Job Description
The iWYZE Life business has an exciting opportunity for a suitably qualified individual for a Senior Actuarial Specialist. The successful individual will own the entire product design and management process.
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.
The role offers exposure to the full product cycle: from the initial idea generation, research and innovation, through to the implementation and launch stage; the ongoing maintenance, review and refinement stage.
The role provides an opportunity to collaborate and engage with stakeholders across Old Mutual, iWYZE, Retail Product Solutions and Valuations.
In this role, you are expected to:
- Own the entire product design, pricing and experience investigation process.
- Play a key role in the ideation and specification of new products that will meet the needs of our clients and suitable for the competitive landscape.
- Take ownership of the technical analysis required to aid new product development and enhancement of existing products
- Be the custodian and owner of the Radar Pricing Model and deploy pricing changes timeously and test the impact of different pricing scenarios on key metrics.
- Play a leading role in structuring appropriate remuneration structures for the suite of products that are offered by the business.
- Understand the regulatory environment and incorporate any changes to the relevant product rules.
- Monitoring product financial experience compare actual vs expected experience, reporting on product metrics and performance over time.
- Provide input and support to systems development team create development aids and assist with testing of delivered functionality.
- Process analysis and management manage and improve existing business processes.
- Be the contact person of all the relevant stakeholders keep then up to date, communicate results and obtain relevant approvals as and when applicable.
- Competitor research.
- Provide general product support.
- Making good progress towards qualifying as an Actuary
- In case of an exam lag, significant relevant experience will also be considered.
- At least 3 years relevant actuarial experience, preferably in Financial Services.
- A solid understanding of the South African Life Insurance industry is preferred.
- Experience in Life insurance product development/management area is preferred.
- Firm understanding of actuarial principles and calculations.
- Strong numerical, analytical, technical, written and presentation skills.
- Ability to perform complex analysis and modelling.
- Experience with Microsoft Office suite, with advanced Excel Skills. A strong background in any of the programming skills - VBA, R programming, Python and SQL will be advantageous.
- Excellent interpersonal and communication skills (both written and verbal). Ability to work in a team and with a wide variety of stakeholders.
- Motivated self-starter, who shows initiative, looks for ways to improve existing processes and can complete tasks within agreed timelines with minimal guidance.
- Strong sense of ownership and accountability. Willing to learn and grow.
- Comfortable with ambiguity. Quick learner with ability to plan and prioritise.
Skills
Education
Bachelors Degree (B): Actuarial Science (Required)
Closing Date
11 April 2023
Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.
All prospective employees are required to disclose their vaccination status as part of the recruitment process.
Please refer to the Old Mutuals Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.
