Senior Manager at Standard Bank Group

• Manage, develop & motivate the actuarial pricing team.
• Development, improvement and implementation of the technical rating structures for personal lines and commercial products.
• Development, improvement and implementation of the price optimisation strategies regarding new business, renewal and retention for personal lines and commercial products.
• Align product pricing strategy to company’s profitability and growth targets.
• Provide technical actuarial support to Underwriting and Business Development.
• Project future performance for budgeting process.
• Build and Manage relationships with key stakeholders in the value chain; IT, Sales, Claims, Risk Management & Finance Departments.
• Ensure compliance with Statutory Regulations eg. Treating Customers Fairly and maintain the highest levels of professionalism.
• Propose and drive projects that will enhance pricing ability eg. Telematics

• Management and Maintenance of Pricing Models: Motor, Building, Contents, All Risk, Accident and health and Commercial
• Manage the annual pricing models rate reviewing process.
• Ensure accuracy while balancing business needs in terms of speed and usability of the pricing models.
• Ensure constant development of pricing basis, considering new rating factors and pricing techniques.
• Monitor risk and expense experience through the development of a pricing risk monitoring framework.
• Alignment of pricing basis to business strategic risk and financial performance targets.
• Influence the organisation’s annual financial budgeting process through provision of claims, premiums rates and persistency experience.
• Monitor and manage the rating engine; incorporating the management of stakeholders and ensure knowledge is shared amongst the team.
• Research new products and/or rating technology and methodology.
• Manage the prioritization of limited spend and resources.
• Assist with systems development, ensuring actuarial requirements are an input to future systems developments and enhancements.
• Reporting of performance to the relevant structures within the company.
• Maintain & improve the desired competiveness of products underwritten by SIL.
• Carry out regular competitor analysis exercises, to optimise pricing models
• Build and maintain a price monitoring framework, to allow agile rate changes between rate review periods.
• Distribution channel management: Monitor the appropriateness and alignment of existing distribution channels to the company’s business strategy, and investigate new channels to sell products; to grow market share and competitiveness.
• Contribute to the procurement of claims management services; provide stats and analysis where necessary.
• Maintain appropriate level of technical expertise and knowledge of legislation, regulation, products, procedures, services and systems.
• Provide analytical support in the optimisation of the sales, servicing and claims processes within SBIS

Preffered Requirements :

• Minimum BSc or BCom Honors Degree with Actuarial majors
• A Qualified Actuary would be a strong advantage 
• At least 8 Actuarial exemptions/exam passes through ASSA, ST3 preferable.
• At least 5 years’ short term pricing experience
• At least 5 years short term Insurance experience 
• Technical pricing knowledge - building and maintaining GLM model, experience working with Emblem and Radar preferable.
• Understanding and knowledge of insurance business principles.
• At least 3 years management experience, managing junior members of the team.
• Experience managing relationships with senior / executive members of the company
• Computer literacy (Microsoft Office), SAS (statistical package, preferred, Emblem/Pretium (preferred)