Job Classification REQ: 133359 - Refilwe Falatsi Closing Date: 5 July 2024 Division: Nedbank Insurance | CSA Employment Equity Statement: Preference will be given to individuals from underrepresented groups.  Job Family

Risk, Audit & Compliance

Career Stream

Actuarial

Leadership Pipeline

Manage Self Technical

FAIS Affected Job Purpose

To take responsibility and manage the performance of new business written by Nedbank Insurance under its MyCover Personal Lines product. To assist with new product concepts that will be developed in collaboration with Distribution, Client Experience and Underwriting teams. 

Job Responsibilities

•    Develop and implement new business pricing models for all sections of our personal lines business using the Willis Towers Watson suite of software.
•    Monitor and review claims experience within the portfolio to ensure business profitability targets to met.
•    Monitor and review lapse experience within the portfolio to ensure better persistency.
•    Help produce monthly reporting packs for DIVCO and INEXCO based on automated dashboards that provide detail for a helicopter view of product KPIs.
•    Assist with producing quarterly reporting packs for the Actuarial Control Committee (ACC) and Client Centricity Committee (CCC).
•    Assist with compiling product reviews / deep dives on concerns that may be highlighted by the product dashboards and presented to the ACC.
•    Engage with Distribution, Client Experience, Underwriting and reinsurers in the new development and pricing of new products and product enhancements.
•    Engage with Distribution, Client Experience and Operations to streamline processes and ensure all areas are working effectively in maximising the client value while ensuring product profitability to make the portfolio commercially viable.
•    Engage with the system developers to ensure any system changes and additions identified are implemented.
•    Review and update product registers, pricing policies, underwriting manual, policy documentation, market material and other product collateral as required by regulation or business from time to time.
•    Assist with market research and data analytics as required. 

People Specification Essential Qualifications - NQF Level Advanced Diplomas/National 1st Degrees Preferred Qualification

Bachelor of Commerce or Bachelor of Science in Actuarial Science with good progress towards qualifying as an Actuary (at least 8 exams).
 

Minimum Experience Level

A minimum of 3 years' Actuarial experience in product development and pricing in the Non-Life Insurance personal lines industry. 
A pass in subject F103 and/or F203 will be preferred.

Preferred Skills: 

 Analytical problem solving. Independent worker. SQL Willis Towers Watson – Radar, Emblem R Microsoft Office Technical / Professional Knowledge Business principles Business terms and definitions Governance, Risk and Controls Data analysis Relevant software and systems knowledge Banking knowledge Insurance Strategic Analysis Behavioural Competencies Technical/Professional Knowledge and Skills Quality Orientation Decision Making Influencing Monitoring Information Innovation

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Please contact the Nedbank Recruiting Team - Refilwe Falatsi