Junior Actuarial Analyst | Johannesburg
Join this leading insurer as a Junior Actuarial Analyst at their Gauteng offices.
The successful candidate will provide support to senior analysts and managers within the company’s Actuarial team. Use statistical models to analyze data and calculate the probability of and costs associated with certain events.
Data Collection & Analysis
Produce accurate reports for others by collecting data from a variety of standard sources and inputting it into standard formats. Extract and verify data used for actuarial models. Reconcile data/information against credible data sources (for example financials) to ensure the data is complete and accurate. Before data is used for analysis/ modeling, review and acquire signed-off from the Technical Manager.
Assist in developing actuarial models and processes. Models to be fit for purpose and able to estimate the reality accurately. Regularly monitor Models to ensure model performance.
Insights and Reporting
Extract and combine data to generate standard reports. Provide an ecosystem where data and data analysis is nimble and easy to access within the business.
Ensure monitoring is accurate and complete and regularly validated against credible data sources. Review results on a regular basis and monitor against actuals across brands and distribution channels within the business.
Model Deployment and Testing
Develop the monitoring processes to measure the performance of the model/ pricing under the guidance of the technical manager.
Improvement / Innovation
Support others by implementing improvements and carrying out simple change management tasks. Ensure data processes are continuously maintained and kept up to date.
Develop knowledge and understanding of the organization's policies and procedures and of relevant regulatory codes and codes of conduct to ensure own work adheres to those standards. Obtain authorization from a supervisor or manager for any exceptions from mandatory procedure. Maintain standards of integrity and professionalism as set out by the Actuarial Society of South Africa.
Personal Capability Building
Develop and maintain excellent process or technical skills by participating in assessment and development planning activities as well as formal and informal training and coaching.
TECHNICAL COMPETENCIES Computer skills
Support business processes with guidance but not constant supervision by understanding and effectively using standard office equipment and standard software packages.
Actuarial and statistical software; Advanced Microsoft Office..
Apply elementary concepts of knowledge / skill to develop activities assigned under supervision.
Work under supervision at an elementary level to acquire, organize, protect and process data to fulfill business objectives.
Work under supervision at an elementary level to develop financial and economic models for planning and monitoring purposes.
Use an understanding of numerical concepts to perform mathematical operations such as report analysis with guidance.
Strong background in mathematics and statistics.
Data Collection and analysis
Work under guidance to analyze data trends for use in reports to help guide decision making.
Use clear and effective writing skills with guidance to express ideas, request actions and formulate plans or policies.
Use clear and effective verbal communication skills with guidance to express ideas, request actions and formulate plans or policies.
Communicate with other people at an elementary level under supervision by speaking in a clear, concise and compelling manner.
Work under supervision at an elementary level to analyze data from multiple sources to draw appropriate conclusions and make suitable recommendations.
Works with guidance to support schedules using appropriate analytical processes and procedures.
Work with guidance to achieve full compliance with applicable rules and regulations in management and/or operations.
Actuarial Society of South Africa.
Work under supervision at an elementary level to develop appropriate plans or perform necessary actions based on recommendations and requirements.
Planning and Organizing
Work under supervision at an elementary level to plan, organize, prioritize and oversee activities to efficiently meet business objectives.
Bachelors / Honours degree in Actuarial Science or similar (Essential)
Making good progression toward Actuarial qualification (Essential)
Actuarial Graduate from university or an individual with less than 2 years work experience outside of the Short Term Insurance environment (Essential)