Commissions Actuary

Sanlam; Gauteng; Hybrid; ZAR 60,000 - 85,000; Full time

Job summary

Join a leading financial services company in South Africa as part of the Actuarial department. This role involves optimizing commission structures and overseeing payment processes aimed at incentivizing staff. The ideal candidate will have a solid background in actuarial science along with strong analytical and leadership skills, making it an exciting opportunity for career growth.

Qualifications

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

Responsibilities

• Oversee internal commission payments in the Actuarial department.
• Analyze remuneration data and optimize commission structures.
• Produce monthly reports on staff remuneration and business value.

Skills

Communication

Resilience

Analytical Skills

Education

Bachelor's degree in Actuarial Science

Passed all academic subjects required for AMASSA

Tools

SQL

Python

R

Excel

Power BI

Job description

Who are we? MiWay is a direct financial services company.

We are passionate about service excellence, convenience, and offering our clients superior value products.

Our Vision is to be a world-class direct financial services business that offers a complete array of services under one convenient umbrella – all managed online.

Category winners of the Mail & Guardian Top Companies Reputation Awards, as well as the Deloitte Best Company to Work For Survey, we are passionate about our people.

We believe that with the right people on board, we will continue to grow and give our clients the freedom to do things their way – free from worry and most importantly at peace with all the "what-ifs" of the world.

Our company values that every employee subscribes to are: Energy, Freedom, Accountability, and Attitude.

The ideal candidate is bold and embraces MiWay's core values!

Do you have a positive attitude, love a challenge, treat your colleagues with respect, and look for solutions, not problems?

If yes, then MiWay is the place for you! Build a successful career with us. We are committed to building strong, lasting relationships with our employees.

We understand your hopes for the future – your career, personal development, and achieving great things.

We pride ourselves on helping our employees realize 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 offers many opportunities for growth and development.

What will you do?

Join the MiWay Actuarial department to start a centralized function overseeing internal commission payments.

This is an exciting opportunity for someone looking to start a new team and optimize how we incentivize our commission-earning staff to achieve results cost-effectively.

This role is suited for individuals comfortable challenging the status quo and creating and maintaining data-driven commission structures.

Minimum Requirements

• Bachelor's degree in Actuarial Science
• Passed all academic subjects required for Associate Membership of the Actuarial Society of South Africa (AMASSA)
• Minimum 8 years experience in an actuarial field
• Minimum 3 years in a management role
• Experience with commission structures in call centers or sales environments is advantageous

Deliverables

• Understand team dynamics and drivers of commission payments
• Analyze remuneration data and optimize commission structures
• Produce monthly reports on staff remuneration and business value
• Standardize and automate commission mechanisms
• Recommend and implement changes to commission design
• Quantify and track cost savings from changes
• Communicate complex models to non-technical stakeholders

Competencies Required

Strong communication, resilience, analytical skills, and the ability to build and lead a team are essential. Proficiency in SQL, Python or R, Excel, and dashboard software like Power BI is advantageous.

Success Metrics

Implementation of centralized commission calculations, cost-effective structures, and positive stakeholder feedback within specified timelines.

Location

Call centers are located in Johannesburg, Kosmosdal (Centurion), and Durban. Remote work may be considered, but visits to call centers will be required initially.

Knowledge and Skills

Actuarial problem solving, negotiation, business analysis, and personal attributes like resilience and innovation are valued.

Turnaround Time

The shortlisting process begins after the application deadline. The duration depends on progress and manager availability.

Our Commitment to Transformation

At MiWay, we foster a positive, diverse, and inclusive work environment, committed to employment equity and reflecting society's demographics.