Senior Actuarial Analyst

Job Title: Senior Actuarial Analyst
Company: 1Life Insurance
Location: Gauteng, South Africa
Job Type: Permanent
Positions Available: 1
Reference Number: S0080036

Company Overview:
1Life Insurance, a wholly-owned subsidiary of Clientele Limited, is dedicated to transforming the South African life insurance industry into a customer-friendly and service-oriented environment. The company aims to improve the lives of both its customers and staff through innovation and education.

Job Purpose:
The Senior Actuarial Analyst will provide technical actuarial support and mentorship to junior analysts, using statistical models to analyze data and calculate probabilities and costs associated with various events.

Key Responsibilities:

1. Business Requirements Identification:
   • Analyze and document business requirements, identifying root causes of issues.
   • Develop and refine solutions to meet business objectives.
2. Stakeholder Engagement:
   • Collaborate with internal and external stakeholders, providing updates and feedback.
   • Maintain service levels and prepare thoroughly for stakeholder meetings.
3. Data Collection & Analysis:
   • Analyze data from multiple sources, ensuring accuracy and alignment with problem statements.
   • Obtain necessary approvals before using data for actuarial models.
4. Actuarial Modelling:
   • Develop and maintain actuarial models, ensuring they accurately estimate real-world scenarios.
   • Document models clearly and monitor their performance regularly.
5. Model Deployment and Testing:
   • Conduct impact and sensitivity analyses before deployment.
   • Communicate analysis results to stakeholders, ensuring deployment is successful.
6. Insights and Reporting:
   • Provide insights from model monitoring to inform future business strategies.
   • Regularly validate monitoring results against credible data sources.
7. Improvement / Innovation:
   • Implement processes to improve model estimates and stay updated on business developments.
   • Maintain data processes and explore new modelling techniques.
8. Leadership and Direction:
   • Support team members in aligning their actions with broader business strategies.
   • Motivate team members to achieve business goals.
9. Performance Management:
   • Monitor team performance, allocate tasks, and manage performance contracts and personal development plans.
10. Operational Compliance:
    • Ensure compliance with actuarial policies, procedures, and professional standards.
11. Building Capability:
    • Mentor and coach junior staff on data analysis, model development, and technical skills.

Technical Competencies:

• Advanced computer skills, including actuarial and statistical software and Microsoft Office.
• Strong modeling, numerical, and data analysis skills.
• Effective written and verbal communication, presentation skills, and analytical processes.
• Ability to plan, organize, and ensure compliance with relevant standards.

Job Requirements:

• Education:
  • Bachelor’s or Honours degree in Actuarial Science or related field (essential).
  • Qualified or progressing towards an actuarial qualification (essential).
• Experience:
  • 2+ years of actuarial experience in a life insurance environment (essential).
  • 1+ years of supervisory experience with junior colleagues (essential).

This role offers the opportunity to contribute significantly to 1Life Insurance’s actuarial functions while developing leadership skills in a dynamic insurance environment.

 

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