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  • Posted: May 26, 2021
    Deadline: Not specified
  • Nedbank Group Limited is a bank holding company that operates as one of the four largest banking groups in South Africa. The company's shares have been listed on the JSE Limited since 1969. The group offers a wide range of wholesale and retail banking services through four main business clusters, namely Nedbank Corporate and Investment Banking, Nedbank Retai...
    Read more about this company


    Manager Life Solutions - Senior Actuary

    Job Purpose

    • To provide actuarial oversight, product development, pricing and management, includin the strategic direction thereof, to internal and external stakeholders of Nedbank Insurance, in line with Nedbank's Client Value Proposition for all segments and products, written on the life licences of Nedbank Insurance.

    Job Responsibilities

    • Manage a team of Life portfolio owners, namely credit life, simple risk and investments. You will be responsible for the products performance, pricing optimisation and management, and reporting on the same into the Head of Client Solutions and the INEXCO. Additionally, you will be responsble for the successful development of new products, the decommissioning of closed products as well as enhancements to the current range. All of these will be in line with the relevant legislation, and industry and professional guidance notes as appropriate.
    • Your team will be expected to oversee the compilation of competitor information and other benchmark data to assess the relative positioning of the products under your responsibility. At all times being mindful of the Nedbank's client centred approach to product development, as well as the associate market conduct consideraions.
    • Driving the reporting through real time dashboards, you will be expected to provide the necessary insights to ensure that products perform as expected in line with the 3 year plans, as well as achieving the agreed contributions to earnings. Detailed product reviews are required on a regular basis, and you are expected to provide further insights into the products structure and utilisation.
    • Work closely with the other functional areas, namely Distribution and Client Experience to set priorities in the 3 year plans which ensure that the scarce resources are most optimally allocated to meeting client needs. The business relies on your team to provide the conent for all the marketing collateral, whether it is physical or digital in nature.
    • Driving the pricing strategy for the products, including the expected levels of contribution to expenses, as well as utlisation of capital, and engage wit the HAF to ensure there is alignment of the function with their oversight responsibilities.
    • Stay abreast of developments in your field of expertise, as well as the Insurance Industry in general, both locally and internationally.
    • Nedbank is committed to the personal growth and development of all employees. As a member rof the extended leadership team, you will actively contribute to the forming and delivery of the strategy of the business and be expected to inculcate the desire culture, not only within your team but across the business. 

    People Specification

    • Essential Qualification - NQF Level
    • Matric / B.Deg (Hons) (Actuarial Sciences)

    Fellow of the Actuarial Society of South Africa. Qualified Actuary.

    Type of Exposure

    • Checking accuracy of reports and records
    • Drafting and / or presenting reports
    • Built and maintained stakeholder relationships
    • Resolving conflict
    • Communication internal and external stakeholders
    • Influencing stakeholders to obtain buy-in
    • Leading a diverse team
    • Working in a fast-paced environment.

    Minimum Experience Level

    • 10 years in an Insurance's Actuarial Field and at least 5+ years post qualification.

    Must be a Qualified Actuary / Fellow Member (ASSA)

    • Technical / Professional Knowledge
    • Business principles
    • Business terms and definitions
    • Governance, Risk and Controls
    • Data analysis
    • Relevant software and systems knowledge
    • Banking knowledge
    • Insurance
    • Strategic Analysis

    Behavioural Competencies

    • Technical/Professional Knowledge and Skills
    • Quality Orientation
    • Decision Making
    • Influencing
    • Monitoring Information
    • Innovation

    Method of Application

    Interested and qualified? Go to Nedbank on to apply

    Note: Never pay for any training, certificate, assessment, or testing to the recruiter.

  • Send your application

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