Job Description

Job Advert Summary

The role plays a leading part in the design, development and pricing of the PPS Insurance risk products, ensuring that pricing of new products or enhancements to existing products are actuarially sound; that products are competitive and aligned with the needs of PPS' target market.

Minimum Requirements

Qualification:


Matric? Nearly/newly qualified Fellow of the Actuarial Society of South Africa (ASSA) or Institute or Faculty of Actuaries (UK)

Experience:


Must have at least 5 to 10 years of pricing experience. Product development and/or reinsurance experience will be an advantage. Experience and Knowledge of 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

Develop 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 or enhancements on existing products are introduced, using actuarial modelling techniques and Prophet. Determine appropriate pricing assumptions and perform sensitivity testing on these assumptions. Analysing PPS data and experience to support pricing assumptions and broader business in making decisions. Monitor pricing basis for existing products to assess profitability and sustainability 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. Follow PPS governance processes to gain approval for pricing and product-related proposals (e.g. Corporate Actuarial, Head of Actuarial Function, Group Actuarial Committee). Providing actuarial support to various other areas, and the broader business e.g. Technical Marketing, IT related investigations, testing support, etc. 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.