Actuarial Analyst.

Closing Date 2023/05/19

Reference Number HOL230512-1

Job Title Actuarial Analyst

Business Unit Hollard Life Solutions

Department Product

Job Family Actuarial

Job Type Classification Permanent

Reporting To Head: Product and Business Enablement

Number of Positions 1

Location - Town / City Johannesburg

Location - Province Gauteng

Location - Country South Africa

Job Advert Summary

The Primary Purposes Of This Role Are To

Assist with the design, development, pricing and maintenance of the Hollard Life Solutions (HLS) insurance products (life, risk and simple short-term products).

Support the actuarial administration and management of the in-force suite of products.

Monitor the ongoing product profitability and to assist with the management thereof within Hollards risk appetite.

Conduct and assist with experience investigations, including the required data-related work.

Collaborate with other team members in a professional manner in order to deliver on Hollards shared vision.

Key Responsibilities

Define benefit and technical specifications for new product developments and enhancements to existing products.Resolve technical queries on premiums, benefits and values and assist with product and benefit complaints appropriately.

Technical pricing (assumption setting, premium calculation, pricing review and financial business projections) of new and existing products and benefits.

Draft and/or review policy documents, policy terms and conditions, product marketing and customer communication, and ensuring that these are compliant to Governance standards within Hollard.

Ensure alignment of new and existing products to legislation, industry guidelines or codes.

Testing premiums and benefits to ensure products are implemented in line with specifications.

Monitor ongoing performance of products and assess whether product development objectives are being met.

Ad-hoc projects and investigations.

Monitor the competitive positioning of products and benefits relative to the market by features, simplicity, price and ease of business.

Identify potential risks associated with benefits and customer segments as well as opportunities to mitigate or avoid.

Develop product and benefit training material as required.

Conceptualise new products and product enhancements.

Provide product support to other internal departments such Operations and Distribution.

Provide technical benefit support on public relations articles.

Engage with other stakeholders in the business.

Required Knowledge And Experience

0 to 3 years of experience in financial services. Exposure to life insurance is beneficial.

Knowledge of VBA is beneficial.

Knowledge of SQL is beneficial.

High attention to detail

High degree of accuracy

Technically strong

Ability to work on multiple tasks simultaneously

Ability / desire to challenge the status quo

Sound relationship building skills

Passion for products, pricing and people

Broad Life Insurance knowledge

Broad understanding of insurance distribution methods and administration systems

Commercial mindset and interest in the role of life insurance within society

Ability to plan, prioritise and work towards deadlines

Ability to communicate clearly to colleagues and management both verbally and in writing with the ability to tailor complex communication depending on the audience

Self-starter / initiator

Critical thinking and sound questioning of concepts or ideas

Analytical skills and attention to detail, balanced with strategic vision, a strongly developed creative side and big-picture thinking ability

Educational Requirements

3-year degree in actuarial science.

Making good progress with the Technical subjects of a professional actuarial qualification.