Senior Actuarial Analyst

Dainfern

Company
Telesure Investment Holdings
Reference #
SAA- 2021
Published
11/05/2021
Contract Type
Permanent
Salary
Market Related
Location
Dainfern, Gauteng, South Africa

Introduction
ABOUT THE COMPANY Telesure Investment Holdings (Pty) Ltd (TIH), is the holding company of some of
South Africa’s leading financial long and short term insurance providers. Our
portfolio includes South Africa’s most loved and recognisable brands such as 1st
for Women, Auto & General, Budget, Dialdirect, Virseker and 1Life. Employee
Benefits Administration via our Hippo Advisory Services, which includes health
insurance, provident fund and group life administration. Hippo is South Africa’s
first comparison website and compares insurance, other personal finance
products, travel, health, money, travel, cars from a range of South African
brands. We’re pioneers with a hunger for the best, bringing customer-focused
innovation and service excellence to the financial services industry. We’re an
undivided team of diverse thinkers and doers who believe in leading through
technology and pushing beyond limits.

JOB PURPOSE Provide actuarial technical support and coach/mentor junior analysts within the
STI Actuarial team. Use Actuarial techniques to solve business related problems and to help with strategic decision making.

Job Functions
Analysis,Analytics,Data Analysis,Data Management

Industries
Insurance

Specification
Business Requirements Identification
Analyse business requirements and to use actuarial techniques to come up with a solution given complexities in implementation. Business requirements need to be clearly documented within the scope of use, definitions and assumptions made. Develop solutions that address business
requirements and objectives. Refine solutions over time as more information
becomes available.

Stakeholder Engagement
Collaborate with internal (Actuarial) and external (Business) stakeholders.
Keep stakeholders informed and up to date with project/analysis delivery and
provide clear and concise feedback to stakeholders. Maintain measurable service levels on business requests and provide feedback that speaks to the business issue observed. Be on time and prepared for meetings with Business.
Data Collection & Analysis
Use data from a wide range of sources to analyse key themes and identify
possible impacts on the business. Extract and verify data used. Data/information to be reconciled against credible data sources (for example financials) to ensure the data is complete and accurate. Ensure definitions and assumptions are aligned to the problem statement. Before data is used for analysis/modelling, review and acquire the required signed-off from the Technical Manager.

Actuarial Modelling
Develop, maintain and implement actuarial models and processes for relevant Business problems. Models to be fit for purpose and able to estimate the response accurately.
Models (and any form of estimation) to be clearly documented with the scope of use, definitions, data, and assumptions made. Regularly monitor models to ensure model performance and that they are
communicated back to the business. Before Models are used for estimation within the Business, the Senior Actuarial Analyst should review and acquire sign-off.

Model deployment and testing
Effective impact and sensitivity analysis to be performed before any deployment
is done. Translate results from the impact/sensitivity analysis to Business, to provide
insight and what various pricing changes will mean to profitability and policy
growth within all brands and distribution channels. Maintain and develop documentation on model/pricing and clearly state what needs to be deployed and how testing will be done to ensure the deployment is successful. Ensure monitoring process are in place to measure the performance of the
model/pricing.

Insights and Reporting
Translate the monitoring results so they can be understood by Business. Provide an ecosystem where data and data analysis is nimble and easy to access by any team member. Provide insights from monitoring to inform the Business of future modelling endeavours. Ensure monitoring is accurate and complete and regularly validated against credible data sources. Review of results on a regular basis and ready to be presented to the Actuarial Management level.

Improvement / Innovation
Review existing operations in own area of work and implement innovation processes to generate new ideas and ensure continuous improvements are delivered. Stay up to date with Business developments and develop solutions proactively within Business. Ensure data processes are continuously maintained and kept up to date. Continuous development/research of modelling techniques and feature engineering to improve model estimates.

Leadership and Direction
Explain the local action plan to support team members in their understanding of what needs to be done and how this relates to the broader business plan and the organization’s strategy, mission and vision; motivate people to achieve local business goals.

Performance Management
Respond to personal objectives and use performance management systems to improve personal performance. OR Monitor the performance of the team; allocate work and review completion, take appropriate corrective action to ensure timeliness and quality; contribute to formal individual performance management and appraisal. Manage the development of pipelines and succession planning as well as performance scoring and management. This includes the setup of performance
contracts and personal development.

Operational Compliance
Identify, within the team, instances of non-compliance with the organization/ actuarial policies and procedures and/or relevant regulatory codes and codes of conduct, reporting these and escalating issues appropriately. Maintain standards of integrity and professionalism as set out by the Actuarial
Society of South Africa.

Building Capability
Mentor and coach staff on a technical and professional front. Mentor and coach staff to develop data analysis, aggregation and cleaning skills and how to develop models and the review thereof.

Requirements
General Education
Bachelors / Honours degree in Actuarial Science or similar (Essential);
Qualified or making good progression toward Actuarial qualification (Essential)

General Experience
2 or more years actuarial experience within a Short-Term insurance environment (Essential)

Managerial Experience
1 or more years’ experience in general supervision of more junior colleagues (Essential)

ADDITIONAL INFORMATION

SAQA Accredited Equivalent – It is the onus of the applicant to provide TIH and
its subsidiaries with certified evidence that their qualification(s) meet the
equivalent NQF level required for this role at time of application. As a registered
Financial Service Provider, we are mandated to ensure that all our
representatives are and remain fit and proper at all times. By applying for this
role, you consent to having your relevant qualification and or accreditation or
confirm that you are working towards meeting the competency requirements.
You further consent to the relevant information being verified.

Job Closing Date
25/05/2021