Introduction
Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations. We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilising new platforms Momentum Group provides practical financial solutions for people, communities and businesses. Visit us at www.momentumgroupltd.co.za
Disclaimer
As an applicant, please verify the legitimacy of this job advert on our company career page.
Role Purpose
To support the pricing and reinsurance functions within FundsAtWork and Group Insurance through actuarial modelling, experience analysis, pricing tool development and reinsurance calculations. The role will contribute to the pricing of new and existing products and the delivery of accurate actuarial insights to support business decision-making.
Requirements
Experience and Qualifications
- Actuarial student with a major in Actuarial Science and/or Statistics
- Passed/exempted from all A1 and A2 series examinations and the A3 level subject.
- Minimum of 3 years' relevant actuarial experience, preferably within life insurance or employee benefits.
- Experience in pricing, product development or reinsurance will be advantageous.
- Proficiency in R, VBA and SQL.
- Experience developing and maintaining actuarial models and pricing tools.
- Knowledge of life insurance, employee benefits, pricing methodologies and reinsurance principles.
Duties & Responsibilities
Internal Process
- Develop, maintain and enhance actuarial pricing models, methodologies and pricing tools used for quotations, rate reviews and product pricing.
- Perform actuarial analyses and calculations relating to mortality, morbidity, expenses, investment fees and other pricing assumptions.
- Analyse data and other sources of information to generate insights and support business decision-making.
- Assist with the development and application of statistical modelling techniques, including machine learning methodologies where appropriate.
- Conduct competitor and market analyses to support product and pricing strategy.
- Support the management of actuarial and product-related risks through appropriate modelling, monitoring and reporting.
- Compile and present actuarial reports, findings and recommendations to internal stakeholders.
- Provide technical actuarial support to pricing, rate review, finance and other business teams.
- Ensure compliance with relevant actuarial, legislative, regulatory and statutory requirements.
- Perform reinsurance premium calculations and related actuarial analyses.
- Support the review and management of facultative and automatic treaty reinsurance arrangements.
- Analyse and assess reinsurance recoveries and related reporting requirements.
- Provide actuarial input into reinsurance strategy, pricing and risk management activities.
- Build and maintain effective relationships with internal and external stakeholders.
- Deliver actuarial services and outputs in line with agreed service levels and business requirements.
- Provide actuarial expertise, advice and insights to support stakeholder decision-making.
- Contribute to initiatives aimed at improving client outcomes, operational efficiency and service delivery.
- Collaborate effectively with team members and contribute to a positive and high-performance team culture.
- Continuously develop actuarial, industry and regulatory knowledge.
- Contribute to innovation through the development and implementation of new ideas, models and processes.
- Manage deliverables effectively and produce high-quality outputs within required timeframes.
- Take ownership of personal development and actuarial exam progression.
Competencies
- Analytical Thinking and Problem Solving
- Attention to Detail
- Stakeholder and Relationship Management
- Delivering Results Under Pressure
- Continuous Learning and Innovation