Junior Actuarial Manager | Sandton

The Recruitment Council; Sandton; On-site; ZAR 400 000 - 800 000; Full time

Job summary

A dynamic opportunity awaits for a skilled Actuarial Analyst to lead a team in modeling and monitoring actuarial solutions across various brands. This role is pivotal in achieving business objectives set by senior management, requiring strong analytical capabilities and effective stakeholder engagement. You will be responsible for translating business goals into actionable actuarial models, conducting data analysis, and ensuring compliance with industry standards. Join a forward-thinking company that values innovation and continuous improvement, where your expertise will drive impactful decisions and foster professional growth within your team.

Qualifications

• Bachelor's degree in Actuarial Science or equivalent required.
• Actuarial qualification progression is preferred.

Responsibilities

• Lead actuarial analysts in modeling and monitoring solutions.
• Engage stakeholders and communicate project progress effectively.
• Develop and implement precise actuarial models.

Skills

Actuarial/statistical software

Advanced Microsoft Office skills

Financial and economic modeling

Numerical and analytical capabilities

Written and verbal communication

Presentation and reporting

Data collection and analysis

Education

Bachelor’s/Honours degree in Actuarial Science

Actuarial qualification progress

Job description

Join a dynamic team responsible for leading Actuarial Analysts, with a focus on effectively modeling and monitoring actuarial solutions across all of the company’s short-term brands, products, and distribution channels. This role will play a critical part in achieving the business objectives set by senior management.

Key Responsibilities:

Business Requirements Identification:

• Conduct in-depth analysis to extract complex business requirements using interviews, workshops, and documentation reviews.
• Manage pricing development, deployment, and performance monitoring for all brands and products.
• Clearly document business needs, root causes, assumptions, and goals to ensure alignment with business objectives.
• Provide solutions that evolve as more information becomes available, ensuring continuous improvement.

Stakeholder Engagement:

• Build and maintain relationships with internal (actuarial) and external (business) stakeholders.
• Keep stakeholders informed of project progress, ensuring clear and actionable feedback is provided.
• Ensure consistent and timely communication with the business.

Actuarial Modelling:

• Translate business goals into defined actuarial models, supporting growth initiatives.
• Develop, maintain, and implement actuarial models that are precise and fit for purpose.
• Continuously monitor model performance and provide feedback to the business.
• Ensure that data and assumptions are clearly documented.

Data Collection & Analysis:

• Analyse data from multiple sources to identify trends and inform business decisions.
• Verify data accuracy and ensure consistency with credible financial data before use.
• Collaborate with the Senior Manager to review and sign-off data used for actuarial models.

Model Deployment & Testing:

• Manage systems changes, ensuring timely delivery of solutions and compliance with quality standards.
• Perform impact and sensitivity analyses to predict the effect of pricing changes on profitability and policy growth.
• Document and monitor deployed models to ensure effectiveness and accuracy.

Insights & Reporting:

• Lead the design and creation of reports that identify trends, patterns, and actionable insights.
• Present and communicate data-driven insights to key stakeholders in a clear, impactful manner.
• Translate monitoring results into actionable recommendations for future modeling efforts.

Leadership & Team Management:

• Communicate business objectives, strategy, and values to the team to inspire commitment and extraordinary results.
• Manage performance, set clear objectives, and hold team members accountable for their contributions.
• Develop pipelines for succession planning and provide coaching for professional growth.

Continuous Improvement & Innovation:

• Identify areas for improvement in existing processes, collaborating with senior colleagues to implement new ideas.
• Stay informed on business developments and modeling techniques, ensuring that the team remains proactive in their approach.
• Ensure data processes are current and well-maintained.

Operational Compliance:

• Ensure compliance with regulatory codes and the standards set by the Actuarial Society of South Africa.
• Monitor team performance to identify and resolve compliance issues.

Mentorship & Capability Building:

• Mentor and coach team members, helping them develop technical skills in data analysis and modeling.
• Support the growth of analytical, aggregation, and modeling expertise within the team.

Behavioral Competencies:

• Action Oriented: Takes on challenges with urgency and enthusiasm.
• Manages Complexity: Simplifies complex problems by focusing on key elements.
• Manages Ambiguity: Remains effective in uncertain or unclear situations.
• Resilience: Recovers from setbacks while maintaining a positive outlook.
• Business Insight: Applies deep business knowledge to advance organizational goals.
• Accountability: Holds self and others accountable for meeting commitments.
• Effective Communication: Tailors communication to various audiences, ensuring clarity.
• Collaboration: Builds partnerships and encourages teamwork to achieve common objectives.
• Directing Work: Provides direction and removes obstacles to ensure timely delivery.
• Financial Acumen: Applies financial insights to make informed business decisions.
• Optimizing Work Processes: Continuously improves processes for better outcomes.
• Developing Talent: Supports the development of team members to achieve their career and organizational goals.
• Persuasion: Uses compelling arguments to secure support and commitment.

Skills:

• Proficient in actuarial/statistical software and advanced Microsoft Office skills.
• Expertise in financial and economic modeling.
• Strong numerical and analytical capabilities.
• Excellent written and verbal communication skills.
• Strong presentation and reporting abilities.
• Ability to manage data collection, analysis, and mining processes effectively.

Qualifications:

• Bachelor’s/Honours degree in Actuarial Science or equivalent.
• Progressing toward or completed Actuarial qualification.

Experience:

• Minimum of 4 years’ experience in actuarial work within a short-term insurance environment.
• 1-3 years’ experience managing resources and delivering on objectives.