Making good progress towards qualifying as an Actuary
In case of an exam lag, significant relevant experience will also be considered
At least 3 years relevant actuarial experience preferably in Financial Services
Experience in an investment support or financial services product management area is preferred
Firm understanding of actuarial principles and calculations
Knowledge of hedging and derivatives is a distinct advantage
Duties & Responsibilities
Senior Actuarial Specialist
Cape Town
Responsible for a range of technical deliveries, requiring a high level of numerical proficiency and analytical ability.
The successful candidate will own several product management processes, with a mandate to continually review and improve existing methods and reduce the risk inherent in them.
The role offers exposure to the full product cycle: from the initial idea generation, research and innovation, through to the implementation and launch stage; the ongoing maintenance, review and refinement stage; and finally, where necessary the product or fund closure stage.
Ownership of investment unit pricing process for guaranteed and structured funds.
Provide input into and support towards the development, maintenance and enhancement of guaranteed and structured funds
Technical support and calculations relating to BAU/ operational management of funds.
In the PF Retail and Wealth space, this will include calculation of prices, developing and maintaining pricing formulae, investment hedges, and investment asset allocations.
General - monitoring guarantee levels on guaranteed funds and implementing the appropriate process when a guarantee bites.
Monitoring product financial experience – compare actual vs expected experience, reporting on product metrics and fees.
Provide input and support to systems development team – create development aids and assist with testing of delivered functionality.
Process analysis and management – manage and improve existing business processes.
Management information (MI) reporting - sourcing and combining data from multiple systems, building MI reports and creating tools to streamline MI reporting.
Take ownership of technical analysis required to aid new product development and enhancement of existing products, e.g.:
o Pricing and profit testing
o Stress testing, stochastic modelling
o Asset and liability management
o Calculation of investment guarantees
o Ad hoc analyses
Fund reviews
Competitor research.
Being part of a broader team, which develops and manages annuity products, there is the scope to enjoy participation in technical work relating to annuities.
Desired Experience & Qualification
Making good progress towards qualifying as an Actuary
In case of an exam lag, significant relevant experience will also be considered
At least 3 years relevant actuarial experience preferably in Financial Services
Experience in an investment support or financial services product management area is preferred
Firm understanding of actuarial principles and calculations
Knowledge of hedging and derivatives is a distinct advantage
Knowledge of investment and pensions regulations that have an impact on product development is advantageous
Strong numerical, analytical and technical ability, particularly firm understanding of financial mathematics (compound interest calculations)
Ability to perform complex analysis and modelling
Experience with Microsoft Office suite, with advanced Excel skills
VBA experience will be beneficial
Excellent interpersonal and communication skills (both written and verbal). ability to work in a team and with a wide variety of stakeholders
Motivated self-starter, who shows initiative, looks for ways to improve existing processes and can complete tasks within agreed timelines with minimal guidance
Strong sense of ownership and accountability. Willing to learn and grow
Comfortable with ambiguity
