Senior Actuarial Manager-1Life

1 Life Insurance; Gauteng; On-site; ZAR 600,000 - 900,000; Full time

Job summary

A leading insurance company in Gauteng is seeking an experienced professional to drive strategy formation, manage product development, and ensure effective stakeholder engagement. The ideal candidate should possess strong analytical skills and a solid understanding of actuarial processes. Responsibilities include budgeting, compliance, and team performance management. Competitive compensation is offered for this strategic role.

Responsibilities

• Develop and implement strategy for a significant business area.
• Manage product development, pricing frameworks, and budgets.
• Engage with key stakeholders, including C-suite level.
• Identify business requirements and document them clearly.
• Create impactful data insights for stakeholders.
• Oversee operational compliance with regulations.
• Support decision-making through financial analysis.

Skills

Action orientation

Business insight

Effective communication

Financial acumen

Data analysis

Attention to detail

Job description

RESPONSIBILITIES

Strategy Formation & Implementation

Develop the strategy for a business area of significant function, anticipating mega-trends and complex challenges and opportunities. Ensure the strategy is successfully implemented and meets long-term business needs.

Provide actuarial support to the Head of Product and Pricing and CEO of 1Life.

Ensure effective management of product development and pricing frameworks.

Responsible for implementing the Actuarial control cycle, including development, deployment, and monitoring. Manage key business metrics such as value of new business, embedded value, and profit by product line.

Budgeting & Costing

Set and manage area budgets aligned with organizational strategy. Ensure profitability through managing, setting, and monitoring key drivers. Determine profitability of premium rates for all product lines and conduct annual reviews on existing policies. Perform budgets, forecasting, and assumptions setting to ensure organizational profitability.

Stakeholder Engagement

Identify and manage stakeholders up to C-suite level, understanding their needs, issues, and concerns. Lead development of stakeholder engagement plans to communicate business information and decisions. Maintain measurable service levels and provide feedback on observed business issues.

Business Requirements Identification

Elicit complex business requirements using methods like interviews, document analysis, workshops, and workflow analysis. Document requirements clearly within scope, definitions, and assumptions. Develop solutions aligned with experienced assumptions.

Insights and Reporting

Create and communicate high-impact data and analytics insights to internal and external stakeholders. Ensure monitoring accuracy, validation, and regular updates against credible data sources.

Leadership and Direction

Communicate actions needed to implement strategy and business plans. Align with organizational mission, vision, and values. Motivate teams to achieve business goals.

Improvement / Innovation

Initiate and implement new business practices and manage change programs. Continuously seek efficiencies, stay updated with business developments, and develop actuarial techniques. Share insights with the team.

Building Capability

Implement development frameworks, provide coaching and mentoring, and ensure staff skills improvement. Support automation and leverage team strengths.

Model Deployment and Testing

Plan and deliver system changes, engage users, and oversee impact and sensitivity analyses. Translate analysis results into business insights. Monitor model performance and pricing changes.

Operational Compliance

Ensure activities comply with regulations, internal policies, and standards of integrity. Maintain alignment with actuarial standards and apply appropriate techniques.

Actuarial Modeling

Support decision-making through financial analysis, oversee model development and maintenance, and ensure models are fit for purpose with proper documentation.

Data Collection & Analysis

Make authoritative recommendations based on data analysis, ensure data accuracy, and align definitions and assumptions.

Performance Management

Manage team performance, set objectives, conduct reviews, and ensure development and succession planning align with business objectives.

Behavioral Competencies

Demonstrate action orientation, business insight, effective communication, talent development, resilience, accountability, collaboration, leadership, financial acumen, process optimization, negotiation, numerical skills, compliance, reporting, modeling, multitasking, data analysis, attention to detail, and proficiency in computer skills.