Posted on :
15 Jul, 2021
15 Jul, 2021
Telesure Investment Holdings (Pty) Ltd (TIH), is the holding company of some of
South Africa’s leading financial long- and short-term insurance providers. Our
portfolio includes South Africa’s most loved and recognisable brands such as 1st
for Women, Auto & General, Budget, Dialdirect, Virseker and 1Life. Employee
Benefits Administration via our Hippo Advisory Services, which includes health
insurance, provident fund and group life administration. Hippo is South Africa’s
first comparison website and compares insurance, other personal finance
products, travel, health, money, travel, cars from a range of South African
brands. We’re pioneers with a hunger for the best, bringing customer-focused
innovation and service excellence to the financial services industry. We’re an
undivided team of diverse thinkers and doers who believe in leading through
technology and pushing beyond limits.
Job Title: Senior Actuarial Analyst
Location: Dainfern, Gauteng, South Africa
Reference #: #SAA2021/05
Contract Type: Permanent
Salary: Market Related
Provide actuarial technical support and coach/mentor junior analysts within the
Life 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 Identification:
Analyse business requirements and to identify root cause rather than reacting to
Business requirements need to be clearly documented within the scope of use,
definitions and assumptions made. Develop solutions that address business
requirements and objectives. Refine solutions over time as more information
Collaborate with internal (Actuarial) and external (Business) stakeholders.
Keep stakeholders informed and up to date with project/analysis delivery and
provide clear and concise feedback to stakeholders.
Maintain measurable service levels on business requests and provide feedback
that speaks to the business issue observed. Be on time and prepared for
meetings with Business.
Data Collection & Analysis:
Use data from a wide range of sources to analyse key themes and identify
possible impacts on the business.
Extract and verify data used for actuarial models.
Data/information to be reconciled against credible data sources (for example
financials) to ensure the data is complete and accurate. Ensure definitions and
assumptions are aligned to the problem statement.
Before data is used for analysis/modelling, review and acquire the required
signed-off from the Technical Manager.
Develop, maintain and implement actuarial models and processes. Models to be
fit for purpose and able to estimate the reality accurately.
Models (and any form of estimation) to be clearly documented with the scope of
use, definitions, data, and assumptions made.
Regularly monitor models to ensure model performance and that they are
communicated back to the business.
Before Models are used for estimation within the Business, the Senior Actuarial
Analyst should review and acquire signed-off.
Model deployment and testing:
Effective impact and sensitivity analysis to be performed before any deployment
Translate results from the impact/sensitivity analysis to Business, to provide
insight and what various pricing changes will mean to profitability and policy
growth within all brands and distribution channels.
Maintain and develop documentation on model/pricing and clearly state what
needs to be deployed and how testing will be done to ensure the deployment is
Ensure monitoring process are in place to measure the performance of the
Insights and Reporting:
Translate the monitoring results so they can be understood by Business.
Provide an ecosystem where data and data analysis is nimble and easy to
access by any team member.
Provide insights from monitoring to inform the Business of future modelling
Ensure monitoring is accurate and complete and regularly validated against
credible data sources.
Review of results on a regular basis and ready to be presented to the Actuarial
Improvement / Innovation:
Review existing operations in own area of work and implement innovation
processes to generate new ideas and ensure continuous improvements are
Stay up to date with Business developments and develop solutions proactively
Ensure data processes are continuously maintained and kept up to date.
Continuous development/research of modelling techniques and feature
engineering to improve model estimates.
Leadership and Direction:
Explain the local action plan to support team members in their understanding of
what needs to be done and how this relates to the broader business plan
and the organization’s strategy, mission and vision; motivate people to achieve
local business goals.
Respond to personal objectives and use performance management systems to
improve personal performance. OR Monitor the performance of the team;
allocate work and review completion, take appropriate corrective action to
ensure timeliness and quality; contribute to formal individual performance
management and appraisal.
Manage the development of pipelines and succession planning as well as
performance scoring and management. This includes the setup of performance
contracts and personal development.
Identify, 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 and
escalating issues appropriately.
Maintain standards of integrity and professionalism as set out by the Actuarial
Society of South Africa.
Mentor and coach staff on a technical and professional front. Mentor and coach
staff to develop data analysis, aggregation and cleaning skills and how to
develop models and the review thereof.
Bachelors / Honors degree in Actuarial Science or similar (Essential); Qualified
or making good progression toward Actuarial qualification (Essential)
3 or more years actuarial experience within a Long-Term insurance environment
1 or more years’ experience in general supervision of more junior colleagues
Application Deadline: 29/07/2021