Senior Actuarial Analyst - Johannesburg, South Africa - Nedbank

Nedbank

Verified Company

Johannesburg, South Africa

1 week ago

Posted by:

Thabo Mthembu

beBee Recruiter

Description

Job Classification
-

REQ:

Refilwe Falatsi:
-

Closing Date: 15 May 2024:
-
Division: Nedbank Insurance | CSA:

-

Employment Equity Statement:
Preference will be given to individuals from underrepresented groups.

Job Family
Risk, Audit & Compliance
Career Stream
Actuarial
Leadership Pipeline
Manage Self Technical
FAIS Affected
Job Purpose
To take responsibility and manage the performance of new business written by Nedbank Insurance under its MyCover Personal Lines product. To assist with new product concepts that will be developed in collaboration with Distribution, Client Experience and Underwriting teams.

Responsibilities:

Develop and implement new business pricing models for all sections of our personal lines business using the Willis Towers Watson suite of software.
Monitor and review claims experience within the portfolio to ensure business profitability targets to met.
Monitor and review lapse experience within the portfolio to ensure better persistency.
Help produce monthly reporting packs for DIVCO and INEXCO based on automated dashboards that provide detail for a helicopter view of product KPIs.
Assist with producing quarterly reporting packs for the Actuarial Control Committee (ACC) and Client Centricity Committee (CCC).
Assist with compiling product reviews / deep dives on concerns that may be highlighted by the product dashboards and presented to the ACC.
Engage with Distribution, Client Experience, Underwriting and reinsurers in the new development and pricing of new products and product enhancements.
Engage with Distribution, Client Experience and Operations to streamline processes and ensure all areas are working effectively in maximising the client value while ensuring product profitability to make the portfolio commercially viable.
Engage with the system developers to ensure any system changes and additions identified are implemented.
Review and update product registers, pricing policies, underwriting manual, policy documentation, market material and other product collateral as required by regulation or business from time to time.
Assist with market research and data analytics as required.

People Specification

Essential Qualifications
NQF Level
Advanced Diplomas/National 1st Degrees

Preferred Qualification

Bachelor of Commerce or Bachelor of Science in Actuarial Science with good progress towards qualifying as an Actuary (at least 8 exams).
Minimum Experience Level
A minimum of 3 years' Actuarial experience in product development and pricing in the Non-Life Insurance personal lines industry.
Preferred Skills:
Analytical problem solving