Product Development Actuary (Senior) at Discovery Limited

Key Purpose

Research, development and implementation of innovative insurance products and rewards mechanisms that will complement Discovery Insure’s existing suite of products.

Areas of responsibility may include but not limited to

• Research into strategic insurance initiatives / products to make informed and innovative product development decisions that meet the strategic aims of the business.
• Responsibility for the design, development and implementation of new products.
• Analytical and pricing capabilities to understand the financial implications and parameters involved when developing new products, to ensure profitable results.
• Ability to problem-solve and implement complex and innovative solutions.
• Project management of strategic initiatives.
• Preparation of presentations, proposals and reports to enable key stakeholders to make informed decisions.
• Initiation of projects including business case formulation, seeking approval from the necessary forums and using the current implementation structures to ensure successful implementation.
• Collaboration with various teams within Insure and the group on product development and strategic projects.
• Working with other teams to ensure products are operating in an efficient and accurate manner.
• Monitoring and reporting ongoing results to key stakeholders to ensure products are producing optimal results.

Skills

Technical Skills

• Modelling skills preferred
• Programming skills:
  • SQL (Intermediate)
  • Python/R (Basic)
• Microsoft Office (Excel, PowerPoint and Word) (Advanced)

Behavioural Skills

• Exceptional analytical, problem solving and research skills
• Creative thinking and the ability to operationalise innovation
• Ability to manage ambiguity and continuous change
• Sophisticated written and verbal communication skills
• Leadership qualities
• Project and people management
• Advanced modelling skills and statistical knowledge
• An ability to deal with complex issues as well as migrate between detailed and high-level requirements
• A drive and commitment to exceed expectations
• A reliability and dependability – can be counted on
• The ability to influence and negotiate across divisions and teams at all levels, and with external parties
• A thorough understanding of business dynamics and strategic challenges
• Understand the business and the Group well - advantageous
• Understand the market, competitors and other dynamics - advantageous

Education and Experience

• Matric (Essential)
• Fully completed Actuarial qualification (Essential)  
• 3-5 years of experience in a product development role (Advantageous)
• 3-5 years of experience in short-term insurance (Advantageous)