Job Openings at 1 Life Insurance

RESPONSIBILITIES

• Responsibilities are the combined tasks and duties that must be performed to reach the results in a role successfully.
• A Success Profile contains descriptions of the most important responsibilities.

Customer Needs Clarification

• Set clear objectives for each sales call; tailor standard materials to make presentations to decision makers; and ask relevant questions to gather information, to evaluate the customer's level of interest, and to identify and respond to areas requiring further information or explanation. Understand the customers’ unique profile, identify a relevant course of action based on customer needs and undertake an appropriate course of action to ensure customer satisfaction, delivered through financial needs analysis.

Sell Customer Propositions

• Identify the products or services that best meet the customer's stated needs, explain the selection to the customer, and invite the customer to make a purchase at the standard price/terms and conditions of sale. Options include sale of investment products such as lump sum/recurring. Understand and deliver the required individual targets such as, achieving talk time targets, sales targets and other targets.

Performance Management

• Priorities own workflow and ensure work is completed to the required standards of productivity, quality and timeliness; use performance management systems to improve personal performance. Achieve talk time targets, effectiveness targets and sales targets.

Customer Relationships Development

• Make calls to allocated customers to develop new relationships. Act as a first point of contact for customer. Manage contacts, connect with the client, develop rapport and form relationships to ensure positive customer experiences at all times.

Sales Opportunities Creation

• Identify potential customers by obtaining information, referrals, and recommendations from existing customers.

Operational Compliance

• Develop knowledge and understanding of the organization's policies and procedures and of relevant regulatory codes and codes of conduct to ensure own work adheres to those standards. Obtain authorization from a supervisor or manager for any exceptions from mandatory procedure.

Personal Capability Building

• Develop own capabilities by participating in assessment and development planning activities as well as formal and informal training and coaching; gain or maintain external professional accreditation where relevant to improve performance and fulfill personal potential. Maintain an understanding of products, relevant technology, external regulation, and industry best practices through ongoing education.
• Consistently achieves results, even under tough circumstances. For example, regularly pushes self to achieve outstanding outcomes; consistently establishes bold goals for own performance; is passionate about excellent results and significant contributions. Shows great tenacity to complete goals/initiatives in a timely way.

Communicates Effectively

• Develops and delivers multi-mode communications that convey a clear understanding of the unique needs of different audiences. For example, listens attentively and takes an interest. Keeps others well informed; conveys information clearly, concisely, and professionally when speaking or writing.

Instills Trust

• Gains the confidence and trust of others through honesty, integrity, and authenticity. For example, is consistently honest and straightforward; shares uncomfortable information in a clear and helpful manner. Maintains high ethical standards and professional codes of conduct.

Ensures Accountability

• Holds self and others accountable to meet commitments. For example, tracks performance and strives to remain effective, learning from both successes and failures. Readily takes on challenges or difficult tasks and has reputation for delivering on commitments.

Manages Complexity

• Makes sense of complex, high quantity, and sometimes contradictory information to effectively solve problems. For example, looks at complex issues from multiple angles; explores issues to uncover underlying issues and root causes; sees the main consequences and implications of different options.

Customer Focus

• Builds strong customer relationships and delivers customer-centric solutions. For example, digs deeply into customer feedback and drives the innovations that can enable the organization to better meet customers' future needs. Frequently adjusts approach to ensure customer needs are met and to improve service.

Education

• Matric / Grade 12 or SAQA Accredited Equivalent (Essential)
• RE5 (Essential)
• 120 FAIS Credits (NQF5) in Wealth management (Essential)
• Class of Business (COB) (Essential)
• 120 FAIS (NQF6) in Wealth management/ CFP/ equivalent (Advantageous)
• A relevant Finance related degree / diploma (Advantageous)
• 2 years sales experience in call centre

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RESPONSIBILITIES

Strategy Formation & Implementation

• Develop the strategy for a business area of significant function, anticipating mega-trends and complex challenges and opportunities. Ensure the strategy is successfully implemented and meets long-term business needs.
• Provide actuarial support to Head of Product and Pricing and CEO of 1Life.
• Ensure the effective management of product development and pricing framework.
• Responsible for implementing the Actuarial control cycle; ie development, deployment and monitoring thereof. Responsible for the management of key business metrics, such as value of new business, embedded value, and profit by product line.

Budgeting & Costing

• Take responsibility for setting and managing area budgets so they align with organisational strategy.
• Ensure the company is profitable through managing, setting and monitoring key drivers.
• Determine profitability of premium rates for all product lines as well as implementing annual reviews on existing policies.
• Perform budgets, forecasting and assumptions setting, in order to ensure profitability of the organisation.

Stakeholder Engagement

• Identify and manage stakeholders up to C-suite level, finding out their needs/ issues/concerns and reacting to these by leading and coordinating the development of stakeholder engagement plans to support the communication of business information and decisions.
• Maintain measurable service levels on business requests and provide feedback that speaks to the business issue observed.

Business Requirements Identification

• Elicit the most complex business requirements using a variety of methods such as interviews, document analysis, workshops, and workflow analysis to express the requirements in terms of target user roles and goals.
• Ensure business requirements need is clearly documented within the scope of use, definitions and assumptions made. Develop solutions that are in align with experienced assumptions.

Insights and Reporting

• Establish business-critical strategies to create, present, and communicate high impact data and analytics insights and recommendations to critical internal and external stakeholders.
• Ensure monitoring is accurate and complete and regularly validated against credible data sources.

Leadership and Direction

• Identify and communicate the actions needed to implement the function's strategy and business plan within the business area or department; explain the relationship to the broader organisation's mission, vision and values and motivate people to commit to these. Stay engaged and dedicated to achieving the business goals.

Improvement / Innovation

• Initiate, formulate and implement new business practices within a specific discipline while managing the development and/or delivery of a significant element of the organisation's change management program.
• Continuously review and find effective ways to improve on efficiencies across the business. Stay up to date with business developments and develop solutions proactively with business. Maintain continuous development/research of actuarial techniques and share insights with the team.

Building Capability

• Implement formal development frameworks for a substantial department. Provide others throughout the organization with informal coaching and mentoring.
• Mentor and coach staff on a technical and professional front. Ensure staff develop further skills and capabilities to ensure better model development.
• Assist staff to increase own capacity to automate processes. Encourage staff to leverage each other’s strengths, to improve the teams overall performance.

Model deployment and testing

• Plan and deliver systems changes and manage the team on a day-to-day basis to meet project timelines and quality requirements. Engage with users to identifyrequirements and work with the team to design solutions.
• Oversee the effective impact and sensitivity analysis to be performed before any deployment is done. Translate results from the impact/sensitivity analysis to
• Business to provide insight and what various pricing changes will mean on profitability and policy growth.
• Ensure monitoring processes are in place to measure the performance of the model/pricing. Oversee the effective tracking of various products and pricing changes and cohorts.

Operational Compliance

• Ensure that business activities within a significant area of responsibility comply with relevant external regulatory and/or voluntary codes and with internal policies to minimize business risk and protect the reputation of the organisation.
• Maintain standards of integrity and professionalism as set out by the Actuarial
• Society of South Africa. Apply appropriate techniques in alignment with APN's.

Actuarial Modeling

• Undertake strategic and tactical financial analysis, modelling, and evaluation to support business leaders in their decision making.
• Oversee the development, maintenance and implementation actuarial models and processes. Models need to be fit for purpose and able to estimate the reality accurately. Models (and any form of estimation) to clearly documented with the scope of use, definitions, data, and assumptions made. Ensure that there are process documents in in place to ensure that the models can be understood by external stakeholders. Ensure processes are in place to reduce the risk of incorrect modelling and support new users.

Data Collection & Analysis

• Make authoritative recommendations that have a significant impact on the business over the short and long term. Recommendations could be technical or professional in nature.
• Oversee the data used for actuarial models. 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.

Performance Management

• Manage and report on the performance of a substantial, diverse team; set appropriate performance objectives for direct reports or project / account team members and hold them accountable for achieving these; take appropriate corrective action where necessary to ensure the achievement of team / personal objectives. Manage the development of pipelines and succession planning as well as performance scoring and management including team administration, setup of performance contracts and ensure the alignment of the performance management process to the business objectives.

General Education

• Bachelors / Honours degree in Actuarial Science or similar (Essential)
• Qualified or near qualified Actuarial qualification with Life Insurance technical subject (Essential)
• FASSA (Fellow of the Society of SA)
• Qualified actuary (Fellow of the actuarial) (society)
• Any relevant management qualification: Degree / Diploma or relevant
• Leadership Development Program (Advantageous)

EXPERIENCE

General Experience

• 6 or more years Actuarial work experience in financial services (Essential)
• 5 years’ experience in Life Insurance Valuations and Life Insurance Pricing (Essential)

Managerial Experience

• 6 years to 10 years' experience of planning, managing and organizing resources
• within short / medium timescales within the overall policy framework (Essential)