Actuarial Specialist - Cape Town, South Africa - Moving Heads Personnel

Moving Heads Personnel

Verified Company

Cape Town, South Africa

1 week ago

Posted by:

Thabo Mthembu

beBee Recruiter

Description

Actuarial Specialist

Cape Town, Gauteng and Overseas
To assist with actuarial
product management tasks as an Actuarial Specialist in the Product Management team in Cape Town.

The product management of by adequately balancing the objectives of the different stakeholders.
Profitability management of existing products.
Implementation of changes to align with legislation.
Identify system errors, propose the most appropriate way to fix these and ensure the successful implementation.
Ensure that clients are treated fairly through product design, communication and advice, and address any areas on the inforce book where improvement in this respect is required.
Extraction of maximum value on products through reinsurance optimisation and other initiatives.
Play a role in the consolidation of products which will involve the following:
Rationalisation of the existing product range and providing the necessary specifications.
Planning and implementation of the migration of business from one system platform to another.
Analyse system data, specification and create output files and reports as required by the business in respect of the consolidation and migration of the product ranges.

- (Co-)create the appropriate product enhancements/changes to be made together with other product specialists and segment managers:

Documenting and reviewing all existing product bases.
Propose the appropriate enhancements/changes to existing products and benefits.
Monitor the experience of important actuarial basis items (e.g. mortality, lapses, etc.) and propose and/or implement rectifying actions where appropriate.
Positively influence and participate in change initiatives.
Continuously develop own expertise in terms of professional, industry and legislative knowledge in order to propose the most relevant and innovative client solutions and comply with governance requirements.
Contribute to continuous innovation through the development, sharing and implementation of new ideas.
Providing the business requirements and supporting the implementation of:
Improving client value through the levers that drive it.
Legal and compliance requirements.
Product, process and data improvements.
Produce special quotations for new and existing products.
Test the implementation of system product changes.
Matric / Grade 1
Actuarial Degree or Bdegree with Mathematics or Statistics as majors.
2 to 3 years of work experience and experience in product management, product development and/or product pricing in the individual life insurance industry would be an advantage.
Knowledge of insurance products, contracts and relevant industry legislation and agreements.
Skills / Experience in data management and extraction would be an advantage.31.1mm