Sandton

Associate

Qualified

Life

Health

Property & Casualty

Reserving

Reporting

Reinsurance

Risk

Python

Modelling

Coding

Pricing

Excel

Marine

As part of this role, the key areas you will be involved in are as follows:<ul><li>Involvement in all pricing activities in the Life &amp; Health domain in South Africa</li><li>Assist in development of best-in-class bases</li><li>Involvement in product development and product enhancements for life insurance products</li><li>Pioneering thought leadership in (re)insurance industry</li><li>Involvement in client relationship building from a technical perspective</li></ul>Responsibilities<ul><li>New and existing business pricing for all lines of life insurance business (Retail, Group, Credit Life, Financial Solutions)</li><li>Involvement in client tender pricing and proposals</li><li>Experience investigations (incidence and terminations)</li><li>Lapse investigations</li><li>Group facultative reinsurance quotations</li></ul>Basis Development<ul><li>Internal basis development for all life insurance products</li><li>Using modelling techniques to propose bases</li></ul>Product Development<ul><li>Assisting in developing new products and/or product enhancements</li></ul>Thought Leadership<ul><li>Thought leadership in insurance industry</li><li>Research and data analytics</li><li>Involvement in client seminars, industry events and various publications</li></ul>Client relationships<ul><li>Fostering positive client interactions in the day-to-day work, thought leadership, and through supporting the Business Development team where necessary.</li></ul>QualificationsWe are ideally looking for candidate who have the following experience and competencies.Essential<ul><li>Previous working experience in the Life (re-)insurance industry.</li><li>Excellent knowledge of Microsoft packages (particularly Excel)</li></ul>Desirable<ul><li>Experience of coding</li><li>Strong technical, analytical and modelling skills.</li><li>Takes accountability and can work independently.</li><li>Produces a high standard of work with an appropriate level of attention to detail.</li><li>Strong initiative and ability to manage multiple projects.</li><li>Have an ability to network and cultivate relationships</li><li>Strong decision making abilities</li></ul>Personal Competences<ul><li>Excellent technical and analytical skills</li><li>Attention to detail</li><li>Good communication skills</li><li>Self-motivated and pro-active</li><li>Ability to work autonomously</li><li>Flexible</li><li>Innovative</li><li>Team spirit</li></ul>EducationEssential<ul><li>Recently qualified Actuary / Very nearly qualified</li><li>Good working knowledge of MS Excel, Word and VBA.</li></ul>Desirable<ul><li>Good working knowledge of any of the following: SAS, R, Python, SQL.</li></ul>About usSCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Leveraging experience and expertise to deliver “The Art &amp; Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – from Life &amp; Health and Property &amp; Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR’s success.

A new position has arisen within the single risk pricing team in South Africa. This role would suit an Actuarial Analyst who would like to take the next step in their career and broaden their knowledge. It provides the opportunity to work within a diverse, and growing pricing team who oversee a global book of business covering; Property, Energy, Construction, Cyber, War &amp; Terrorism, Marine (Hull, Cargo, &amp; Shipbuilding), and Fine Art &amp; Specie.The job holder will be a key member of the SGP&amp;C Specialty Insurance Single Risks Pricing team supporting business written by SCOR (including SCOR Syndicate) with particular focus on short-tail lines. The work includes: testing and maintaining pricing models, pricing of key individual accounts, large account pricing reviews, working with Underwriters, producing management information reports and conducting pricing related analyses such as model recalibration and portfolio monitoring.This role will not include people management at the beginning but possibly within few months if the situation evolves well as expected.Responsibilities<ul><li>Test and maintain pricing tools</li><li>Ensure pricing models are appropriately calibrated and used appropriately by Underwriters, including rate change calculation.</li><li>Maintenance of existing pricing tools including technical documentation / specifications / change parameter documentation (including impact analysis).</li><li>Actively build relationship with Underwriters and assist in change management (including training) when onboarding Underwriters on to new pricing tools or platforms.</li></ul><ul><li>Pricing and review key individual accounts:</li><li>Analyse and pricing of individual short tail single-risk accounts typically with complex features or high premium.</li><li>Conduct pricing reviews on accounts with high and extreme materiality to ensure that all accounts priced adheres to appropriate pricing review process as defined in Specialty Insurance Pricing Guidelines.</li><li>Provide pricing assistance to Reinsurance Treaty Team during busy periods (such as the 01-Jan renewal season) on various markets</li></ul><ul><li>Portfolio analysis, business planning, recalibration:</li><li>Contribute and manage the annual planning (profitability) review of portfolio (deep-dive) by considering combined ratios, rate levels, inflationary effects, and class of business mix for Specialty Insurance (including SCOR Syndicate).</li><li>Manage and contribute to the annual capital model parametrisation process (Underwriting / Premium Risk), which is concluded in conjunction with Group Risk Management, Capital Modelling Team, and Underwriters.</li><li>Development and maintenance of dashboards and various management information.</li></ul><ul><li>Reporting:</li><li>Contribute to various regulatory tasks such as the Lloyd’s Performance Management Data Return (PMDR), and board reports.</li><li>Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength (adequacy) against the long-term profitability targets.</li><li>Any other ad-hoc reporting requirements.</li></ul><ul><li>People Management:</li><li>no people management at the beginning</li><li>possibly manage a small team of Pricing analysts and/or Cat modellers within few months after the hiring if the situation evolves well as expected.</li></ul>QualificationsRequired experience &amp; competencies<ul><li>Experience:</li><li>Pricing experience in P&amp;C insurance is compulsory (if possible on large corporate risk or London Market)</li><li>Working knowledge of pricing ,capital modelling and reserving processes and techniques.</li><li>Strong analytical skills and ability to manipulate or handle large datasets.</li><li>Experience using R, Python, R-Shiny, or any other programming languages in commercial environment desirable but not compulsory.</li><li>Personal Competencies:</li><li>Highly motivated and driven individual with excellent analytical and problem-solving skills</li><li>Effective communication and collaboration skills with excellent interpersonal verbal and written skills that enables the candidate to communicate with colleagues from non-actuarial team</li><li>Strong organisational and time management skills required</li><li>Self-starting individual and excellent team player</li><li>Stays up to date with new/emerging knowledge in actuarial pricing as well as in respect of major market and underwriting related issues.</li><li>Has a commercial outlook but with a principled stand where required and contributes to create viable and innovative solutions that outperform competitors and differentiates SCOR.</li><li>Education</li><li>Nearly / Newly qualified actuary from a recognised actuarial organisation</li><li>Degree in Mathematics, Actuarial Science or any other scientific discipline (Statistics, Physics, etc.)</li></ul>About usSCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Leveraging experience and expertise to deliver “The Art &amp; Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – from Life &amp; Health and Property &amp; Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR’s success.

Experience

Sector

Hide closed jobs

Find Actuary & Actuarial Jobs in Sandton