Pricing Actuary

Hire Resolve

Gauteng
Permanent
Full-time

1 month ago

Job Summary Job Specification: Pricing ActuaryPosition Overview:We are seeking an experienced and highly analytical Pricing Actuary to join our dynamic team. The Pricing Actuary will be responsible for utilising actuarial principles and mathematical models to determine appropriate pricing structures for insurance products. The ideal candidate will possess strong mathematical and statistical skills, excellent attention to detail, and the ability to effectively communicate complex concepts to non-technical stakeholders.Key Responsibilities:

Develop and maintain pricing models: Create and enhance actuarial pricing models to accurately determine the cost and profitability of insurance products. Incorporate relevant data, industry trends, and risk factors to ensure pricing structures are effective and competitive.
Conduct pricing analysis: Analyze historical and current data to assess the performance and profitability of existing insurance products. Identify areas for improvement and recommend pricing adjustments to maximize profitability while maintaining adequate risk coverage.
Collaborate with underwriting teams: Collaborate closely with underwriters and other stakeholders to understand market conditions, product objectives, and risk appetite. Incorporate underwriting guidelines and restrictions into pricing models to ensure alignment between pricing and risk management strategies.
Monitor market and industry trends: Stay up-to-date with market dynamics, competitor pricing strategies, and regulatory changes. Proactively identify emerging risks and opportunities and adjust pricing models accordingly to maintain competitiveness in the market.
Develop pricing strategies: Work closely with senior management to develop pricing strategies that align with overall business objectives. Provide recommendations on pricing changes, new product development, and entering new markets based on extensive analysis and understanding of the market landscape.
Assist in rate filing and compliance: Collaborate with regulatory teams to ensure pricing models and strategies comply with applicable laws and regulations. Provide necessary documentation and support for rate filings and respond to regulatory inquiries as needed.

Qualifications:

Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field. Advanced degree is a plus.
Qualified Actuary (FIA, FSA, FCAS, etc.) or significant progress towards attaining actuarial qualifications.
Minimum of 5 years of experience in pricing actuarial roles within the insurance industry.
Proficient in actuarial software and modeling tools (e.g., Excel, SAS, R, Python) and experience with pricing software is a plus.
Strong analytical and mathematical skills, with the ability to manipulate complex data sets and perform statistical analysis.
Excellent understanding of actuarial pricing principles, risk management, and insurance products.
Deep knowledge of insurance industry trends, including emerging risks and regulatory requirements.
Strong verbal and written communication skills, with the ability to present complex concepts to both technical and non-technical stakeholders.
Attention to detail and strong problem-solving abilities.
Ability to work both independently and collaboratively in a fast-paced environment.

Hire ResolveIT/ComputerRecruiterAboutSpecialists in Civil, Structural, Mechanical Engineering, Information Technology, Mining, Manufacturing and Finance Careers! Hire Resolve is one of the larger and more agile South African recruitment companies that focus on placing professionals and skilled people in permanent employment and contract employment. We prefer and focus on working with top quality professionals and candidates in South Africa and Africa. Hire Resolve has successfully placed Engineering, Mining, IT, Manufacturing and Finance professionals with top firms across the Western Cape, Eastern Cape, KwaZulu Natal, Gauteng and in Africa. Hire Resolve has assisted candidates to find jobs at over 100 JSE listed companies of which many are global companies with offices and operations in South Africa and Africa. It is for this reason that we are well respected in the industries we operate in and in the recruitment industry.

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