Introduction
Metropolitan is one of the oldest financial services brands in South Africa. With a 125-year legacy of serving the communities in which it operates, Metropolitan represents true empowerment in serving Africa's people through affordable financial solutions that create financial growth and security. Metropolitan operates in South Africa, but the brand is also present in 7 African countries including, Namibia, Botswana, Kenya, Ghana and Lesotho. Metropolitan provides financial wellness solutions that meet the needs of low-income clients, including funeral insurance, health, savings, hospital cash-back cover, retirement solutions and life insurance. www.metropolitan.co.za
Disclaimer
As an applicant, please verify the legitimacy of this job advert on our company career page.
Role Purpose
Manage an actuarial team within an area of expertise, to ensure the effective development and management of competitive Investment and Saving solutions that address specific client needs to enhance our client value proposition across segments. This extends to all aspects of client experience across the various sales and service channels that clients engage with. The Investment and Saving Solutions team is responsible for, but not limited to, the following solutions: endowments, tax-free savings plans, retirement annuities, preservation fund plans and retirement income solutions (i.e. life annuities).
Requirements
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Degree in Actuarial Sciences, Statistical Analysis, Mathematics, or related field
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Qualified Actuary (FASSA/FIA/etc.)
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Knowledge on actuarial modelling and statistical analysis techniques
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3 to 5 years’ actuarial work experience
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2 to 3 years' experience in the financial services or insurance industry (desirable)
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1 to 2 years' people management experience (desirable)
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Product development or pricing experience preferred
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Proficient in MS Office Packages (MS Outlook, MS Word, MS PowerPoint, MS Excel)
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Experience in the following will be an advantage:
- RiskAgility Financial Modeler (like Moses)
- Prophet
- SQL
- VBA
Duties & Responsibilities
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Perform and/or review experience investigations, modelling and data analysis using specialised software to develop new investment and saving solutions and monitor experience on existing investment and saving solutions.
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Develop, maintain and/or review pricing models and bases. Prepare product health and governance reports and present insights derived from analyses, to support decision-making and inform appropriate actions through various options and scenarios.
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Analyse product related data from various sources to assess completeness and accuracy, identifying potential errors and irregularities, to ensure accuracy of client and product insights and analysis.
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Conduct relevant research to inform pricing and design assumptions, projections and advice provided to the business, and to develop own expert opinion.
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Source and analyse competitor investment and saving products to provide insight into product design and pricing models.
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Contribute to continuous innovation in investment and saving solution design and processes through the development, sharing and implementation of new ideas.
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Provide technical actuarial support to the Investment and Saving Solutions team and other relevant business areas to support various initiatives.
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Ensure technical product and legislative, regulatory and compliance knowledge are always current to propose the most relevant and innovative client solutions and comply with governance requirements.
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Build and maintain relationships with various internal and external stakeholders, such as IT, distribution, legal, service, claims, asset management and valuations.
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Develop and maintain productive and collaborative working relationships with peers, clients, and stakeholders.
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Make recommendations to improve client service and fair treatment of clients on investment and saving solutions.
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Positively influence and participate in change initiatives.
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Identify solutions to enhance cost effectiveness and increase operational efficiency of investment and saving solutions.
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Provide input into the risk identification and mitigation processes and communicate recommendations in the appropriate forums.
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Continuously develop own expertise in terms of professional, industry and legislation knowledge.
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Take ownership for driving own career development and guiding that of actuarial team members.
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Effectively manage time and ensure optimal productivity.
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Be self-confident, self-motivated, and relentlessly pursue targets and goals.
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Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.
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Create a positive work climate and culture to energise employees, give meaning to work, minimise work disruption and maximise employee productivity.
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Demonstrate exemplary leadership behaviour, through personal involvement, commitment and dedication in support of organisational values.
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Select and recruit suitably qualified talent in line with Employment Equity principles and MMH values.
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Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness.
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Enable a learning and growth culture whereby information regarding successes, issues, trends and ideas are actively shared between team members.
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Execute effective workforce planning practices to ensure that staffing requirements are accurately forecasted.
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Identify employee growth and development needs and schedule interventions to enable ongoing development, training and personal growth.
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Effectively manage performance within the team in order to ensure business objectives are achieved.
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Encourage innovation, change agility and collaboration within the team.
Competencies
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Passion to make a difference in the lives of people in the low to middle income markets
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Extracting insights from data analysis
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Have an ability to work accurately and with an attention to detail
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Be versatile and open to learning opportunities
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Be willing to share learnings and experience with peers
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Be willing to mentor and grow actuarial students
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Strong written and verbal communication skills
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Naturally inquisitive mind-set, with a strong innovative tendency
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Team player and ability to work with a diverse group of people
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Be willing to demonstrate ethical leadership in challenging circumstances
