Group Life Actuarial Specialist needed at Absa Group Limited

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Ops Spec: Project Management: Cape Town Contract needed at BCX

Absa Group Limited’s job vacancy, Career and Recruitment

Job title : Group Life Actuarial Specialist jobs in Gauteng

Job Location : Gauteng, Johannesburg

Deadline : August 19, 2022

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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


  • Bachelor’s Degree: Actuarial Science

Closing Date: 29th, July 2022

How to Apply for this Offer

Interested and Qualified candidates should Click here to Apply online

Ops Spec: Project Management: Cape Town Contract needed at BCX

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