Senior Actuarial Specialist - Income Solutions
Momentum Metropolitan
- Cape Town, Western Cape
- Permanent
- Full-time
Reference Number MMH230112-16
Job Title Senior Actuarial Specialist - Income Solutions
Position Type Permanent
Role Family Actuarial
Cluster Metropolitan Life
Remote Opportunity Some of the time
Location - Country South Africa
Location - Province Western Cape
Location - Town / City Cape Town
IntroductionMetropolitan is one of the oldest financial services brands in South Africa. With a 126-year legacy of serving the communities in which it operates, Metropolitan represents true empowerment in serving Africa's people through affordable financial solutions that create financial growth and security.Metropolitan operates in South Africa, but the brand is also present in 12 African countries including, Namibia, Botswana, Kenya, Ghana, Nigeria, Lesotho, and Swaziland. Metropolitan provides financial wellness solutions that meet the needs of low income clients, including funeral insurance, health, savings, hospital cash-back cover, retirement solutions and life insurance.Visit us at:
Role PurposePerform actuarial product development and management tasks as a member of the Investment and Saving Solutions product management team, and so doing address specific client needs to enhance and support our client value proposition across target segments. This extends to all aspects of client experience across the various sales and service channels that clients engage with.The focus will be the various income solutions e.g., life, capital preservation and living annuities offered by Metropolitan.People in this role work as part of the solution design team.The Investment and Saving Solutions team is responsible for, but not limited to, the following solutions: endowments, tax-free savings plans, money market and management solutions, retirement annuities, preservation fund plans and retirement income solutions (i.e., life and living annuities).
Requirements
- Nearly qualified Actuary (ASSA/IFoA)
- At least 4 years’ actuarial work experience
- Product development experience preferred
- Experience working with income solutions will be an advantage
- Knowledge on statistical analysis techniques
- Proficient in MS Office Packages (MS Outlook, MS Word, MS PowerPoint, MS Excel)
- Naturally inquisitive mind-set, with a strong innovation abilities
- Team player and ability to work with a diverse group of people
- Be willing to demonstrate ethical leadership in challenging circumstances
- Perform experience investigations, modelling and data analysis using specialised software, to support the actuarial team to develop new investment and saving solutions and monitor experience on existing investment and saving solutions.
- Analyse product related data from various sources to assess completeness and accuracy, identifying potential errors and irregularities, to ensure accuracy of client and product insights and analysis.
- Develop and maintain pricing models and basis. Prepare product health reports and present insights derived from analyses, to support decision-making and inform appropriate actions through various options and scenarios.
- Source and analyse competitor investment and saving products and pricing models to provide insight into product and pricing models for investment and saving solutions.
- Provide technical actuarial support to the Investment and Saving Solutions team and claims areas to support various initiatives.
- Build and maintain relationships with various internal and external stakeholders, such as IT, distribution, legal, service, claims, asset management and valuations.
- Make recommendations to improve client service and fair treatment of clients on investment and saving solutions.
- Collaborate on client journey and solution design through client insights gathering and the analysis thereof.
- Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.
- Conduct relevant research to inform pricing and design assumptions, projections and advice provided to the business, and to develop own expert opinion.
- Collaborate with teams to identify trends, opportunities, threats, and environmental influences which impact on target segments.
- Develop and maintain productive and collaborative working relationships with peers, clients and stakeholders.
- Encourage innovation, change agility and collaboration within the team.
- Continuously develop own expertise in terms of professional, industry and legislation knowledge.
- Contribute to continuous innovation in investment and saving solution design and processes through the development, sharing and implementation of new ideas.
- Take ownership for driving career development.
- Effectively manage time and ensure optimal productivity.
- Ensure technical product and legislative, regulatory and compliance knowledge are always current to propose the most relevant and innovative client solutions and comply with governance requirements.
- Be self-confident, self-motivated and relentlessly pursue targets and goals.
- Identify solutions to enhance cost effectiveness and increase operational efficiency of investment and saving solutions.
- Provide input into the risk identification processes and communicate recommendations in the appropriate forum.
- Passion to make a difference in the lives of people in the low to middle income markets
- Extracting insights from data analysis
- Have an ability to work accurately and with an attention to detail
- Be versatile and open to learning opportunities
- Be willing to share learnings and experience with peers
- Strong written and verbal communication skills