of Prophet Actuarial modelling software.
Duties and Responsibilities
Development and maintain actuarial pricing models for existing products and future product enhancements using actuarial modelling software (Prophet).
Conduct pricing exercises as and when new products are introduced or w.r.t. enhancements to existing products, using actuarial modelling techniques and Prophet.
Determine appropriate pricing assumptions for new product enhancements, with the support of product development team and perform sensitivity testing on these assumptions.
Analysing PPS data and experience to support pricing assumptions and to support the broader business in making decisions.
Gain approval from Corporate Actuarial and Head of Actuarial Function on pricing assumptions.
Monitor pricing basis for existing products to assess appropriateness of assumptions.
Propose changes to pricing basis based on emerging experience and engage with Corporate Actuarial Function to align the valuation basis with the pricing basis, where appropriate.
Responsible for in-depth monitoring of claims trends and reporting of insights to the regular Claims Committee meeting.
Chair the Claims Committee meeting, which includes attendees from the Group Executive Committee.
Providing actuarial support to various other areas, and the broader business e.g. Technical Marketing, IT related investigations, testing support, etc.
Support the Technical Marketing team with ongoing competitor investigations.
Compilation of management reports and special investigations from time to time including support of new initiatives/enhancements to existing products via the PPS Product Governance framework.
Alignment of PPS Actuarial functions with published ASSA Guidance notes, and other regulatory requirements
Actively coach and mentor actuarial team members to enhance their work competency levels.
Manage junior actuaries in the delivery and execution of the work deliverables.
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