Senior Actuarial Specialist - Technical Pricing at Old Mutual South Africa

Job Description

• Old Mutual Group Assurance Products (GAP) is a leader in the Group Risk Products market. This market position has been achieved through a focus on consistency in service excellence and product innovation.
• Old Mutual Group Assurance Products is seeking an experienced and technically proficient actuarial student to fulfil the role of a Senior Actuarial Specialist within the Technical Pricing team.
• The incumbent will be responsible for performing experience investigations, and developing group insurance pricing bases that support the profitable pricing of new and existing business, whilst incorporating pricing analytics to maintain a competitive advantage.

Key Result Areas

• Performing regular mortality and morbidity experience investigations using modern and rigorous statistical techniques to develop group insurance pricing bases.
• Monitor the ongoing appropriateness of the pricing bases, ensuring that they remain relevant and fit for purpose.
• Maintain and improve the pricing analytics function of the business, enabling quick identification of trends in experience to maintain a competitive advantage.
• Develop and maintain pricing models using sound statistical/machine-learning techniques.
• Develop, enhance and maintain all aspects of experience-rating methodology and assumptions for large group risk schemes.
• Pricing large and complex group arrangements, ensuring that business is written on a competitive, but also financially sound basis.
• Automation of models and continuous improvement of business processes to enhance operational efficiency.
• Provide technical pricing support to the Product Development Actuary with regards to the development, maintenance and enhancements of group risk products.
• Training & development of junior actuarial students.

Requirements: Skills, Qualifications and Experience required

• Senior actuarial student making good progress with exams (exceptional candidates who do not meet this requirement may be considered)
• At least 3 years actuarial experience
• Group Assurance/Retail/Short-term pricing experience would be advantageous.
• Experience in the Group Risk or Employee Benefits industry would be a distinct advantage.
• Experience in using VBA, SQL, Tableau or Power BI would be an advantage.
• Experience in using R and Python would be a strong advantage.
• Experience in mortality and morbidity experience investigations preferred.
• Strong analytical and technical skills
• Good communication skills and have the ability to interact effectively
• Highly motivated and energetic self-starter who is good at working with complex tasks under tight deadlines

Skills

• Business Processes, Continual Improvement Process, Product Development, Product Innovations, Profitability, Statistical Analysis Techniques

Education

• Bachelors Degree (B): Actuarial Science (Required)

Closing Date

01 April 2023