Senior Actuarial Analyst

Telesure Investment Holdings (TIH); Johannesburg; On-site; ZAR 600,000 - 1,100,000; Full time

Job summary

TIH in Johannesburg invites applications for an Actuarial Analyst role within the STI Actuarial team. You will provide technical actuarial support, coach junior analysts and apply statistical models to analyse events, probabilities and costs.

Key duties include data collection and analysis, model development and deployment, insights reporting, stakeholder engagement, and ensuring regulatory and process compliance across brands and distribution channels.

Qualifications

• Bachelor/Honours in Actuarial Science or similar (Essential)
• Actuarial qualification progression (Essential)
• Analytical and modelling skills with data interpretation

Responsibilities

• Provide actuarial technical support and coach junior analysts within the STI Actuarial team.
• Use statistical models to analyse data and calculate probabilities and costs of events.
• Perform data collection, cleaning and validation to support modelling and decision making.
• Develop, maintain and deploy actuarial models and processes with proper documentation.
• Translate monitoring results into business insights for pricing, profitability and policy growth.
• Engage with internal and external stakeholders, ensuring timely and clear communication.
• Lead and mentor staff in data analysis, modelling and review of work products.

Education

Bachelor/ Honours degree in Actuarial Science

Actuarial qualification progression

Tools

Statistical software

Job description

Join TIH, home to some of South Africa’s leading financial service providers, and grow your career while being part of an organisation with purpose.

Job Purpose

Provide actuarial technical support and coach/mentor junior analysts within the STI Actuarial team. Use statistical models to analyse data and calculate the probability of and costs associated with certain events.

Responsibilities

Business Requirements Identification

Analyse business requirements and to identify root cause rather than reacting to symptoms. Business requirements need to be clearly documented within the scope of use, definitions and assumptions made. Develop solutions that address business requirements and objectives.

Refine solutions over time as more information becomes available.

Stakeholder Engagement

Collaborate with internal (Actuarial) and external (Business) stakeholders. Keep stakeholders informed and up to date with project/analysis delivery and provide clear and concise feedback to stakeholders. Maintain measurable service levels on business requests and provide feedback that speaks to the business issue observed. Be on time and prepared for meetings with Business.

Data Collection & Analysis

Use data from a wide range of sources to analyse key themes and identify possible impacts on the business. Extract and verify data used for actuarial models. Data/information to be reconciled against credible data sources (for example financials) to ensure the data is complete and accurate. Ensure definitions and assumptions are aligned to the problem statement. Before data is used for analysis/modelling, review and acquire the required signed-off from the Technical Manager.

Actuarial Modeling

Develop, maintain and implement actuarial models and processes. Models to be fit for purpose and able to estimate the reality accurately. Models (and any form of estimation) to be clearly documented with the scope of use, definitions, data, and assumptions made. Regularly monitor models to ensure model performance and that they are communicated back to the business. Before Models are used for estimation within the Business, the Senior Actuarial Analyst should review and acquire signed-off.

Model deployment and testing

Effective impact and sensitivity analysis to be performed before any deployment is done. Translate results from the impact/sensitivity analysis to Business, to provide insight and what various pricing changes will mean to profitability and policy growth within all brands and distribution channels. Maintain and develop documentation on model/pricing and clearly state what needs to be deployed and how testing will be done to ensure the deployment is successful. Ensure monitoring process are in place to measure the performance of the model/pricing.

Insights and Reporting

Translate the monitoring results so they can be understood by Business. Provide an ecosystem where data and data analysis is nimble and easy to access by any team member. Provide insights from monitoring to inform the Business of future modelling endeavours. Ensure monitoring is accurate and complete and regularly validated against credible data sources. Review of results on a regular basis and ready to be presented to the Actuarial Management level.

Improvement / Innovation

Review existing operations in own area of work and implement innovation processes to generate new ideas and ensure continuous improvements are delivered. Stay up to date with Business developments and develop solutions proactively within Business. Ensure data processes are continuously maintained and kept up to date. Continuous development/research of modelling techniques and feature engineering to improve model estimates.

Leadership and Direction

Explain the local action plan to support team members in their understanding of what needs to be done and how this relates to the broader business plan and the organisation's strategy, mission and vision; motivate people to achieve local business goals.

Performance Management

Respond to personal objectives and use performance management systems to improve personal performance. OR Monitor the performance of the team; allocate work and review completion, take appropriate corrective action to ensure timeliness and quality; contribute to formal individual performance management and appraisal. Manage the development of pipelines and succession planning as well as performance scoring and management. This includes the setup of performance contracts and personal development.

Operational Compliance

Identify, within the team, instances of non-compliance with the organisation/ actuarial policies and procedures and/ or relevant regulatory codes and codes of conduct, reporting these and escalating issues appropriately. Maintain standards of integrity and professionalism as set out by the Actuarial Society of South Africa.

Building Capability

Mentor and coach staff on a technical and professional front. Mentor and coach staff to develop data analysis, aggregation and cleaning skills and how to develop models and the review thereof.

Education

Bachelors / Honours degree in Actuarial Science or similar (Essential); Qualified or making good progression towards Actuarial qualification (Essential)

Experience

2 or more years actuarial experience within a Short-Term insurance environment (Essential). 1 or more years experience in general supervision of more junior colleagues (Essential)