Junior Actuarial Manager - Sandton - The Recruitment Council

    The Recruitment Council
    The Recruitment Council Sandton

    5 days ago

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    Description

    Job Title: Actuarial Analyst

    This role plays a critical part in achieving the business objectives set by senior management.

    Key Responsibilities:

    • Business Requirements Identification:
      • Conduct in-depth analysis to extract complex business requirements using interviews, workshops, and documentation reviews.
      • Manage pricing development, deployment, and performance monitoring for all brands and products.
      • Clearly document business needs, root causes, assumptions, and goals to ensure alignment with business objectives.
      • Provide solutions that evolve as more information becomes available, ensuring continuous improvement.
    • Stakeholder Engagement:
      • Build and maintain relationships with internal (actuarial) and external (business) stakeholders.
      • Keep stakeholders informed of project progress, ensuring clear and actionable feedback is provided.
      • Ensure consistent and timely communication with the business.
    • Actuarial Modelling:
      • Translate business goals into defined actuarial models, supporting growth initiatives.
      • Develop, maintain, and implement actuarial models that are precise and fit for purpose.
      • Continuously monitor model performance and provide feedback to the business.
      • Ensure that data and assumptions are clearly documented.
    • Data Collection & Analysis:
      • Analyse data from multiple sources to identify trends and inform business decisions.
      • Verify data accuracy and ensure consistency with credible financial data before use.
      • Collaborate with the Senior Manager to review and sign-off data used for actuarial models.
    • Model Deployment & Testing:
      • Manage systems changes, ensuring timely delivery of solutions and compliance with quality standards.
      • Perform impact and sensitivity analyses to predict the effect of pricing changes on profitability and policy growth.
      • Document and monitor deployed models to ensure effectiveness and accuracy.
    • Insights & Reporting:
      • Lead the design and creation of reports that identify trends, patterns, and actionable insights.
      • Present and communicate data-driven insights to key stakeholders in a clear, impactful manner.
      • Translate monitoring results into actionable recommendations for future modeling efforts.
    • Leadership & Team Management:
      • Communicate business objectives, strategy, and values to the team to inspire commitment and extraordinary results.
      • Manage performance, set clear objectives, and hold team members accountable for their contributions.
      • Develop pipelines for succession planning and provide coaching for professional growth.
    • Continuous Improvement & Innovation:
      • Identify areas for improvement in existing processes, collaborating with senior colleagues to implement new ideas.
      • Stay informed on business developments and modeling techniques, ensuring that the team remains proactive in their approach.
      • Ensure data processes are current and well-maintained.
    • Operational Compliance:
      • Ensure compliance with regulatory codes and the standards set by the Actuarial Society of South Africa.
      • Monitor team performance to identify and resolve compliance issues.
    • Mentorship & Capability Building:
      • Mentor and coach team members, helping them develop technical skills in data analysis and modeling.
      • Support the growth of analytical, aggregation, and modeling expertise within the team.

      Behavioral Competencies:

      • Action Oriented: Takes on challenges with urgency and enthusiasm.
      • Manages Complexity: Simplifies complex problems by focusing on key elements.
      • Manages Ambiguity: Remains effective in uncertain or unclear situations.
      • Resilience: Recovers from setbacks while maintaining a positive outlook.
      • Business Insight: Applies deep business knowledge to advance organizational goals.
      • Accountability: Holds self and others accountable for meeting commitments.
      • Effective Communication: Tailors communication to various audiences, ensuring clarity.
      • Collaboration: Builds partnerships and encourages teamwork to achieve common objectives.
      • Directing Work: Provides direction and removes obstacles to ensure timely delivery.
      • Financial Acumen: Applies financial insights to make informed business decisions.
      • Optimizing Work Processes: Continuously improves processes for better outcomes.
      • Developing Talent: Supports the development of team members to achieve their career and organizational goals.
      • Persuasion: Uses compelling arguments to secure support and commitment.

      Skills:

      • Proficient in actuarial/statistical software and advanced Microsoft Office skills.
      • Expertise in financial and economic modeling.
      • Strong numerical and analytical capabilities.
      • Excellent written and verbal communication skills.
      • Strong presentation and reporting abilities.
      • Ability to manage data collection, analysis, and mining processes effectively.

      Qualifications:

      • Bachelors/Honours degree in Actuarial Science or equivalent.
      • Progressing toward or completed Actuarial qualification.

      Experience:

      • Minimum of 4 years experience in actuarial work within a short-term insurance environment.
      • 1-3 years experience managing resources and delivering on objectives.


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