| JOB NAME |
Actuarial Analyst: Short Term & Life Division, Land Bank Insurance Company [Centurion]
POSTED BY: Land & Agricultural Development Bank
REF:LBAF 81
Date Published:Wednesday, August 10, 2022
Date of Expiration:Monday, February 6, 2023 EXPIRED
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| LOCATION OF THIS JOB |
 South Africa | CENTURION in South Africa |
| INDUSTRY |
| DEVELOPMENT FINANCE INSTITUTIONS
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| JOB TYPE |
| Full-Time |
| MAIN JOB DESCRIPTION |
Closing Date, 2022/08/17
Reference Number, LAN220803-1
Job Title, Actuarial Analyst: Short Term & Life
Division, Land Bank Insurance Company [Centurion]
Unit, LBIC
Job Type Classification, Permanent
Location - Country, South Africa
Location - Province, Gauteng
Location - Town / City, Centurion
MAIN PURPOSE OF THE JOB
1. The role of the Actuarial Analyst is to source, clean, consolidate and analyse data by using proven actuarial models to come up with a technical solutions to charge for the insurance risks and product development of the company.
2. Part of the function is to maintain and update the actuarial models/methods used in the company.
3. This analyst will report to the Actuarial Manager of LBIC/ LBLIC.
KEY PERFORMANCE AREAS,
Actuarial Capital Management & Assessment
1) Develop valuations and cash flow models
2) Developo capital management models
3) Develop the implementation plan of SAM (Solvency Assessments and Management)
4) Crafting of the ORSA report and scenario and stress testing
5) Board and Manco reporting
Product development, Pricing and Actuarial Performance Review
1) Perform product profitability analysis and propose remedial action where necessary
2) Review and enhance existing products
3) Develop new and innovative products
Source and Consolidate Data for Analysis
1) Collate data from sources like claims, annual reports of competitors, FSB filings, Reinsurer reports etc.
2) Integrate data from other sources to inform the models
3) Input data to reserve tables accurately
4) Compare Pricing data and actuarial portfolio performance
Profitability Management
1) Ensure product pricing is accurate and adequate
2) Perform claims and loss ratio analysis
3) Develop of underwriting guidelines and procedures
4) Assist in developing an optimal reinsurance structure
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| REQUIREMENTS FOR THIS JOB |
PREFERRED MINIMUM EDUCATION AND EXPERIENCE-
1) Relevant 4 year qualification in Actuarial Science or Mathematical Statistics
2) At least 3 actuarial exemptions
3) 1-3years experience in Life insurance product development and pricing and valuations
Critical Competencies-
1) Knowledge of Actuarial Software’s (SAS, Prophet, VBA and SQL)
2) Advanced Microsoft Office
3) Actuarial Methodologies - Knowledge and understanding of the principles, regulations and legislation pertaining to acceptable actuarial policies
4) Ability to understand Financial Statement
5) Accounting Ratios
ADDITIONAL REQUIREMENTS-
1) Travel as and when required
2) Extended hours as and when required
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English 
FRENCH
