Product Actuary

Actuary

  • AvailabilityPermanent
  • Experience5+ Years
  • Share

Product Actuary

ActuaryGauteng

A leader in the Insurance space, in Johannesburg, is looking for a product actuary to provide technical input to an effective financial actuarial function, enabling them to launch products that create client value and meet clients needs within the risk appetite

  • Provide input to an effective actuarial function, which expresses an opinion on underwriting and reinsurance, develop stress tests, ensure internal controls are maintained, ensure appropriateness of methodologies used and ensure accuracy of calculations
  • Liaising with relevant stakeholders in the business and provide technical input into the financial and actuarial soundness with the aim of helping them to launch products that create client value, fit into the business model, meet client needs and are within the risk appetite
  • Model development for new products and integration into systems
  • Performing experience analyses to inform actuarial assumptions for pricing
  • Maintain and improve capital models
  • Overseeing the Life Valuation: data sourcing, experience investigation co-ordination, methodology and assumption setting for approval by the Head of Actuarial Function/ Statutory Actuary
  • Set and optimize the Life Group Reinsurance strategy
  • Provide management reports to business partners that assist in optimizing business strategies
  • Overseeing the approval of value adding financial reinsurance arrangements
  • Respond to all prudential developments and expectations i.e. quarterly and annual returns, prudential external audit. Develop innovative ideas to improve processes. Document prudential methodology and results
  • Ownership of reserving for Life. Continuous refinement of reserving model including migrating reserving models, responding to client queries, provide training to clients, and maintain relationships with the Statutory Actuary and internal and external auditors
  • Project management to ensure Life is ready for the implementation of IFRS 17. By working closely with finance to establish a common approach and ensuring the required data will be available through proactive engagement with business partners and clients
  • Provide technical support to the various business units. This includes: assisting with developing optimum reinsurance structures; training on life Insurance products and industry practice; practical implications of regulatory requirements on Life; Interpretation of regulatory requirements and providing training to clients on technical requirements

Requirements:

  • End to end product development
  • Experience working with products including life and investments
  • Qualified as an Actuary

 Qualifications:

BSc Mathematics or similar

 

 

Skills
  • Actuary
  • IFRS17
  • Product
  • Life
  • Life Valuation
Requirements
  • Education Tertiary Degree
  • Experience 5+ Years

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