Manager: Actuarial needed at PPS

Formal Qualifications:

• Matric. 
• Fellow of the Actuarial Society of South Africa (ASSA) or Institute or Faculty of Actuaries (UK).

Knowledge & Experience:

• Must have at least 5 to 10 years of experience (product development, pricing or reinsurance experience in products similar to PPS’ product range will be advantageous).
• Attention to detail is critical.
• Knowledge of actuarial principles and retail insurance products.
• Knowledge and background of the financial services industry.
• Excellent verbal and written communication skills.
• Computer literate, strong Excel skills required, Access, SQL skills would be beneficial.
• Strong administration skills.
• Knowledge of MS Office.
• Proficient in the use of Prophet Actuarial modelling software.

Duties and Responsibilities

• Development and maintain actuarial pricing models for existing products and future product enhancements using actuarial modelling software (Prophet).
• Conduct pricing exercises as and when new products are introduced or w.r.t. enhancements to existing products, using actuarial modelling techniques and Prophet.
• Determine appropriate pricing assumptions for new product enhancements, with the support of product development team and perform sensitivity testing on these assumptions.
• Analysing PPS data and experience to support pricing assumptions and to support the broader business in making decisions.
• Gain approval from Corporate Actuarial and Head of Actuarial Function on pricing assumptions.
• Monitor pricing basis for existing products to assess appropriateness of assumptions. 
• Propose changes to pricing basis based on emerging experience and engage with Corporate Actuarial Function to align the valuation basis with the pricing basis, where appropriate.
• Responsible for in-depth monitoring of claims trends and reporting of insights to the regular Claims Committee meeting.
• Chair the Claims Committee meeting, which includes attendees from the Group Executive Committee.
• Providing actuarial support to various other areas, and the broader business e.g. Technical Marketing, IT related investigations, testing support, etc.
• Support the Technical Marketing team with ongoing competitor investigations.
• Compilation of management reports and special investigations from time to time including support of new initiatives/enhancements to existing products via the PPS Product Governance framework.
• Alignment of PPS Actuarial functions with published ASSA Guidance notes, and other regulatory requirements
• Actively coach and mentor actuarial team members to enhance their work competency levels.
• Manage junior actuaries in the delivery and execution of the work deliverables.