Junior Actuarial Manager | Sandton

Join a dynamic team responsible for leading Actuarial Analysts, with a focus on effectively modeling and monitoring actuarial solutions across all of the company’s short-term brands, products, and distribution channels. This role will play a critical part in achieving the business objectives set by senior management.

Key Responsibilities:

Business Requirements Identification:

• Conduct in-depth analysis to extract complex business requirements using interviews, workshops, and documentation reviews.
• Manage pricing development, deployment, and performance monitoring for all brands and products.
• Clearly document business needs, root causes, assumptions, and goals to ensure alignment with business objectives.
• Provide solutions that evolve as more information becomes available, ensuring continuous improvement.

Stakeholder Engagement:

• Build and maintain relationships with internal (actuarial) and external (business) stakeholders.
• Keep stakeholders informed of project progress, ensuring clear and actionable feedback is provided.
• Ensure consistent and timely communication with the business.

Actuarial Modelling:

• Translate business goals into defined actuarial models, supporting growth initiatives.
• Develop, maintain, and implement actuarial models that are precise and fit for purpose.
• Continuously monitor model performance and provide feedback to the business.
• Ensure that data and assumptions are clearly documented.

Data Collection & Analysis:

• Analyse data from multiple sources to identify trends and inform business decisions.
• Verify data accuracy and ensure consistency with credible financial data before use.
• Collaborate with the Senior Manager to review and sign-off data used for actuarial models.

Model Deployment & Testing:

• Manage systems changes, ensuring timely delivery of solutions and compliance with quality standards.
• Perform impact and sensitivity analyses to predict the effect of pricing changes on profitability and policy growth.
• Document and monitor deployed models to ensure effectiveness and accuracy.

Insights & Reporting:

• Lead the design and creation of reports that identify trends, patterns, and actionable insights.
• Present and communicate data-driven insights to key stakeholders in a clear, impactful manner.
• Translate monitoring results into actionable recommendations for future modeling efforts.

Leadership & Team Management:

• Communicate business objectives, strategy, and values to the team to inspire commitment and extraordinary results.
• Manage performance, set clear objectives, and hold team members accountable for their contributions.
• Develop pipelines for succession planning and provide coaching for professional growth.

Continuous Improvement & Innovation:

• Identify areas for improvement in existing processes, collaborating with senior colleagues to implement new ideas.
• Stay informed on business developments and modeling techniques, ensuring that the team remains proactive in their approach.
• Ensure data processes are current and well-maintained.

Operational Compliance:

• Ensure compliance with regulatory codes and the standards set by the Actuarial Society of South Africa.
• Monitor team performance to identify and resolve compliance issues.

Mentorship & Capability Building:

• Mentor and coach team members, helping them develop technical skills in data analysis and modeling.
• Support the growth of analytical, aggregation, and modeling expertise within the team.

Behavioral Competencies:

• Action Oriented: Takes on challenges with urgency and enthusiasm.
• Manages Complexity: Simplifies complex problems by focusing on key elements.
• Manages Ambiguity: Remains effective in uncertain or unclear situations.
• Resilience: Recovers from setbacks while maintaining a positive outlook.
• Business Insight: Applies deep business knowledge to advance organizational goals.
• Accountability: Holds self and others accountable for meeting commitments.
• Effective Communication: Tailors communication to various audiences, ensuring clarity.
• Collaboration: Builds partnerships and encourages teamwork to achieve common objectives.
• Directing Work: Provides direction and removes obstacles to ensure timely delivery.
• Financial Acumen: Applies financial insights to make informed business decisions.
• Optimizing Work Processes: Continuously improves processes for better outcomes.
• Developing Talent: Supports the development of team members to achieve their career and organizational goals.
• Persuasion: Uses compelling arguments to secure support and commitment.

Skills:

• Proficient in actuarial/statistical software and advanced Microsoft Office skills.
• Expertise in financial and economic modeling.
• Strong numerical and analytical capabilities.
• Excellent written and verbal communication skills.
• Strong presentation and reporting abilities.
• Ability to manage data collection, analysis, and mining processes effectively.

Qualifications:

• Bachelor’s/Honours degree in Actuarial Science or equivalent.
• Progressing toward or completed Actuarial qualification.

Experience:

• Minimum of 4 years’ experience in actuarial work within a short-term insurance environment.
• 1-3 years’ experience managing resources and delivering on objectives.