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    • Careers at Momentum

    Posted: May 20, 2022
    Deadline: Jun 3, 2022
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  • Actuarial Specialist

    Role Purpose    

    • To assist with actuarial product management tasks as an Actuarial Specialist in the Legacy Solutions Product Management team in Cape Town.

    Requirements    

    • Matric/Grade 12;
    • An actuarial or B-degree with mathematics or statistics as majors;
    • Good progress with actuarial subjects where pass in A111, A112, A113, A211 and A213 or equivalent would be essential.
    • Experience in product management, product development and/or product pricing in the individual life insurance industry would be an advantage;
    • Proficiency in insurance products, contracts and knowledge of the relevant industry legislation and relevant industry agreements;
    • Sound numerical skills and computer literacy is essential especially in the use of MS Excel and MS Work;
    • Skills/experience in data management and extraction would be an advantage.

    Duties & Responsibilities    

    • The product management of legacy solutions by adequately balancing the objectives of the different stakeholders:
    • Profitability management of existing products;
    • Implementation of changes to align with legislation;
    • Identify system errors, propose the most appropriate way to fix these and ensure the successful implementation;
    • Ensure that clients are treated fairly through product design, communication and advice, and address any areas on the in-force book where improvement in this respect is required;
    • Extraction of maximum value on legacy products through reinsurance optimisation and other initiatives.
    • Play a role in the consolidation of legacy products which will involve the following:
    • Rationalisation of the existing product range and providing the necessary specifications;
    • Planning and implementation of the migration of business from one system platform to another;
    • Analyse system data, specification and create output files and reports as required by the business in respect of the consolidation and migration of the product ranges.
    • (Co-)create the appropriate product enhancements/changes to be made on legacy solutions together with other product specialists and segment managers:
    • Documenting and reviewing all existing product bases;
    • Propose the appropriate enhancements/changes to existing products and benefits;
    • Monitor the experience of important actuarial basis items (e.g. mortality, lapses, etc.) and propose and/or implement rectifying actions where appropriate.
    • Positively influence and participate in change initiatives.
    • Continuously develop own expertise in terms of professional, industry and legislative knowledge in order to propose the most relevant and innovative client solutions and comply with governance requirements. 
    • Contribute to continuous innovation through the development, sharing and implementation of new ideas. 
    • Providing the business requirements and supporting the implementation of:
    • Improving client value through the levers that drive it;
    • Legal and compliance requirements;
    • Product, process and data improvements.
    • Produce special quotations for new and existing Metropolitan Life products.
    • Test the implementation of system product changes.
    • Providing support to the service areas in terms of product content.
    • Managing own performance and development.
    • Ensuring effective and consistent service delivery and support to both internal and external clients in line with the Company Values and Treating Customers Fairly Principles.

    Competencies    

    • Ability to examine and interpret data and provide insights
    • Strong technical expertise
    • Achievement orientation
    • Effectively manage time and ensure optimal productivity.
    • Client-centric and focus on proving customer service
    • Excellent analytical and communication skills
    • Results and solution focused
    • High degree of self-motivation and can work independent of supervision
    • Naturally inquisitive mind set, with a strong innovative tendency
    • Self Confidence
    • Flexibility to cope with pressure and setbacks
    • Delivering results and meeting expectations

    go to method of application »

    Actuarial Product Specialist - Africa

    Role Purpose    

    • The purpose of this role is to perform actuarial product development tasks as well as product and risk management of all retail risk and savings products for a number of African subsidiaries.

    The incumbent will form part of the team responsible for:

    • Product design
    • Setting the risk management framework,
    • Product pricing, and
    • Maintaining existing products
    • Ensuring that product remain competitive, relevant and meets profitability targets

    The incumbent will play a key role in the Legacy Solutions Product Development team servicing the MM Africa Segment at the Bellville office.

    Requirements    

    • Nearly qualified actuary or good progress with the actuarial exams;
    • Two to Three year’s work experience, preferably in product development.
    • Proficient in MS Office Packages (MS Outlook, MS Word, MS Powerpoint, MS Excel)

    Experience in the following will be advantageous:

    • Moses;
    • Prophet;
    • SQL;
    • VBA

    Duties & Responsibilities    

    • Contributing to the delivery of innovative, value-for-money products to the market through the development, pricing and design of new products.
    • Ensuring ongoing competitiveness and attractiveness of the individual life risk product range both from a product and pricing perspective.
    • Delivering efficient and consistent service and support to all internal and external clients, hence ensuring a quality interaction and relationship with all stakeholders.
    • Collaboration with all the other relevant stakeholders (internal and external) such as valuations, claims, underwriting, reinsurance partners etc.
    • Understanding and using actuarial models both in terms of the regulatory and commercial environment.
    • Contributing towards projects, initiatives, queries and team initiatives.
    • Living the MM values namely Accountability, Diversity, Excellence, Integrity, Innovation and Teamwork.
    • Investigating, proposing and obtaining approval for the proposed product range changes;
    • Driving and controlling successful implementation of product suite initiatives through to delivery including:
    • Provide useful product and market insights to the segment businesses;
    • Benefit design, basis setting and pricing;
    • Close liaison and input into underwriting, enrolment and claims departments;
    • Setting up of all administration, systems, legal and other required processes to deliver the product to market;
    • Developing a close working relationship with the key distribution channels to ensure buy in to all products initiatives;
    • Providing technical input and oversight of the product specific aspects contained in Client Facing Documents e.g. the User Guide and Contract.
    • Ongoing monitoring and maintenance on each of the products in the range including:
    • Monitoring sales volumes and experience in order to propose corrective actions and identify opportunities;
    • Special quotes and queries;
    • Building relationships and interacting with other disciplines in the organisation to ensure proactive management actions are taken;
    • Underwriting (including claims), Valuation and Investment management;
    • Applying health insights in mortality and morbidity to improve client value as well as the profitability of Client Value Propositions.

    Competencies    

    • Achievement orientation;
    • High degree of self-motivation and can work independent of supervision
    • Delivering results & Meeting Customer Expectations
    • Working with people and relationship building;
    • Analytical and conceptual thinking;
    • Proactive

    Method of Application

    Use the link(s) below to apply on company website.

     

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