Senior Actuarial Analyst (Contract)

Location: Fourways, Johannesburg

Ref: LRF21036

Type: Contract

Industry: Financial

Opportunity for an Actuarial Analyst to join an established IT and Financial Consulting firm which operates within the banking, finance and insurance sector, on a contract basis.

This role is a remote work opportunity.

The ideal candidate will have a mathematics qualification and being actuarily qualified will be an advantage, advanced MS Excel skills, VBA, financial and system analysis experience.

This consulting firm leverages the collective experience and skills of their employees and strategic partners to provide bespoke data-related products and services to the Financial Services Industry. With extensive Banking, Finance, and Insurance experience across three continents, they specialize in Risk Management, Regulatory Reporting and Information Management.

Scope of Services

The Services shall include the following:

Data Manipulation skills

  • Collate the various sources of data relevant for completion of the CBR, working with the respective data owners and experts.
  • Work with various business owners to build the different Management Information ("MI") in the format required for the CBR and help embed these in the respective business areas.
  • Help define business rules for the different data types where there is ambiguity, such as Not Taken Ups ("NTU's"), Replacements, etc., working with the Business Analysts on the project.
  • Apply judgment and business knowledge where applicable, always striving for excellence and not perfection, for a sensible outcome.

Documentation

  • Drive documentation of how the CBR has been completed, which will feed into development of longer-term solutions, and minimise operational risk in the process.
  • Keep the rest of the project team in the loop on progress made and direction taken, to avoid duplication and wastage of effort.
  • Build consistency checks with other similar data/information that gets submitted to the FSCA or the Prudential Authority.

Data Analytics skills

  • Check for internal consistencies, reasonability, and analyse what "story" the CBR is telling, prior to submission to the regulator.

Summary of types of data required

  • Policies in force (count and annual premium)
  • New Policies (count and annual premium)
  • Policy movements
  • NTU's
  • Paid Ups
  • Lapses
  • Surrenders
  • Maturities
  • Cancellations
  • Cooling offs
  • Cancelled by policyholders
  • Cancelled by Insurer
  • Claims
  • Commissions, Binder Fees and Profit shares, and other Distribution related fees
  • Benefits (in force and movements)
  • Advertising spends
  • Where applicable the data must be split by:
    • Product and Benefit type grouping, as per CBR mapping
    • Target Market (defined by bucketing the Age at entry of the policyholders)
    • Distribution Channel

 Service Levels

  • The Conduct of Business Return must be completed timeously and accurately, and ready for submission at the specified submission deadlines set out by the Financial Sector Conduct Authority ("FSCA"), which are 30 days after the end of the first quarter (30 April 2021), starting with Q1 2021.
  • In the lead up to this deadline, the CBR must be submitted on a best effort basis at the FSCA specified timelines.
  • The accuracy of the submission will be assessed against other existing sources of similar reports being produced across the business (e.g. financial accounting records, Prudential Authority annual submissions, other management information), and signed off by the relevant Subject Matter
  • Experts (SME's) and accountable parties.

Qualifications

  • Actuary, or
  • Degree in mathematics

Experience

  • 5+ years’ experience in similar or related role
  • Financial Analysis experience preferred
  • Preferred sector experience: Financial Services, IT, Asset Management
  • Financial modelling and automation experience

Key skills

  • Advanced MS Excel skills
  • Knowledge of VBA
  • SQL will be an advantage bot not required
  • Good written and oral communication
  • Ability to work in a team, but also independently
  • Excellent analytical and numerical abilities
  • Attention to detail
  • A “can-do” attitude
  • Multi-tasking

Salary

  • R600 to R700 per hour, depending on experience and qualification

 

HOW TO APPLY 

  • Ensure you meet all the requirements
  • Complete all the requested information below
  • Remember to attach your CV
  • Once your application has been made, you will receive a generic e-mail to confirm the receipt of your application
  • Only short-listed  candidates will be contacted
  • Should you not be contacted by a consultant within 2 weeks, please consider your application as unsuccessful.