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South Africa

Junior Actuarial Specialist

Company Telesure Investment Holdings
Reference # JAS2021
Published 07/06/2021
Contract Type Permanent
Salary Market Related
Location Dainfern, Gauteng, South Africa
Introduction
ABOUT THE COMPANY
Telesure Investment Holdings (Pty) Ltd (TIH), is the holding company of some of
South Africa’s leading financial service providers. Our portfolio includes shortterm
insurers, a long-term insurer, health insurance as well as an insurance and
personal finance comparison platform. Our origins date back to 1 June 1985,
and we have since grown into a group of subsidiaries that includes some of
South Africa’s most loved and recognisable brands. We exist to continuously
find better ways to give people peace of mind, whether it is to protect what they
own, their loved ones or their greater ambitions and life plans. We bring
customer-focused innovation and service excellence to the financial services
industry. We’re an undivided team who believe in leading through technology
and pushing past their limits. TIH is owned by BHL (SA) Holdings Limited. BHL
has a vast global footprint.

JOB PURPOSE
Manage a team of Actuarial Analysts that support the Business goals as set out
by senior management by effectively modelling and monitoring business
Actuarial solutions. This team will care take all TIH short term brands, products
and distribution channels.
Job Functions Analysis,Analytics,Data Analysis,Data Management,Management,Mathematics, Statistics and Information,Risk Analysis
Industries Insurance
Specification
Business Requirements Identification
Elicit complex business requirements using a variety of methods such as
interviews, document analysis, workshops, and workflow analysis to express the
requirements in terms of target user roles and goals.
The effective management of pricing development, deployment and monitoring
over all TIH STI brands, products, and distribution channels. Responsible for the
management of key business metrics.
Analyze business requirements and identify root causes 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 and refine
solutions over time as more information becomes available.

Stakeholder Engagement
Identify, manage and collaborate with internal (Actuarial) and external
(Business) stakeholders. Find out their needs/issues/concerns and reacting to
these by leading and coordinating the development of stakeholder engagement
plans to support the communication of business information and decisions.
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.

Actuarial Modeling
Translate business objectives into clearly defined business cases, costs, and
schedules to support growth in the business.
Develop, maintain and implement actuarial models and processes. Models need
to be fit for purpose and able to estimate the reality accurately. Models (and any
form of estimation) to 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.

Data Collection & Analysis
Use data from a wide range of sources to analyze key themes and identify
possible impacts on the business.
Recommendations could be technical or professional in nature.
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, the incumbent should review and
acquire signed-off from the Senior Manager.

Model deployment and testing
Plan and deliver systems changes and manage the team on a day-to-day basis
to meet project timelines and quality requirements. Engage with users to identify
requirements and work with the team to design solutions.
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 on profitability and policy
growth over all brands and distribution channels.
Maintain and develop documentation on model/pricing to be deployed. 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.
Effective tracking of various pricing changes and cohorts.

Insights and Reporting
Contribute to the design and creation of reporting strategies and templates.
Lead execution of complex reports, identifying and interpreting complex patterns
and trends, and translating those insights into actionable recommendations.
Create, present, and communicate high-impact data and analytics insights and
recommendations to critical internal and external stakeholders.
Translate the monitoring results so that it can be understood and provide an
ecosystem where data and data analysis is nimble and easy to access within the
business.
Provide insight from monitoring to inform the Business of future modelling
endeavours.
Ensure monitoring is accurate and complete and regularly validated against
credible data sources.
Monitor data against actuals across all brands and distribution channels within
the business.

Leadership and Direction
Communicate the actions needed to implement the function's strategy and
business plan within the team; explain the relationship to the broader
organization's mission, vision and values; motivate people to commit to these
and to doing extraordinary things to achieve local business goals.

Performance Management
Manage and report on the performance of a substantial, diverse team; set
appropriate performance objectives for direct reports or project / account team
members and hold them accountable for achieving these; take appropriate
corrective action where necessary to ensure the achievement of team / personal
objectives.
Manage the development of pipelines and succession planning as well as
performance scoring and management. This includes team administration, the
setup of performance contracts and personal development plans to staff to
achieve Business objectives.

Improvement / Innovation
Identify shortcomings in existing business practices, then suggest and
implement improvements while developing and delivering projects or a work
stream within the organization's change management program. Involves working
with guidance from senior colleagues.
Stay up to date with Business developments and develop solutions proactively
with Business.
Maintain continuous development/research of modelling techniques and feature
engineering to improve model estimates.
Ensure data processes are continuously maintained and kept up to date.

Operational Compliance
Monitor and review performance and behaviors within area of responsibility to
identify and resolve non-compliance with the organization/actuarial profession
policies and relevant regulatory codes and codes of conduct. 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.
Requirements
General Education
Bachelors / Honours degree in Actuarial Science or similar (Essential);
Qualified or making good progression toward Actuarial qualification (Essential)

General Experience
4 or more years actuarial experience within a Short-Term insurance environment (Essential)

Managerial Experience
1 - 3 years experience of planning and managing resources to deliver predetermined objectives as specified by more senior managers (Essential)

*SAQA Accredited Equivalent - It is the onus of the applicant to provide TIH and
its subsidiaries with certified evidence that their qualification(s) meet the
equivalent NQF level required for this role at time of application. As a registered
Financial Service Provider, we are mandated to ensure that all our
representatives are and remain fit and proper at all times. By applying for this
role, you consent to having your relevant qualification and or accreditation or
confirm that you are working towards meeting the competency requirements.
You further consent to the relevant information being verified.
Job Closing Date 21/06/2021
   
   
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Last Updated: 12 days ago [21.06.01.00]
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