Actuary: Data & Modelling

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

Job summary

Capitec Bank is seeking an Actuarial Specialist to enhance financial performance through strategic actuarial modeling and automation in insurance. The ideal candidate will possess a strong background in actuarial science, with at least 6 years of experience in the insurance industry, particularly in pricing and valuations. This role offers an opportunity to influence critical processes with a dynamic team.

Qualifications

• Minimum 6 years of insurance industry experience with exposure to life and general insurance.
• Strong Python coding ability and SQL proficiency.
• Experience in predictive model development and insurance data management.

Responsibilities

• Automation and improvement of valuation processes.
• Develop and maintain actuarial models and data infrastructure.
• Engagement with stakeholders for technical enablement.

Skills

Analytical Skills

Attention to Detail

Commercial Thinking Skills

Communications Skills

Interpersonal & Relationship management Skills

Numerical Reasoning Skills

Education

Honours Degree in Actuarial Science or Mathematics

Actuarial Society of South Africa Technical Member (TASSA)

Actuarial Society of South Africa Fellow (FASSA / CERA)

Tools

FIS Prophet

AWS

Power BI

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

To enhance the financial performance of Capitec Insurance through:

• Strategic implementation of the actuarial modelling environment across the insurance business to provide Capitec with a competitive edge.
• Automation and continuous improvement of the valuation and reporting process.
• Developing and maintaining the actuarial models and data infrastructure, including data models, risk scoring models, regression models and valuation models.
• Building and maintaining predictive models to support policyholder risk scoring (e.g., for lapses, mortality, retrenchment).
• Conducting experience investigations and supporting pricing activities based on rich internal data insights.

Key Tasks amd Responsibilities

• Valuations Process Automation & Improvement
• Actuarial Systems, Data and Model Development
• Pricing Support and Assumption Setting
• Stakeholder Engagement & Technical Enablement

Education (Minimum)

• Honours Degree in Actuarial Science or Mathematics

Education (Ideal or Preferred)

• Actuarial Society of South Africa Technical Member (TASSA) / Actuarial Society of South Africa Fellow (FASSA / CERA)

Knowledge and Experience

Experience
MINIMUM:

• Minimum 6 years of insurance industry experience, ideally with both life and general insurance exposure.
• Experience in building statistical or predictive models (GLMs, regression).
• Experience with cloud-based platforms such as AWS.
• Some pricing, valuations, reporting and or capital management experience.

IDEAL:

• Experience with IFRS17 and reporting software.
• Experience with actuarial modelling software, such as FIS Prophet.
• Experience with working in a team with multiple deliverables.
• Experience in working with data visualisation technologies (Power BI, etc.).
• Background in general insurance pricing or reserving would be advantageous.

Knowledge
MINIMUM:

• Strong Python coding ability for model development.
• SQL proficiency for accessing and managing data.
• Solid understanding of insurance data, policyholder behaviour, and model deployment principles.
• Knowledge of data management software and its use across the insurance value chain.
• 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:

• Familiarity with IFRS 17, Financial Soundness Standards for Insurers.
• Some coding on FIS Prophet or other actuarial/statistical modelling software.
• Relevant knowledge of actuarial modelling and data infrastructure.
• Relevant knowledge of valuations/reporting and/or capital management.

Skills

• Analytical Skills
• Attention to Detail
• Commercial Thinking Skills
• Communications Skills
• Interpersonal & Relationship management Skills
• Numerical Reasoning skills

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