Who are we?
At SanlamAllianz, we are proud of being the largest Pan-African, non-banking financial services organization on the continent. Our dynamic operations span across 27 African countries (excluding South Africa), and our business is focused on life insurance, general insurance, retail credit, health, bancassurance, and asset management. Our core values - Innovation, Care, Integrity and Collaboration - guide our vision of distinguishing ourselves as the most admired financial services group in Africa. We nurture a high-performance, energising and engaging culture. Why? Because we, as employees of SanlamAllianz, understand the importance of feeling cared for, empowered, challenged to produce our best work and live with confidence.
The successful candidate will be responsible for providing product development and management support for selected Life Insurance businesses in SanlamAllianz.
A major part of the role will entail understanding business’s local way of work, regulations and commercial considerations. Requiring the candidate to build strong relationships with teams in the SanlamAllianz businesses to develop a product strategy and to drive the implementation of the product strategy that will empower strong commercial growth and promote policyholder value. The candidate will need to work closely with senior management from businesses, valuation teams, SanlamAllianz Modelling team and Head of Actuarial Function to ensure the requirements of various stakeholders are considered and appropriately addressed.
In particular the responsibilities of the role include:
- Forecasts and analysis to influence business strategy – for example forecasting business growth, optimising commission structures.
- Product design and pricing
- Implementing sound product governance processes
- Upskilling local actuarial staff on Prophet and SanlamAllianz methodologies and standards
The aspects of product design and pricing will entail:
- Pricing – Determining appropriate pricing basis and running pricing calculations using Prophet on local GAAP and IFRS17 accounting standards
- Prophet modelling – Developing new Prophet models and incorporating product features from specification documents into Prophet models
- Documentation – Writing pricing reports clearly documenting the pricing process, assumptions and results.
- Drive pricing approvals – Engaging a wide range of stakeholders, including the Head of Actuarial function, to ensure an efficient approval process.
- Model handover - Supporting the Actuarial valuations and Prophet model development teams with the model implementation of new products.
What will make you successful in this role?
Success in this role will be measured by the candidate’s ability to:
- A willingness to learn;
- Deliver and develop accurate product design and pricing solutions;
- Ability to deliver within prescribed timelines;
- Solve problems that are encountered during the pricing process;
- Engage various internal teams to gather information;
- Prioritise deliverables and manage expectations of various stakeholders to ensure SanlamAllianz Life’s strategic product objectives are met.
Qualification and Experience
- Qualified actuary or nearly qualified actuary (maximum 2 exams outstanding)
- Experience in Life insurance is essential
- Prophet experience is essential
- Product development, pricing and/or valuation experience preferable
- Problem solving skills
- Strong analytical and conceptual thinking
- Ability to manage complexity
- Ability to work independently, take initiative and meet deadlines
- Good verbal and written communication skills to manage relationships with business stakeholders
Build a successful career with us
We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.
The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.
Our commitment to transformation
The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are the key components to ensure a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.
