Nedgroup Life, a niche insurer providing a suite of fully underwritten, Banc assurance and Investment solutions to the market, is continuing to expand after the successful launch of 360Life our flagship fully underwritten product. We are looking to expand our investment range to offer a fully comprehensive investment solution and will therefore require extra resources in the delivery of this strategy. We currently offer simple savings and secure investment products. The role will support the ongoing maintenance of our current products and be involved in developing our new investment solution.
Nedgroup Life operates out of the prestigious Umhlanga Ridge business park, and consistent with its core philosophy, encourages a work – life balance. There are opportunities to add value and grow in an exciting and diverse environment. Whether you are straight out of University or nearly qualified you can rest assured that Nedgroup Life will support you in your personal development endeavours.Roles and Responsibilities:
The chosen candidate will be expected to support the Product Actuarial Investments area.. . You will be responsible for all aspects of the product development cycle for the Investments product range, including the introduction of enhancements to remain at the forefront of this market, as well implement a review methodology that enables us to objectively manage the emerging experience and price/design accordingly. You will be expected to engage actively with the market providing support to our distribution channels in the achievement of their objectives. Some of the key areas of focus will include:
- Collecting and analysing data on our current products as part of the actuarial control cycle. Reporting on key findings and providing recommendations.
- Included in the above, is a regular review of the experience of the customer segment, and a quantification of how assumptions compare to actual experience. This can have a material impact on the pricing of the products that Nedgroup Life offers, as well as the success of any growth plans
- Dealing with queries from clients and the distribution channels. You will have to have a complete understanding of the workings of our products and their terms and conditions in order to answer the queries that arise from time to time.
- Modelling the pricing of our new products proposed.
- Calculating unit prices, surrenders and pricing rate-based secured investment products on a weekly basis.
- Overall ensuring the Investment business of Nedgroup Life runs efficiently, profitably and offers great service to all stakeholders.
- Be registered with the Actuarial Society of South Africa, and completed a recognised degree in pursuit of an Actuarial Qualification
- There is no work experience requirement although candidates with relevant experience will be preferred.
- Highly numerate, excelling in mathematical subjects at school and university
- Must be fully computer literate and have advanced Excel skills
- Performance driven, including an ability to work under pressure especially where tight deadlines exist
- Effective communication skills and ability to communicate at various levels within an organisation
- Self- motivated and enthusiastic, being able to work within a team structure as well as independently as required