Actuarial Analyst: Product

Capitec; Stellenbosch; On-site; ZAR 600,000 - 1,000,000; Full time

Job summary

A leading financial services provider is seeking a Technical Actuary to enhance existing products and design new ones. This role offers the opportunity to engage with core actuarial functions, applying your analytical skills to provide insights and improve business processes. If you are passionate about insurance and possess strong SQL skills, join us on this exciting journey.

Qualifications

• 3+ years of actuarial experience in a technical role.
• Strong SQL proficiency for data management.
• General knowledge of actuarial principles and life insurance.

Responsibilities

• Deliver technical actuarial support for product enhancement.
• Develop and maintain actuarial models for product development.
• Conduct reporting for optimization of the insurance book.

Skills

Analytical Skills

Attention to Detail

Numerical Reasoning skills

Planning, organising and coordination skills

Reporting Skills

Education

Bachelor's Degree in Actuarial Science or Mathematics

Job description

Apply By:

We're on the lookout for energetic, self-motivated individuals who share our passion for service in the banking industry. To be part of the journey, follow the steps below:

• To see what life at Capitec is all about and complete a short assessment, please click here!
• Once you have completed the above finalize your application by clicking apply below
  
  

Purpose Statement

Deliver technical actuarial support on all elements of the actuarial product function for Capitec Life, to enable the enhancement of existing products, design of new insurance products and creation of value-added services.

To provide business improvement insights and suggestions by defining client segment opportunities and working with the pricing team to understand profitable segments. To conduct reporting for the purposes of ongoing optimisation of the insurance book.

Develop and maintain actuarial models used for product development.

Education (Minimum)

• Bachelor's Degree in Actuarial Science or Mathematics
  
  

Knowledge and Experience

Minimum:

Knowledge

• Strong SQL proficiency for accessing and managing data.
• General knowledge in actuarial principles, standards, tools, systems, models and methodologies.
• General knowledge of the life and/or short-term insurance industry and landscape.
• Knowledge and understanding of regulatory and legal requirements related to insurance.
  
  

Ideal:

Knowledge

• Solid understanding of insurance data, policyholder behaviour, and product design principles.
• Relevant knowledge of valuations/reporting and/or capital management
• Business case conceptualisation, principles and compilation
• Knowledge of insurance industry dynamics, competitors and products
• Familiarity with IFRS 17
  
  

Experience

• Minimum 3 years of actuarial experience within a technical actuarial role.
• Experience of life insurance product design, segmentation, marketing and client experience.
• Proven experience in analysing and manipulating data to identify trends and/or opportunities
• Stakeholder relationship management.
  
  

Ideal:

• Experience of a high-performance environment, working to tight deadlines and under pressure.
• Experience in life insurance pricing, profit testing, analysing impacts and communicating with a range of stakeholders.
• Experience with IFRS17 and reporting software.
• Experience in building statistical or predictive models (GLMs, regression, machine learning, etc.).
• Experience in working with data visualisation technologies (Power BI, etc.).
  
  

Skills

• Analytical Skills
• Attention to Detail
• Numerical Reasoning skills
• Planning, organising and coordination skills
• Reporting Skills
  
  

Additionally, We Would Like You To Have

• Strong SQL coding proficiency
• Statistical model development (GLM, regression)
• Excellent attention to detail and critical thinking
• Conceptual thinking and communication of complex topics to non-technical audience
  
  

Key Performance Areas

• Product Development
• Experience Analysis
• Client Insights
• Competitor Analyisis
• Ad-Hock Valuation and Pricing
• Stakeholder Engagement
  
  

Additional Information

• Clear criminal and credit record
  
  

Capitec is committed to diversity and, where feasible, all appointments will support the achievement of our employment equity goals.