Actuarial Analyst

The Actuarial Analyst has responsibility for routine actuarial calculations using Axis, Excel and other tools to support the delivery of the department’s objectives.

JOB OVERVIEW:

The Actuarial Analyst has responsibility for routine actuarial calculations using Axis, Excel and other tools to support the delivery of the department’s objectives.  The Analyst will also be required to work on ad hoc projects with supervision from the Senior Actuarial Analyst / Manager.

JOB RESPONSIBILITIES:  
1. Valuation, Pricing & Product Development, Reinsurance:
• Produce the monthly reserve reports using Axis, Excel and other models.
• Produce comprehensive analyses of reserve movements over the period.
• Develop and design queries to extract valuation output for internal and external reporting purposes, including the assessment of the entities’ capital adequacy position.
• Implement model changes as instructed by the Manager including documentation and validation of those changes.
• Conduct Asset modelling including valuation of bonds and derivation of interest rate vectors for use in the valuation of policy liabilities.
• Perform investigations of the company’s mortality, lapse, expense, premium persistency, critical illness and annuitant mortality experience
• Develop Axis, Excel and other models in order to price new or amended products.
• Produce product profitability reports.
• Update / modify quotation systems.
• Perform pricing for special cases.
• Produce projections for use in the company’s annual budgeting exercise.
• Generate Reinsurance billings for Individual and Group Life and forward to all reinsurers monthly.
• Administer quarterly reinsurance payments on a timely and accurate basis. Produce Reinsurance management Reports.
• Resolve exception reports identifying incomplete or inaccurate data relating to reinsurance billings. Reconciliation of all reinsurance accounts (Oracle and TAI).
• Document all Treaty amendments.
• Perform Retention Studies by line of business.
• Prepare catastrophe cover analysis of amount of cover.
• Review special Reinsurance rates and their application in our Reinsurance Administrative System TAI.
• To develop an understanding of the company's re-insurance treaties and develop relationships with reinsurers by performing Reinsurance Administration duties.  

2. Monitoring:
• Prepare individual policy calculations within agreed timelines whilst maintaining the highest standard of accuracy. 
• Provide advice on technical issues related to products.

3. Miscellaneous duties: 
• Assisting in miscellaneous duties as assigned by the VP/Senior Manager/Manager.
• Participating fully in all departmental meetings.
• Liaising with departments across the GHL Group to assist in the synchronization of addressing common Group-wide risks and tasks.

4. To successfully pursue Actuarial Examination to qualify as an Associate within four years of joining the department.

5. To perform any other duties assigned by the Senior Manager and Vice President.
                 
EDUCATION AND EXPERIENCE: 
• First Degree in Actuarial Science, Mathematics, Statistics, or a related field from a recognized tertiary level institution.
• Aspiring student of the Society of Actuaries, Institute & Faculty of Actuaries, or an equivalent association.
• 1 - 3 years’ experience in a similar role with a minimum of one (1) year in the Life Insurance Industry.
• Basic knowledge of relevant corporate issues, legislation, actuarial standards and processes.
• Working knowledge of insurance administration systems and products.

ADDITIONAL REQUIREMENT:
As a regulated entity with obligations under the Know Your Employee guidelines, a Certificate of Character is required.

PERSON SPECIFICATION: 
The Actuarial Analyst must be self-motivated, demonstrating the ability to use his/her initiative to acquire job knowledge and solve problems. He/she must be meticulous, thorough, logical and an excellent team player. He / she must communicate clearly and be courteous in dealing with all stakeholders.  The incumbent must be organized and be able to manage time and resources effectively to successfully balance work and study requirements.

Applications will be treated with the utmost confidentiality.