Manager : Actuarial

Pps Recruitment; Johannesburg; On-site; ZAR 60 000 - 100 000; Full time

Job summary

An established industry player is seeking a Specialist Manager in Product Development to lead actuarial pricing models and ensure sound pricing strategies. This role is pivotal in analyzing product performance, chairing Claims Committee meetings, and mentoring junior actuaries. The ideal candidate will possess a strong actuarial background, excellent communication skills, and the ability to thrive under pressure. Join a dynamic team where your expertise will directly influence product offerings and contribute to the overall success of the organization.

Qualifications

• 5-10 years in product development or pricing, preferably in insurance.
• Fellow of ASSA or equivalent required for this role.

Responsibilities

• Develop and maintain actuarial pricing models using Prophet.
• Monitor claims trends and report insights to the Claims Committee.

Skills

Actuarial Principles

Product Development

Pricing Models

Excel

Communication Skills

Leadership

Strategic Thinking

Education

Matric

Fellow of the Actuarial Society of South Africa

Tools

Prophet Actuarial Software

SQL

Access

Job description

Job Title: Specialist Manager, Product Development

A specialist manager in the Product Development department who reports to the Senior Manager of Actuarial Business Solutions. The main purpose of this role is to own and maintain the PPS Insurance risk product pricing models and ensure that pricing for new and existing products is actuarially sound. The role involves monitoring experience under current products and chairing the regular Claims Committee meetings.

Additional responsibilities include monitoring other aspects of the product such as premiums under advice, lapse experience, new business volumes and mix, etc. The role may also involve leadership and managerial responsibilities for junior actuarial analysts supporting the team.

Key Interactions

• Other teams within the Actuarial Business Solutions department
• Departments within the PPS Group, including Corporate Actuarial, Claims, and IT
• External parties such as reinsurance partners and the Head of Actuarial Function

Qualifications

• Matric
• Fellow of the Actuarial Society of South Africa (ASSA) or Institute or Faculty of Actuaries (UK)

Knowledge & Experience

• 5 to 10 years of experience in product development, pricing, or reinsurance, preferably in similar products
• Attention to detail and knowledge of actuarial principles and retail insurance products
• Financial services industry background
• Excellent communication skills, computer literacy, strong Excel skills, and beneficial knowledge of Access and SQL
• Proficiency in Prophet actuarial modelling software

Skills & Attributes

• High integrity and service excellence
• Strategic thinking and ability to meet multiple deadlines
• Self-motivated with strong business acumen
• Excellent communication and presentation skills
• Ability to work under pressure and adapt to changing priorities
• Leadership qualities, responsibility, and accountability

Key Duties

• Develop and maintain actuarial pricing models using Prophet
• Conduct pricing exercises for new and enhanced products
• Determine and test pricing assumptions with the support of the product development team
• Analyze data to support pricing decisions and monitor assumptions for existing products
• Gain approval for assumptions and propose changes based on emerging experience
• Monitor claims trends and report insights to the Claims Committee, chairing the meetings
• Support other areas of the business with actuarial expertise, including testing and investigations
• Ensure alignment with ASSA guidance and regulatory requirements
• Coach and mentor actuarial team members and manage junior actuaries