Job Description

Introduction

Through our client-facing brands Metropolitan and Momentum, with Momentum Multiply (our wellness and lifestyle rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations. We help people grow their savings, protect what matters to them and invest for the future. We help companies and organizations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilizing new platforms Momentum Metropolitan provides practical financial solutions for people, communities, and businesses.

Visit us at www.momentummetropolitan.co.za

Disclaimer

As an applicant, please verify the legitimacy of this job advert on our company career page.

Role Purpose

The purpose of this role is to perform actuarial product development tasks as well as product and risk management of all retail risk products for Myriad. The incumbent will form part of the team responsible for: Product design, setting the risk management framework, product pricing, system design and testing, maintaining existing products so that the range is competitive in the chosen client segments, suitable for the chosen distribution channels and meets the Group's profitability targets.

Requirements

Experience and Qualifications

A combination of the following qualifications and experience:



All A100 and A200 level exams
Further exams will be advantageous
Honours degree in Actuarial Science is advantageous
3 - 5 years work experience
Proficient in MS Office Packages (MS Outlook, MS Word, MS PowerPoint, MS Excel)


Experience in the following areas will be advantageous:



Retail life insurance product development
Retail life insurance valuations


Experience in the following programming languages will be advantages:



Prophet
SQL.
SAS
VBA
Python
R
Java

Duties & Responsibilities

Development, pricing and design of new products.
Ensuring a quality interaction and relationship with all stakeholders.
Collaboration with all the other relevant stakeholders (internal and external) such as valuations, claims, underwriting, reinsurance partners, etc.
Understanding and using actuarial models both in terms of the regulatory and commercial environment.
Contributing towards projects, initiatives, queries and team initiatives.
Assisting marketing teams with product and pricing expertise.
Assisting sales channels with the development of sales strategies.
Design and testing of various administrative systems and processes.
Living the Momentum group values namely Accountability, Diversity, Excellence, Integrity, Innovation and Teamwork.
Driving and controlling successful implementation of product suite initiatives through to delivery including: + Providing useful product and market insights to the segment businesses;
+ Benefit design, basis setting and pricing
+ Close liaison and input into underwriting, enrolment and claims departments
+ Setting up of all administration, systems, legal and other required processes to deliver the product to market
+ Developing a close working relationship with the key distribution channels to ensure buy in to all products initiatives
+ Providing technical input and oversight of the product specific aspects contained in Client Facing Documents e.g. the User Guide and Contract.
Ongoing monitoring and maintenance on each of the products in the range including: + Monitoring sales volumes and experience in order to propose corrective actions and identify opportunities
+ Special quotes and queries
+ Building relationships and interacting with other disciplines in the organisation to ensure proactive management actions are taken
+ Underwriting (including claims), Valuation and Investment management;
+ Applying health insights in mortality and morbidity to improve client value as well as the profitability of Client Value Propositions

Competencies

High degree of self-motivation and can work independent of supervision
Innovative
A focus and understanding of customer needs
Comfortable when working in a team
Analytical and conceptual thinking
Self-confidence
* Attention to detail