Senior Actuarial Analyst at Telesure Investment Holdings (TIH)

JOB PURPOSE

• Provide actuarial technical support and coach/mentor junior analysts within the Non-Life Corporate Actuarial team.

Responsibilities

Reserving and Regulatory Reporting

• Extract claims data on a monthly basis to monitor reserve development and perform monitoring investigations to explain deviations. With trends observed, set assumptions and calculate reserves on a semi-annual basis that will be presented to Business, Audit and other external parties for approval. Validate financial information received and transform it for the solvency models. Using financial information and other extracted data, calculate solvency position and populate regulatory returns. Review changes in data used in solvency models to explain changes in solvency results. Report and present on solvency results to internal and external stakeholders.

Stakeholder Engagement

• Collaborate with internal (Actuarial) and external (Business) stakeholders. Keep stakeholders informed and up to date with project/analysis delivery and provide clear and concise feedback to stakeholders. Maintain measurable service levels on business requests and provide feedback that speaks to the business issue observed. Be on time and prepared for meetings with Business.

Data Collection & Analysis

• Use data from a wide range of sources to analyze key themes and identify possible impacts on the business. Extract and verify data (largely using SAS ) used for reserving and regulatory reporting work. Build data specifications or templates where data may be needed from external parties. Data/information to be reconciled against credible data sources (for example financials) to ensure the data is complete and accurate. Ensure definitions and assumptions are aligned to the problem statement.

Actuarial Modeling

• Develop, maintain and implement actuarial models and processes. Models to be fit for purpose and able to estimate the reality accurately. Models (and any form of estimation) to be clearly documented with the scope of use, definitions, data, and assumptions made. Regularly monitor reserving models to ensure model performance and that they are communicated back to the business.

Insights and Reporting

• Translate the monitoring results so they can be understood by Business. Engage different stakeholders within the business to explain monitoring results. Provide insights from monitoring to inform the Business of future modelling endeavours. Ensure monitoring is accurate and complete and regularly validated against credible data sources. Review of results on a regular basis and ready to be presented to Management.

Improvement / Innovation

• Review existing operations in own area of work and implement innovation processes to generate new ideas and ensure continuous improvements are delivered. Stay up to date with Business developments and develop solutions proactively within Business. Ensure data processes are continuously maintained and kept up to date. Continuous development/research of modelling techniques and feature engineering to improve model estimates.

Leadership and Direction

• Explain the local action plan to support team members in their understanding of what needs to be done and how this relates to the broader business plan and the organization's strategy, mission and vision; motivate people to achieve local business goals.

Performance Management

• Respond to personal objectives and use performance management systems to improve personal performance. OR Monitor the performance of the team; allocate work and review completion, take appropriate corrective action to ensure timeliness and quality; contribute to formal individual performance management and appraisal. Manage the development of pipelines and succession planning as well as performance scoring and management. This includes the setup of performance contracts and personal development.

Operational Compliance

• Identify, within the team, instances of non-compliance with the organization/ actuarial policies and procedures and/ or relevant regulatory codes and codes of conduct, reporting these and escalating issues appropriately. Maintain standards of integrity and professionalism as set out by the Actuarial Society of South Africa.

Building Capability

• Mentor and coach staff on a technical and professional front. Mentor and coach staff to develop data analysis, aggregation and cleaning skills and how to develop models and the review thereof.

EDUCATION

General Education

• Grade 12/ SAQA Accredited Equivalent (Essential)
• Bachelors / Honours degree in Actuarial Science or similar (Essential);
• Qualified or making good progression toward Actuarial qualification (Essential)

Experience

General Experience

• 4-6 years actuarial experience within a Short-Term insurance environment (Essential)