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Job Description

The incumbent will be responsible for maintaining GAP’s excellence in pricing of large group schemes, assisting with experience investigations, demographic risk modelling, analytics projects, tool automation as well as ensuring the smooth continuation of day-to-day operations.

Key Result Areas

The incumbent will be expected to interact with clients, intermediaries and internal stakeholders at all levels.  Core responsibilities of the role will include:

Assisting the pricing of large and complex group risk arrangements, ensuring the retention of profitable business and that new business is written on a competitive but also financially sound basis

Assisting in the preparation and execution of experience investigations and demographic risk modelling

Assist the business in improving and developing new analytics engines

Assisting the development and maintenance of innovative pricing tools with a focus on improving accuracy, efficiency and facilitating actuarial judgement through analytics

Automation of models to enhance efficiency

Ensure compliance with model risk policy as part of the risk management framework

Assisting the development and maintenance of appropriate IT infrastructure to support group risk pricing

Ensuring business processes continue to operate efficiently

Qualifications and Experience required

Actuarial student making good progress with actuarial exams (exceptional candidates who don’t meet this requirement may be considered)

Exposure to group risk products or group risk pricing roles would be an advantage

Experience in the life insurance or similar industry would be an advantage

Strong analytical and problem solving skills

Intermediate VBA and excel skills

R/Python knowledge would be an advantage

Strong business acumen

Ability to complete tasks and projects within agreed timelines with limited guidance

Good communication skills and have the ability to work across teams and to interact and collaborate effectively with various stakeholders

Ability to think different in developing client-centric solutions

A minimum of 7 Actuarial exams are needed for this role.

Please note that the appointments may be made at a lower role size depending on the successful candidates’ experience and exam progress.

Performs assignments of a variety actuarial-related tasks, e.g., compilation and analysis of losses and reserves. Develops and enhances procedures including review for actuarial soundness. Analyzes completed work for reasonableness and accuracy, and may recommend specific courses of action. OML roles mapped to this profile are: Intermediate Actuarial Specialist, Intermediate Actuarial Specialist (OMAO), Intermediate Actuarial Specialist New Entrant and Specialist: Actuarial Underwriting.

ResponsibilitiesActuarial Analysis, Assumptions and Insights

Analyze and present data using pre-set tools, methods, and formats, testing completed work for reasonableness and accuracy to contribute to the production of actuarial analyses, assumption setting and insights. Produce accurate reports for others by requesting data from a variety of standard sources and inputting that data into standard formats.

Actuarial Financial Reporting

Carry out complex actuarial analyses to contribute to the production of statutory and non-statutory financial reports and other disclosures.

Actuarial Model Creation and Maintenance

Contribute to the development and maintenance of actuarial models through analysis to identify and validate the structure of underlying actuarial assumptions.

Actuarial Product Development & Management

Carry out complex analyses of own organization and competitor products to support the identification of opportunities for creating competitive advantage in existing or new products and ensuring their continuous management.

Organizational Risk Management

Keep track of risk, financial management and control parameters, identifying any more deviations and reporting them to more senior colleagues. Involves working within established risk management systems.

Actuarial Calculation of Funding Requirement

Carry out complex analyses of funding contributions, like employee benefit programs, to support the evaluation of scheme funding requirements.

Compliance

Identify, within the team, instances of non-compliance with the organization's policies and procedures and/or relevant regulatory codes and codes of conduct, reporting these and escalating issues as appropriate.

Improvement/Innovation

Implement improvements and provide feedback on them. Use change management systems and protocols to provide routine support services.

Skills

Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Numerical Aptitude, Risk Management

Competencies

Action OrientedBalances StakeholdersBuilds NetworksBusiness InsightCollaboratesCommunicates EffectivelyCultivates InnovationDecision Quality

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

29 June 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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