Commissions Actuary

Sanlam Limited; Gauteng; Hybrid; ZAR 700,000 - 1,000,000; Full time

Job summary

Join the MiWay Actuarial department in a new role focusing on optimizing internal commission structures. This exciting position requires a blend of leadership, data analysis, and stakeholder engagement skills to help improve performance in commission systems. An ideal candidate will have substantial experience in the actuarial field and a strong drive to innovate in a dynamic environment.

Benefits

Flexible working hours

Professional development opportunities

Performance bonuses

Qualifications

• Minimum 8 years in an actuarial field.
• 3+ years in a management role.
• Experience with commission structures is advantageous.

Responsibilities

• Optimize commission structures to enhance performance.
• Produce monthly remuneration reports.
• Lead the recruitment and development of a new actuarial team.

Skills

Analytical skills

Stakeholder engagement

Resilience

Education

Bachelor's degree in Actuarial Science

Tools

SQL

Python

Excel

Power BI

Job description

Press Tab to Move to Skip to Content Link Select how often (in days) to receive an alert : Create Alert At MiWay, our purpose is to enable people to live their way.

We understand that life is not just about "things" but the meaning that those things bring to your life.

We believe that technology and innovation have infinite possibilities when it's inspired by humans by you.

Therefore, we focus on our clients' needs; finding new ways to simplify their lives and how they do things.

We give them products, services, and solutions that enable them to live and enjoy life on their own terms – in their own way.

Agile values and principles are strongly embedded in our culture, and they are at the core of how we make decisions and how we approach adding value within the company.

We're all about building strong, lasting relationships with our employees.

We know that you have hopes for your future – your career, your personal development and of achieving great things.

We pride ourselves in helping our employees to realise their worth.Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.

What will you do?

Join the Miway Actuarial department to start a centralised function which oversees internal commission payments.

This is an exciting opportunity for anyone looking to start a new team and optimise the way we incentivise our commission earning staff members to achieve optimal results cost-effectively.

This opportunity is aimed at individuals who are comfortable to challenge the status quo and create and maintain commission structures with a data driven approach.

Work Location The Miway call centers are spread across Johannesburg, Kosmosdal (Centurion) and Durban.

Remote working will be considered but visits to the different call centers will be required especially at the start of the function to build relationships and understand the workings of the call centers.

Qualification Required Bachelor's degree in Actuarial Science Passed at least all academic subjects required to qualify as an Associate Member of the Actuary Society of South Africa (AMASSA) Required Experience Minimum 8 Years experience in an actuarial field Minimum 3 Years experience in a management function Experience with commission structures in call center or sales environments is advantageous.

Deliverables include, but will not be limited to Understand the current team dynamics, measures of performance and drivers of commission payments.

Analyse remuneration data and enhance current commission structures to optimize performance and cost efficiency.

Produce monthly reports on total staff remuneration in relation to value add of function to our business.

Commission forecasting and daily agent and manager reporting views.

Improve standardisation of commission mechanisms across different business units.

Automate all commission calculations.

Recommend changes to commission design for approval by a Commissions Forum.

Quantify and track cost savings from implemented commission changes.

Communicate complex actuarial models and insights to non-technical stakeholders.

We are looking for a talented individual who possesses a unique blend of skills and qualities to thrive in this dynamic role : Excellent communication and stakeholder engagement abilities.

You should be comfortable with having uncomfortable discussions around changes in remuneration.

Resilience.

You should not be afraid to experiment with new ideas or solutions and have the capacity to recover quickly from setbacks.

Strong analytical, modeling, and data interpretation skills.

You will be required to build on current reporting mechanisms which may require system development on how commission payments are calculated and saved.

A solid grasp of SQL, Python or R, Excel and dashboard software (e.g.

Power BI) would be advantageous.

Ability to build and grow a new team.

You will be required to recruit for and lead a team of actuarial team members as the function grows Success metrics We plan to roll the function out in phases across the business starting in our sales area, followed by client services and then claims.

Success metrics expected in the sales and client services area are as follows : Creating a clear understanding of all Actuarial involvement in commission calculations within 6 months.

This involvement has been spread across different team members up to now and needs to be centralised.

Implementation of new or revised commission structures where opportunities exist to increase cost effectiveness of commission structures.

Quantify cost savings in staff remuneration relative to business value add within 12 months.

Positive feedback from the Commission Forum and key stakeholders on the quality and impact of recommendations.

Knowledge and Skills Actuarial Problem Solving Actuarial Negotiation Business knowledge Business analysis Personal Attributes Business insight - Contributing through others Optimises work processes - Contributing through others Develops talent - Contributing through others Self-development - Contributing through others Core Competencies Cultivates innovation - Contributing through others Customer focus - Contributing through others Drives results - Contributing through others Collaborates - Contributing through others Being resilient - Contributing through others Turnaround time The shortlisting process will only start once the application due date has been reached.

The time taken to complete this process will depend on how far you progress and the availability of managers.

Our commitment to transformation At MiWay we believe in cultivating a positive and dynamic working environment that gives you freedom and opportunity to succeed.

MiWay is committed to transformation and embracing diversity.

This is what drives us to achieve a multicultural workplace with employment equity as a key goal to create an inclusive workforce, reflective of the demographics of our society.