Job Description

The role will be responsible for the following across Absa’s Life Insurance entities in South Africa and the rest of Africa:

• Support the development of the Group Life product strategy in partnership with the Business Development function
• Execute the Group Life product strategy in partnership with other functional subject matter experts, including Business Development, Distribution, Claims, Underwriting and Administration
• Understand the competitive landscape and general commercial and economic environment through market research in order to help inform product design
• Develop, review and maintain the Group Life product offering to ensure it remains competitive and meet specific customer needs
• Develop, review and maintain the Group Life pricing guideline and philosophy in partnership with the Head of Pricing
• Develop quoting process, including setting appropriate decision making mandates and review processes for larger schemes
• Monitor claims experience and profitability metrics against budget and risk appetite targets and recommend corrective action where required
• Ensure appropriate reinsurance structures are in place whilst considering the pricing, earnings volatility and concentration risk across the portfolio
• Collaborate with reinsurance partners to optimize the product and pricing proposition
• Support the Head of Actuarial Function to deliver the requirements of the relevant guidelines and standards relating to the soundness of product features and terms and conditions
• Understand and ensure adherence to regulatory requirements and internal governance and control policies and procedures

Role requirements:

• Actuarial student making significant progress with Actuarial exams (3 or 4 exams away from qualifying)
• At least 5 years’ Group Life related experience, including Product Development and Pricing experience
• Ability to work independently, be self-motivated and passionate about executing effectively and with high quality
• Passionate about continuous improvement and disruptive innovation, whilst challenging the traditional ways of working
• Strong, professional and confident communication and networking skills
• Supportive of and passionate about a diverse working environment and working with colleagues with diverse cultural backgrounds
• Ability to engage with a range of different stakeholders

Education

• Bachelor’s Degree: Actuarial Science

Closing Date: 29th, July 2022