National Financial Institution

Key Performance Area Input (method used) Time Spent
1.
Product design
 Ensuring product designed to meet TCF principles
 Helping IT develop systems to administer products
 Working with BD&E to ensure marketing teams develop correctly worded brochures, websites, etc
 Reinsurance structures – ensure most efficient retention level set for each product
 Conduct market research and perform competitor analysis to ensure our products are competitive
40%
Technical and Behavioral Competencies
2.
Product Pricing
 Reviewing current product to ensure they meet the company’s profitability requirements
 Conduct experience investigations to ensure experience is within acceptable ranges
 Pricing new products
 Coding of products into Prophet
 Complete business cases
 Setting up management tools for assessing viability and ongoing suitability of products
 Investigate broker consultant queries
 Conduct ad-hoc projects as needed
40%
3.
Product Formulation
 Providing technical support to sales and marketing areas
 Reinsurance retention investigations
 Meeting with reinsurers
 Adhoc calculations (e.g. commission calculations)
 Manage data analysis and maintaining data integrity
 Provide technical support to the claims and underwriting team
 Make recommendations for improvements in all problem areas, systems and processes in team and across group risk operations
 Setting targets and deadlines to achieve operational efficiency
20%
MCR and RDR
• Ensure that all calculations are sound and that products promises are delivered
• Calculating benefits and pricing to ensure products and services meet customer needs; May identify unmet needs or innovative opportunities
• Writing clearly and timeously, relevant to the reader; Billing in a clear unambiguous manner
• Ensuring complexity of actuarial calculations do not result in complexity for clients in understanding products or accessing benefits
• Compliance with relevant regulation
• Fulfills his/her duties in such a manner that the relevant MCR outcomes are delivered
• Constructively speaks up about any MCR short-coming in any part of the business
• Quickly owns up to any mistakes or oversights that he/she may be party to that may have negative MCR consequences
Technical Skills
 Strong knowledge of life insurance principles
 Strong Business acumen
 Excellent oral & written communication skills
 Ability to multi-task
 Ability to collaborate across the organization
 Be able to work in a matrix structure
 Ability to anticipate and manage change
 Innovative thinking and delivery
Behavioral (Interpersonal and Intrapersonal)
 Professional and mature business attitude
 Ability to manage expectations
 Responsible & accountable
 Resourceful problem solver
 Effective communication
 Team player
 Quality, accuracy and detail orientation
 Ability to interact with clients and peers at all levels
Cognitive Competencies
 Ability to solve complex business problems
 Ability to perform detailed mathematical calculations
 Ability to analyze information and select best solution from a range of alternative solutions

Formal Qualifications
 A 4 year degree with a major in mathematics, actuarial science or statistics
 10 of the Actuarial Exams completed
Required Experience
 3 – 5 years relevant experience in Life Insurance
 Experience in individual life products is essential
 Good knowledge of the insurance industry.
 A sound mathematical knowledge is essential
 Statistical knowledge will be advantageous
 Proficiency in Excel and Prophet
 Knowledge of Prophet and DCS will be an advantage.
 Knowledge of SQL will be an advantage

For more information contact our office 011 463 5540 or click "I"m interested"