Actuarial Product Specialist - Cape Town, South Africa - Affirmative Portfolios

Affirmative Portfolios

Verified Company

Cape Town, South Africa

1 week ago

Posted by:

Thabo Mthembu

beBee Recruiter

Description

Insurance

Cape Town
***:
ACTUARIAL PRODUCT SPECIALIST - AFRICA (Cape Town)

INTRODUCTION

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

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, annuities 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 WORK YOU NEED TO DELIVER

Contributing to the delivery of innovative, valueformoney 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 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;