Actuarial Analyst

Date: 28 Jan 2025

Location:

Midrand, Gauteng, ZA

Company: Sanlam Group

Who are we?

At MiWay, our purpose is to enable people to live their way. We understand that life is not just about "things" but the meaning that those things bring to your life. We believe that technology and innovation have infinite possibilities when it's inspired by humans by you.

Therefore, we focus on our clients' needs; finding new ways to simplify their lives and how they do things.

We give them products, services, and solutions that enable them to live and enjoy life on their own terms – in their own way.

Agile values and principles are strongly embedded in our culture, and they are at the core of how we make decisions and how we approach adding value within the company.

What will you do?

An exciting new opportunity exists in the MiWay Actuarial team. We are continuously looking to enhance the way we quantify risk, price and design our products.

Come join the team and be part of the challenge.

Minimum Qualification Required

Bachelors degree in Actuarial Science, Pure/Applied Mathematics or related field

Minimum Experience

A minimum of 2 year's experience in short-term insurance pricing

Deliverables include, but will not be limited to

Develop, implement, and maintain models used in lifetime value (LTV) calculations and pricing optimisation.
Ensure models are accurate, efficient, and aligned with business objectives.
Oversee and maintain processes for renewal and new business optimisation, ensuring alignment with pricing strategies.
Establish and regularly review assumptions used in LTV calculations and optimisation processes.
Perform accurate LTV calculations to support renewal strategy and profitability analysis
Maintain and refine the discount algorithm to ensure competitive yet profitable pricing strategies.
Collborate with and provide technical support to various teams within the Client ervices department, assisting with actuarial insights and data-driven recommendations.

Competencies Required

Strong analytical and critical-thinking skills, coupled with a curious mind.
Exceptional attention to detail and accuracy.
A passion for driving meaningful change within the business
Resilience and the ability to manage conflict, understanding that change may not always be embraced by all stakeholders
Technical proficiency in tools such as SQL, Oracle, Python, R, and Excel (highly advantageous).
Agile mindset, with a willingness to adapt to changing business priorities.
Ability to work effectively both independently and within a team environment

Knowledge and Skills

Actuarial Problem Solving

Issues management

Attention to detail and accuracy

Personal Attributes

Self-development - Contributing independently

Interpersonal savvy - Contributing independently

Nimble learning - Contributing independently

Tech savvy - Contributing independently

Core Competencies

Cultivates innovation - Contributing independently

Customer focus - Contributing independently

Drives results - Contributing independently

Collaborates - Contributing independently

Being resilient - Contributing independently

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.

Turnaround time

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

At MiWay we believe in cultivating a positive and dynamic working environment that gives you freedom and opportunity to succeed. MiWay is committed to transformation and embracing diversity. This is what drives us to achieve a multicultural workplace with employment equity as a key goal to create an inclusive workforce, reflective of the demographics of our society.