Our client is a holistic financial services company specialising in bespoke financial solutions. They are looking for a pricing specialist to join their Product Development team. The main purpose of the role is to own and maintain the Company’s risk product pricing models and to ensure that pricing of new products or enhancements to existing products are actuarially sound. 

Candidates who are interested should be a Qualified Actuary with at least 5 years’ experience in product development, pricing or reinsurance. You should pay attention to detail, and have knowledge of actuarial principles, retail insurance products and the financial services industry. You should have excellent verbal and written communication and administration skills. You should be proficient in the use of Prophet Actuarial modelling software and should have SQL skills. 

Responsibilities will include: 

• Developing and maintaining actuarial pricing models for existing products and future product enhancements using actuarial modelling software (Prophet). 

• Conducting pricing exercises as and when new products are introduced or with regard to enhancements to existing products, using actuarial modelling techniques and Prophet. 

• Determining appropriate pricing assumptions for new product enhancements, with the support of the Product Development team, and performing sensitivity testing on these assumptions. 

• Analysing company data and experience to support pricing assumptions and the broader business in making decisions. 

• Monitoring pricing basis for existing products to assess appropriateness of assumptions. 

• Proposing changes to pricing basis based on emerging experience and engaging with Corporate Actuarial Function to align the valuation basis with the pricing basis, where appropriate. 

• In-depth monitoring of claims trends and reporting of insights to the regular Claims Committee meeting. 

• Providing actuarial support to various other areas, and the broader business, e.g. Technical Marketing, IT-related investigations, testing support, etc. 

• Aligning the Company’s actuarial functions with published ASSA Guidance notes and other regulatory requirements. 

For more information, please contact Henda ([email protected] or +27 (0)83 603 2961).