Actuarial Pricing Specialist
MECS Africa Johannesburg
Duties and Responsibilities
- Take accountability for all product development and pricing frameworks.
- Coordination with IT, underwriters, claims teams and product owners to develop holistic understandings of various products and processes within the space.
- Lead rate reviews and re-pricing exercises for the existing product suite to maintain technical soundness and market competitiveness.
- Oversee the assessment and approval of new product offerings, ensuring they are commercially viable and compliant.
- Review and ensure the accuracy of fellow team members' work and provide guidance to junior actuarial analysts.
- Improve tools and processes that monitor the accuracy of policy values.
- Investigate, quantify and explain any deviations and advise on corrective measures.
- Ensure that all projects to be implemented adhere to audit and risk management requirements.
- Collaboration with external business support to define and develop the pricing models and processes.
- Support clients in the design and development of bespoke products, with a focus on innovation, profitability, and sustainability.
- Manage financial performance reporting, including monitoring product profitability and adherence to best practice actuarial standards.
- Act as a senior technical advisor to both management and external stakeholders, translating complex actuarial insights into actionable business decisions.
- An Actuarial or bachelors degree with mathematics or statistics as majors.
- Associate Actuary or making good progress with Associate level exams.
- 5 years' relevant work experience.
- Modelling experience.
- Coding knowledge in SQL, Python and R advantageous.
- Knowledge of insurance products, contracts and relevant industry legislations.
- Sound numerical skills and computer literacy is essential especially in the use of MS Excel, MS Word and
- SQL.
- Skills / Experience in extraction would be advantageous
- Ability to examine and interpret data and provide insights, strong technical expertise.
- Achievement orientation.
- Effectively manage time and ensure optimal productivity. Excellent analytical and communication skills.
- Results and solution focused.
- High degree of self-motivation and the ability to work independent of supervision.
- Naturally inquisitive mind set, with a strong innovative tendency.
- Self Confidence.
- Flexibility to cope with pressure and setbacks.
- Delivering results and meeting expectations.
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