Momentum Corporate invites unemployed graduates to apply for Actuarial Product Specialist X2 (Graduate) Permanent Position.
Location: Cape Town, Western Cape, South Africa
Job Type: Graduate Job (Permanent)
Closing Date: 20 February 2025
Role Purpose:
The above-mentioned position is currently available in the Structured Solutions team. The candidate will join the ‘Structured Solutions’ team and be co-responsible for the management of retail discretionary participation business. The candidate may also assist with the development and management of corporate structured and/or guaranteed investments.
Duties and Responsibilities:
The incumbent will be co-responsible for the following;-
- Ongoing management of retail discretionary participation business, including but not limited to the oversight, evaluation and projection of assets and liabilities;
- Identifying improvements to the discretionary participation book or the management thereof, including obtaining approval for the changes from the various governance forums;
- Assisting in the development of corporate structured and/or guaranteed investments including conducting the necessary quantitative analysis, solution research, stakeholder engagement, compiling detailed product specifications and preparation of product approval documents for the various governance forums;
- Reviewing and proposing changes to discretionary participation business management actions;
- Recommendation of bonus rates (interim, final, claim, reversionary or terminal where applicable) for discretionary participation business;
- Review and update of the bonus philosophy which may require creating new bonus smoothing formulae;
- Building, updating or reviewing appropriate models in order to quantify financial impacts appropriately;
- Reviewing and proposing changes to the segment Principles and Practices of Financial Management (PPFM);
- Managing the implementation of statutory and contractual requirements for retail discretionary participation business;
- Mitigating financial, legal, reputational and other pertinent retail discretionary participation business risks by ensuring administration systems are continuously rigorously tested for adherence to contractual obligations;
- Mitigating operational risks by adding a layer of governance to manual processes inherent within retail discretionary participation business;
- Reviewing legal documentation (for example, client contracts, counterparty agreements, etc.);
- Actuarial, compliance and performance reporting for retail discretionary participation business;
- Establishing and maintaining strong relationships with various internal and external stakeholders and assisting them in analysing, supplying and translating information on retail discretionary participation business;
- Driving projects to completion within stipulated timelines;
- Undertaking ad-hoc actuarial tasks including the resolution of technical queries.
Requirements:
- Actuarial Science degree preferred but not critical;
- Having passed at least six Core Principles (‘A100 & A200’) actuarial subjects;
- Advanced knowledge of SQL and VBA will be advantageous;
- Good knowledge of discretionary participation business as well as structured and/or guaranteed investments;
Competencies:
- Ability to work accurately under pressure;
- High attention to detail and quality orientation;
- Strong analytical and problem solving skills;
- Good written and verbal communication skills;
- Good time management skills; and
- Ability to work in a team as well as independently.
How to Apply for Momentum Corporate: Actuarial Product Specialist X2 (Graduate)
Click here to apply online for Actuarial Product Specialist Graduate Permanent Position
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