Actuarial Specialist: Protection Product & Pricing

Old Mutual Life Assurance Company (SA) Ltd; Johannesburg; On-site; ZAR 900,000 - 1,300,000; Full time

Job summary

Old Mutual Life Assurance Company (SA) Ltd is seeking an actuarial professional for the Retail Mass Market Product and Pricing team in South Africa. The role involves developing and pricing protection products, performing experience analyses and supporting pricing testing across policy systems.

The position reports to the Senior Actuarial Supervisor and requires strong data skills, Excel proficiency and experience with actuarial modelling tools.

Qualifications

• Actuarial student with a minimum of 9 exam credits, with at least 3 years actuarial experience within life insurance, protection products or a related actuarial function.
• Experience in product development, pricing and/or experience investigations.
• Understanding of life insurance products and profitability drivers.
• IFRS 17 knowledge will be advantageous.
• Please note: the appointment may be made at a lower role size depending on the successful candidates’ experience and exam progress.

Responsibilities

• Deliver on product development and pricing, including product specifications, pricing reviews and experience investigations.
• Product rules and pricing testing, which includes regression, new business, servicing and claims.
• Production support for where there is missing functionality across the various policy administration systems.
• Developing requirements for system changes.
• Contribute to strategic projects and business initiatives across the Protection Product team.
• Collaborate with a wide range of stakeholders.
• Maintain actuarial models, assumptions, documentation and reporting processes.
• Identify opportunities to improve processes, controls and automation.
• Management of product and pricing mailbox queries.

Skills

Analytical and problem-solving skills

Advanced Excel

Prophet or similar actuarial modelling

SQL or Python experience

Data analysis and reporting

Education

Bachelor of Science (BSc): Actuarial Science

Job description

Old Mutual Life Assurance Company (SA) Ltd is seeking an actuarial professional for the Retail Mass Market Product and Pricing team in South Africa. The role involves developing and pricing protection products, performing experience analyses and supporting pricing testing across policy systems.

The position reports to the Senior Actuarial Supervisor and requires strong data skills, Excel proficiency and experience with actuarial modelling tools.