Pricing Actuary - Johannesburg at Absa Group Limited (Absa)

Key accountabilities :

• Investigating product performance-related issues and queries and recommending pricing solutions to product owners, product managers, and other functional areas of the business
• Investigate new pricing trends, and methodologies and recommend new rating factors
• Support product managers in designing new products or features and highlight the impact of proposals on premium rates, competitiveness, fair treatment of customers, and profitability
• Support product managers in developing business cases and socializing them with management and business partners
• Develop and socialize pricing assumptions with key stakeholders including product managers, management, reinsurance partners, risk functions, and the Head of Actuarial Function
• Pricing of new products in line with pricing guidelines and Model Risk Standard
• Socializing new rates with product managers and business partners and supporting them in getting buy-in from management
• Managing all pricing exercises in accordance with all applicable governance processes and Standards, including engagements with the Head of Actuarial Function to ensure rates are signed-off
• Supporting the product managers and IT to ensure successful implementation of new rates
• Supporting the Head of Pricing in the development, planning, and execution of the pricing deliverables
• Coaching and development of junior colleagues within the team and checking an
• Checking and reviewing colleagues’ pricing exercises to ensure accuracy of outputs for sound business decision making and ensuring a robust control environment

Additional :

• Have at least 2 years post qualification experience but negotiable
• Have at least 3 years of life insurance pricing experience. Product development or valuation-related life insurance experience would be an added advantage
• Are able to work independently, are self-motivated, and passionate about executing effectively and with high quality
• Have Prophet and SQL working experience and you are keen to learn new programming languages

Education

• Bachelor's Degree: Actuarial Science