Senior Actuarial Analyst
Telesure Investment Holdings (Pty) Ltd (TIH), is the holding company of some ofSouth Africas leading financial long- and short-term insurance providers. Ourportfolio includes South Africas most loved and recognisable brands such as 1stfor Women, Auto & General, Budget, Dialdirect, Virseker and 1Life. EmployeeBenefits Administration via our Hippo Advisory Services, which includes healthinsurance, provident fund and group life administration. Hippo is South Africa'sfirst comparison website and compares insurance, other personal financeproducts, travel, health, money, travel, cars from a range of South Africanbrands. Were pioneers with a hunger for the best, bringing customer-focusedinnovation and service excellence to the financial services industry. Were anundivided team of diverse thinkers and doers who believe in leading throughtechnology and pushing beyond limits. Provide actuarial technical support and coach/mentor junior analysts within theLife Insurance Actuarial team. Use Prophet and excel models to price existing products and develop new products from end-to-end in the direct and broker life space.Business Requirements IdentificationAnalyse business requirements and to identify root cause rather than reacting tosymptoms.Business requirements need to be clearly documented within the scope of use,definitions and assumptions made. Develop solutions that address businessrequirements and objectives. Refine solutions over time as more informationbecomes available.Stakeholder EngagementCollaborate with internal (Actuarial) and external (Business) stakeholders.Keep stakeholders informed and up to date with project/analysis delivery andprovide clear and concise feedback to stakeholders.Maintain measurable service levels on business requests and provide feedbackthat speaks to the business issue observed. Be on time and prepared formeetings with Business.Data Collection & AnalysisUse data from a wide range of sources to analyse key themes and identifypossible impacts on the business.Extract and verify data used for actuarial models.Data/information to be reconciled against credible data sources (for examplefinancials) to ensure the data is complete and accurate. Ensure definitions andassumptions are aligned to the problem statement.Before data is used for analysis/modelling, review and acquire the requiredsigned-off from the Technical Manager.Actuarial ModellingDevelop, maintain and implement actuarial models and processes. Models to befit for purpose and able to estimate the reality accurately.Models (and any form of estimation) to be clearly documented with the scope ofuse, definitions, data, and assumptions made.Regularly monitor models to ensure model performance and that they arecommunicated back to the business.Before Models are used for estimation within the Business, the Senior ActuarialAnalyst should review and acquire signed-off.Model deployment and testingEffective impact and sensitivity analysis to be performed before any deploymentis done.Translate results from the impact/sensitivity analysis to Business, to provideinsight and what various pricing changes will mean to profitability and policygrowth within all brands and distribution channels.Maintain and develop documentation on model/pricing and clearly state whatneeds to be deployed and how testing will be done to ensure the deployment issuccessful.Ensure monitoring process are in place to measure the performance of themodel/pricing.Insights and ReportingTranslate the monitoring results so they can be understood by Business.Provide an ecosystem where data and data analysis is nimble and easy toaccess by any team member.Provide insights from monitoring to inform the Business of future modellingendeavours.Ensure monitoring is accurate and complete and regularly validated againstcredible data sources.Review of results on a regular basis and ready to be presented to the ActuarialManagement level.Improvement / InnovationReview existing operations in own area of work and implement innovationprocesses to generate new ideas and ensure continuous improvements aredelivered.Stay up to date with Business developments and develop solutions proactivelywithin Business.Ensure data processes are continuously maintained and kept up to date.Continuous development/research of modelling techniques and featureengineering to improve model estimates.Leadership and DirectionExplain the local action plan to support team members in their understanding ofwhat needs to be done and how this relates to the broader business planand the organization's strategy, mission and vision; motivate people to achievelocal business goals.Performance ManagementRespond to personal objectives and use performance management systems toimprove personal performance. OR Monitor the performance of the team;allocate work and review completion, take appropriate corrective action toensure timeliness and quality; contribute to formal individual performancemanagement and appraisal.Manage the development of pipelines and succession planning as well asperformance scoring and management. This includes the setup of performancecontracts and personal development.Operational ComplianceIdentify, within the team, instances of non-compliance with the organization/actuarial policies and procedures and/or relevant regulatory codes and codes of conduct, reporting these andescalating issues appropriately.Maintain standards of integrity and professionalism as set out by the ActuarialSociety of South Africa.Building CapabilityMentor and coach staff on a technical and professional front. Mentor and coachstaff to develop data analysis, aggregation and cleaning skills and how todevelop models and the review thereof.
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Telesure Investment Holdings (Pty) Ltd (TIH), is the holding company of some of South Africa’s leading financial service providers.