Job Description

RESPONSIBILITIES

Strategy Formation & Implementation

Develop the strategy for a business area of significant function, anticipating



mega-trends and complex challenges and opportunities. Ensure the strategy is



successfully implemented and meets long-term business needs.



Provide actuarial support to Head of Product and Pricing and CEO of 1Life.



Ensure the effective management of product development and pricing



framework.



Responsible for implementing the Actuarial control cycle; ie development,



deployment and monitoring thereof. Responsible for the management of key



business metrics, such as value of new business, embedded value, and profit by



product line.

Budgeting & Costing

Take responsibility for setting and managing area budgets so they align with



organisational strategy.



Ensure the company is profitable through managing, setting and monitoring key



drivers.



Determine profitability of premium rates for all product lines as well as



implementing annual reviews on existing policies.



Perform budgets, forecasting and assumptions setting, in order to ensure profitability of the organisation.

Stakeholder Engagement

Identify and manage stakeholders up to C-suite level, finding out their needs/



issues/concerns and reacting to these by leading and coordinating the



development of stakeholder engagement plans to support the communication of



business information and decisions.



Maintain measurable service levels on business requests and provide feedback



that speaks to the business issue observed.

Business Requirements Identification

Elicit the most complex business requirements using a variety of methods such



as interviews, document analysis, workshops, and workflow analysis to express



the requirements in terms of target user roles and goals.



Ensure business requirements need is clearly documented within the scope of



use, definitions and assumptions made. Develop solutions that are in align with



experienced assumptions.

Insights and Reporting

Establish business-critical strategies to create, present, and communicate high impact



data and analytics insights and recommendations to critical internal and



external stakeholders.



Ensure monitoring is accurate and complete and regularly validated against



credible data sources.

Leadership and Direction

Identify and communicate the actions needed to implement the function's



strategy and business plan within the business area or department; explain the



relationship to the broader organisation's mission, vision and values and



motivate people to commit to these. Stay engaged and dedicated to achieving the



business goals.

Improvement / Innovation

Initiate, formulate and implement new business practices within a specific



discipline while managing the development and/or delivery of a significant



element of the organisation's change management program.



Continuously review and find effective ways to improve on efficiencies across the



business. Stay up to date with business developments and develop solutions



proactively with business. Maintain continuous development/research of



actuarial techniques and share insights with the team.

Building Capability

Implement formal development frameworks for a substantial department. Provide



others throughout the organization with informal coaching and mentoring.



Mentor and coach staff on a technical and professional front. Ensure staff



develop further skills and capabilities to ensure better model development.



Assist staff to increase own capacity to automate processes. Encourage staff to



leverage each other's strengths, to improve the teams overall performance.

Model deployment and testing

Plan and deliver systems changes and manage the team on a day-to-day basis



to meet project timelines and quality requirements. Engage with users to identify



requirements and work with the team to design solutions.



Oversee the effective impact and sensitivity analysis to be performed before any



deployment is done. Translate results from the impact/sensitivity analysis to



Business to provide insight and what various pricing changes will mean on



profitability and policy growth.



Ensure monitoring processes are in place to measure the performance of the



model/pricing. Oversee the effective tracking of various products and pricing



changes and cohorts.

Operational Compliance

Ensure that business activities within a significant area of responsibility comply



with relevant external regulatory and/or voluntary codes and with internal



policies to minimize business risk and protect the reputation of the organisation.



Maintain standards of integrity and professionalism as set out by the Actuarial



Society of South Africa. Apply appropriate techniques in alignment with APN's.

Actuarial Modeling

Undertake strategic and tactical financial analysis, modelling, and evaluation to



support business leaders in their decision making.



Oversee the development, maintenance and implementation actuarial models



and processes. Models need to be fit for purpose and able to estimate the reality



accurately. Models (and any form of estimation) to clearly documented with the



scope of use, definitions, data, and assumptions made. Ensure that there are



process documents in in place to ensure that the models can be understood by



external stakeholders. Ensure processes are in place to reduce the risk of



incorrect modelling and support new users.

Data Collection & Analysis

Make authoritative recommendations that have a significant impact on the



business over the short and long term. Recommendations could be technical or



professional in nature.



Oversee the 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.

Performance Management

Manage and report on the performance of a substantial, diverse team; set



appropriate performance objectives for direct reports or project / account team



members and hold them accountable for achieving these; take appropriate



corrective action where necessary to ensure the achievement of team / personal



objectives. Manage the development of pipelines and succession planning as



well as performance scoring and management including team administration,



setup of performance contracts and ensure the alignment of the performance



management process to the business objectives.

BEHAVIORAL COMPETENCIES

Action Oriented

Takes on new opportunities and tough challenges with a sense of urgency, high



energy, and enthusiasm. For example, finds and leads the organization to



pursue new business opportunities. Encourages others to move quickly, removes



barriers to others' initiatives. Personally, shows high energy and commitment.

Business Insight

Applies knowledge of business and the marketplace to advance the



organization's goals. For example, maintains ample, up-to-date business and



industry knowledge in order to make sound decisions for the organization.



Understands the policies and other external factors affecting the organization.

Communicates Effectively

Develops and delivers multi-mode communications that convey a clear



understanding of the unique needs of different audiences. For example, ensures



a free flow of information throughout the organization. Delivers messages



effectively to all levels of the organization, creates forums for people to express



themselves openly and regularly.

Develops Talent

Develops people to meet both their career goals and the organization's goals.



For example, builds long-term succession for key roles. Builds a learning culture



in the team, uses teachable situations to offer insightful coaching. Recommends



and facilitates activities and assignments that help people grow.

Manages Ambiguity

Operates effectively, even when things are not certain or the way forward is not



clear. For example, sees and seizes possible opportunities in unknown



situations. Steers others skillfully with a stabilizing presence and clear targeted



coaching in order to make significant progress.

Manages Complexity

Makes sense of complex, high quantity, and sometimes contradictory information



to effectively solve problems. For example, sees the systematic elements of



issues' the major connections, linkages, and interdependencies. Ensures the



organization has reliable ways to gather needed information.

Being Resilient

Rebounds from setbacks and adversity when facing difficult situations. For



example, shows great composure, a positive attitude, and strong judgment, even



in adverse situations; gains maturity and wisdom and shares life lessons with



others. Responds resourcefully to crises, helps others remain productive and



positive.

Ensures Accountability

Holds self and others accountable to meet commitments. For example,



emphasizes accountability, measures organizational performance against goals,



addresses poor team performance, does not accept blaming others or excuses.

Collaborates

Builds partnerships and works collaboratively with others to meet shared



objectives. For example, enhances and improves collaboration among coworkers



and with external partners. Solicits ideas from diverse colleagues, leaves space



in conversation for them; gives credit well and generously.

Directs Work

Provides direction, delegating, and removing obstacles to get work done. For



example, delegates considerable responsibility to staff with clear expectations



and targeted guidance, removing obstacles. Fosters highly efficient teams;



tracks team performance with appropriate metrics and provides feedback.

Financial Acumen

Interprets and applies key financial indicators to make better business decisions.



For example, takes anticipated returns and risks into account when determining



investment decisions. Ensures that organizational performance is being



measured by sound data, analyses, and insights.

Optimizes Work Processes

Knows the most effective and efficient processes to get things done, with a focus



on continuous improvement. For example, motivates people to produce highest quality



outcomes and pursue continuous improvement. Sees that problems are



well examined and improvements are integrated into all relevant work processes.

Persuades

Uses compelling arguments to gain the support and commitment of others. For



example, deftly explains how own ideas can advance others' interests and



address their concerns. Uses sophisticated negotiation skills; earns concessions



while building a sense of partnership. Expresses views with powerful conviction



and rationale.

SKILLS

Action Planning

Use comprehensive knowledge and skills and provide guidance and training to



others on how to develop appropriate plans or perform necessary actions based



on recommendations and requirements.

Analytical Processes

Apply expertise to act as the organizational authority on supporting research



schedules using appropriate analytical processes and procedures.



Product Development

Negotiation

Use comprehensive knowledge and skills to negotiate and provide guidance and



training to others on how to help the organization by obtaining consensus



between two or more internal or external parties who may have different



interests.

Numerical Skills

Use an expert understanding of numerical concepts to act as organizational



authority on performing mathematical operations such as report analysis.



Finance and budget process and procedures, Pricing, Strong background in



mathematics and statistics.

Compliance

Use comprehensive knowledge and skills and guide and train others to achieve



full compliance with applicable rules and regulations in management and/or



operations.



Actuarial Society of South Africa, South African Life Insurance Act and



Regulations.

Reporting

Apply comprehensive knowledge and guide and train others to create relevant,



lucid and effective reports.

Modelling

Use comprehensive knowledge and skill and guide and train others to develop



financial and economic models for planning and monitoring purposes.

Multitasking

Apply comprehensive knowledge / skill, and provide guidance and training to



others.

Data Collection and analysis

Act as the organisational authority and established expert on analyzing data



trends for use in reports to help guide decision making.

Attention to details

Apply comprehensive knowledge / skill, and provide guidance and training to



others.

Computer Skills

Independently supports business processes with comprehensive understanding



and effective use of standard office equipment and standard software packages,



while also providing guidance and training to others.



Actuarial and statistical software., Advanced Microsoft Office., Prophet and/or



Basys

Verbal and Written Communication

Apply comprehensive knowledge and provide guidance and training to others on



how to use clear and effective verbal communications skills to express ideas,



request actions and formulate plans or policies.

Presentation skills

Use comprehensive knowledge and skills to communicate with other people and



provide guidance and training to others on how to speak in a clear, concise and



compelling manner.

Planning and Organizing

Use comprehensive knowledge and skills and provide guidance and training to



others on how to plan, organize, prioritise and oversee activities to efficiently



meet business objectives.

Data mining

Apply comprehensive knowledge / skill, and provide guidance and training to



others.

Data Management

Apply comprehensive knowledge and skills and provide guidance and training to



others on how to acquire, organise, protect and process data to fulfil business



objectives.

EDUCATION

General Education

Bachelors / Honours degree in Actuarial Science or similar (Essential) Qualified or near qualified Actuarial qualification with Life Insurance technical subject (Essential) FASSA (Fellow of the Society of SA) Qualified actuary (Fellow of the actuarial) (society) Any relevant management qualification: Degree / Diploma or relevant Leadership Development Program (Advantageous)

EXPERIENCE

General Experience

6 or more years Actuarial work experience in financial services (Essential) 5 years' experience in Life Insurance Valuations and Life Insurance Pricing (Essential)

Managerial Experience

6 years to 10 years' experience of planning, managing and organizing resources within short / medium timescales within the overall policy framework (Essential)

ADDITIONAL INFORMATION

SAQA Accredited Equivalent - it is the onus of the applicant to provide 1Life and its subsidiaries with certified evidence that their qualification(s) meet the equivalent NQF level required for this role at time of application. Financial Sector Conduct Authority (FSCA) competency requirements: FAIS recognised qualifications / Regulatory Examinations / Class of Business Certification and / or CPD according to your DOFA (where applicable). As a registered Financial Service Provider, we are mandated to ensure that all our representatives are and remain fit and proper at all times. By applying for this role, you consent to having your relevant qualification and or accreditation or confirm that you are working towards meeting the competency requirements. You further consent to the relevant information being verified.