Junior Actuarial Analyst

JOB PURPOSE

Provide support to senior analysts and managers within the General Insurance Actuarial team. Use statistical models to analyze data and calculate the probability of and costs associated with certain events.

Responsibilities

Data Collection & Analysis

Produce accurate reports for others by collecting data from a variety of standard sources and inputting it into standard formats. Extract and verify data used for actuarial models. Reconcile data/information against credible data sources (for example financials) to ensure the data is complete and accurate. Before data is used for analysis/ modelling, review and acquire signed-off from the Technical Manager.

Actuarial Modeling

Assist in developing actuarial models and processes. Models to be fit for purpose and able to estimate the reality accurately. Regularly monitor Models to ensure model performance.

Insights and Reporting

Extract and combine data to generate standard reports. Provide an ecosystem where data and data analysis is nimble and easy to access within the business. Ensure monitoring is accurate and complete and regularly validated against credible data sources. Review results on a regular basis and monitor against actuals across brands and distribution channels within the business.

Model Deployment and Testing

Develop the monitoring processes to measure the performance of the model/ pricing under the guidance of the technical manager.

Improvement / Innovation

Support others by implementing improvements and carrying out simple change management tasks. Ensure data processes are continuously maintained and kept up to date.

Operational Compliance

Develop knowledge and understanding of the organization's policies and procedures and of relevant regulatory codes and codes of conduct to ensure own work adheres to those standards. Obtain authorization from a supervisor or manager for any exceptions from mandatory procedure. Maintain standards of integrity and professionalism as set out by the Actuarial Society of South Africa.

Personal Capability Building

Develop and maintain excellent process or technical skills by participating in assessment and development planning activities as well as formal and informal training and coaching.

General Education

Bachelors in actuarial science

Honours degree in Actuarial Science or similar (Essential)

Making good progression toward Actuarial qualification (Essential)

Experience

General Experience

Actuarial Graduate from university

2 years' work experience outside of the Short-Term Insurance environment (Essential)

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