Senior Pricing Actuary at Santam Insurance

What will make you successful in this role?

• To assist in the management of reinsurance pricing activities. Reinsurance pricing is a key activity in underwriting of reinsurance treaties. Before any reinsurance treaties are accepted it must go through a vigorous pricing analysis. 

KEY ACCOUNTABILITIES:

• Ongoing training of interpretation of data & pricing principles.
• Pricing of Santam Re’s larger contracts and complicated reinsurance treaties
• Maintenance and development of Santam Re pricing tools
• Research and development of reinsurance portfolio optimisation
• Develop a detailed understanding of Santam Group, Santam Re and New Re underwriting guidelines.
• Review pricing assumptions and output produced by underwriting team
• Review slip checks and underwriting guideline checks performed by underwriters
• Work with reserving team to determine profitability by business segment on a quarterly basis
• Visit markets to form general underwriting and pricing views of the markets.
• Develop and maintain dashboards for underwriters and client relationship managers for market visits.

Qualifications & Experience

• Qualified Actuary is preferred otherwise close to qualification
• A minimum of 3 years’ experience in reinsurance pricing (preferably 5 years)

Skills

• Understanding of how risk is shared between insurer and reinsurer on various types of
• reinsurance contracts is critical.
• Strong analytical and problem-solving skills, with proficiency in mathematical/statistical
• techniques and software tools (e.g., Excel, Access, VB, SQL). Ability to collate statistical data
• analytics.
• Knowledge of actuarial principles, insurance/reinsurance concepts, and risk management
• frameworks.
• Prior experience in reinsurance actuarial work
• Strong written and verbal communication skills.
• Ability to build and maintain good internal and external relationships.
• Strong presentation skills.
• Ability to conduct self in a professional manner at all times.
• High degree of self-management, displaying an organised and measured approach to the
• workload and the clients – strong planning and organising skills

Competencies

• Cultivates Innovation - Creating new and better ways for the organisation to be successful.
• Client Focus - Building strong customer relationships and delivering customer-centric solutions.
• Drives Results - Consistently achieving results, even under tough circumstances.
• Collaborates - Building partnerships and working collaboratively with others to meet shared
• objectives.
• Flexible and Adaptable (Being Resilient) - Rebounding from setbacks and adversity when facing
• difficult situations.
• Problem Solving Recognized as an expert problem-solver and troubleshooter. Decisions
• supported by sound judgment and proven results.
• Risk Management - Demonstrates the uppermost levels of expertise in risk management in
• challenging and complex situations for critical problems affecting key operations.
• Business knowledge and analysis Extensive knowledge of the entire business.
• Negotiating - Capable of building trust and gaining commitment in hostile and volatile
• environments in order to achieve results.