Actuarial Analyst: Product

Capitec Bank Ltd.; Stellenbosch; On-site; ZAR 550,000 - 750,000; Full time

Job summary

Capitec Bank is seeking an Actuarial Specialist to provide technical support for actuarial functions. The role includes enhancing existing products and designing new insurance offerings, requiring strong analytical skills and a Bachelor's degree in Actuarial Science. Ideal candidates will have significant experience in the insurance sector and proficiency in SQL.

Qualifications

• Minimum 3 years of actuarial experience in a technical role.
• Strong SQL proficiency for data management.
• Understanding of regulatory and legal requirements related to insurance.

Responsibilities

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

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

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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:

1.To see what life at Capitec is all about and complete a short assessment, pleaseclick here!

2. Once you have completed the above finalize your application by clicking apply below

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

• 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.

Capitec Bank is an authorised financial services provider (FSP 46669) and registered credit provider (NCRCP13). Capitec Bank Limited Reg. No: 1980/003695/06