Product Developer Actuarial - Pretoria

Position Purpose

Performs more complex actuarial modelling, evaluates results and communicates findings to management.


The above-mentioned position is currently available in Centurion.

Experience & Qualifications

  • 3 years relevant experience 

  • A relevant business degree with actuarial qualifications

The Incumbent will be responsible for:

The purpose of this role is to operate within a best practice framework for the SMME Product Development function that ensures growth of the business in the target market through a comprehensive range of optimally bundled, fit for purpose and best in class bundled product solutions and client services. 

  • Communicate actuarial modelling, analyses and investigations to relevant stakeholders clearly and concisely. 

  • Drive and support effective teamwork within the department. 

  • Engage in appropriate training interventions to promote own professional development. 

  • Participate in the training junior staff as and when required. 

  • Develop and maintain actuarial models according to internal procedure and obtain sign off on new or improved models. 

  • Apply judgement based on evaluation of results. 

  • Conduct more complex modelling and analysis. 

  • Understand and maintain the regulatory and commercial actuarial processes. 

  • Apply judgement based on evaluation of results. 

  • Initiate process improvement measures and communicate these to management.

  • Provide supervision for operational objectives to ensure strategic direction. 

  • Manage short projects and lead small teams from time to time.

Specific Outputs 

  • In collaboration with the Head: Product Development plan for, implement and take joint accountability for the best practice framework of Product Development in response to the SMME Market strategy. 

  • Ensure that the Product Development function has sufficient development and packaging models in place to ensure cost effective development, maintenance and delivery of best-in-class, fit for purpose and, where possible, innovative products to target markets. 

  • Ensure that developed products are legally compliant through securing the requisite sign-off from the statutory actuary. 

  • Implement innovative and/or fit-for-purpose products within the SMME environment (including the value added products, integration of risk and investment products into the FundsAtWork offering). 

  • Implement innovative and/or fit-for-purpose risk and retirement products within the SMME environment. 

  • Implement and manage support tools for brokers and SMME Market employees that provide accurate, efficient and effective support on developed products. 

  • Provide technical marketing expertise and support to the Broker Management, Employer and Employees Management, Product Incubation/SWOT and Marketing & Communications functions. 

  • Review current business practices and procedures to identify key risk and alignment to the market if appropriate. 

  • Collaborate with other product houses. 

  • Assist in implementing and managing an online quoting capability. 

  • Provide a product operations and/or maintenance service in respect of: Underwriting strategy review, Compliance review 

  • Work collaboratively with the other business units in this segment and the Product houses to provide outstanding, effective and efficient Product Development services. 

  • Contribute to strategies and related processes to continuously grow the SMME target market. Influence new business, marketing and communication processes incorporating product development and client services to improve understanding and acceptance of product mix in the market. 

  • Cooperate with Trustee Management, Broker Management and Employer & Employee Management units to ensure that products are optimally bundled, solution orientated and fit for purpose to clients serviced through the SMME Market segment. 

  • Actively participate in the research and monitoring of the industry, target market and competitors to identify opportunities and threats as well as areas for improvement in operations. 

  • Contribute to the optimisation of retailisation, cross-selling and collaboration opportunities through appropriate relationships and product development to maximise the bundled product offerings for the market segment. 

  • Continuously strive to enhance and improve the Product Development processes. 

  • Design, implement, monitor and report on a process to gather organisational eedback regarding the application of Product Development practices, processes, documentation and business values. 

  • Represent and market this process both internally to peers and externally to clients, brokers, consultants etc. 

  • Establish and promote healthy vertical and horizontal business processes that insure efficient and effective client delivery within set expectations and agreed performance standards in the area of accountability and the overall optimisation of the value chain for the SMME market segment. 

  • Contribute and ensure compliance to Employee Benefits governance, relevant legislation and risk mitigation strategies. 

  • Ensure effective financial management, control and corporate governance. 

  • Take accountability for the management of business related risks. 

  • Craft, implement and monitor service practices that meet clients and own organisation's needs whilst simultaneously supporting the client management units to grow their client base. 

  • Ensure effective relationships and SLA management with internal and external stakeholders. 

  • Contribute to a service culture which builds rewarding relationships, proposes innovations and allows others to provide exceptional client service. 

  • Provide a professional Product Development advisory service. 

  • Participate in the design and application of a stakeholder feedback capability in respect of service delivery. 

  • Participate in practice forums to influence Product Development awareness and brand loyalty. 

  • Share and transfer product, process and systems knowledge to colleagues. 

  • Collaborate and work with the Product Development team to deliver required service levels. 

  • Actively participate in the Product Development team to ensure functional balanced scorecard objectives are achieved. 

  • Ensure achievement of own performance objectives. 

  • Actively share information with other team members regarding successes, issues, trends and ideas. 

  • Actively participate in own professional development and career path. 

  • Ensure active resource planning incorporating all practices.

Competencies Required

Accountability: Is responsible for results expected and all resources that have been placed under one’s care. Is open to sharing results and resources with others. 
Communicating with Impact: Communicates effectively in both the written and verbal format. Delivers clear, succinct messages and ensures understanding of others' message. 
Decision making and problem solving: The extent to which an individual is able to recognize and analyse a problem and/or a difficult situation and develop an appropriate and results-oriented course of action. 
Organization and Attention to Detail: The extent to which one systematically employs a standard system of organization in work process and related resources and an overall concern for integrating all aspects of the task, situation and/or work-related problem. 
Customer orientation: Making customers and their needs a primary focus of one’s actions; developing and sustaining productive customer relationships. 
Results Orientation: Consistently delivers required business results; sets and achieves achievable, yet aggressive, goals; consistently complies with quality standards and meets deadlines; maintains focus on organizational goals. 
Enables Team Success: The extent to which one utilizes appropriate interpersonal styles and employs teambuilding strategies, for the purpose of enriching the development of a group of people towards desired goals and objectives. 
Customer orientation: Making customers and their needs a primary focus of one’s actions; developing and sustaining productive customer relationships. 
People skills: The ability to influence a wide range of diverse individuals and groups positively.

Please note that, should you not have heard from us in 14 days, you may consider your application unsuccessful.

Correspondence will only be entered into with shortlisted candidates.

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