Senior Consultant : Retail Product Development - RB

• Full-time

Key Performance Area Input (method used) Time Spent
1.
Product design
Ensuring product designed to meet TCF principles
Helping IT develop systems to administer products
Working with BD&E to ensure marketing teams develop correctly worded brochures, websites, etc
Reinsurance structures – ensure most efficient retention level set for each product
Conduct market research and perform competitor analysis to ensure our products are competitive
40%
Technical and Behavioral Competencies
2.
Product Pricing
Reviewing current product to ensure they meet the company’s profitability requirements
Conduct experience investigations to ensure experience is within acceptable ranges
Pricing new products
Coding of products into Prophet
Complete business cases
Setting up management tools for assessing viability and ongoing suitability of products
Investigate broker consultant queries
Conduct ad-hoc projects as needed
40%
3.
Product Formulation
Providing technical support to sales and marketing areas
Reinsurance retention investigations
Meeting with reinsurers
Adhoc calculations (e.g. commission calculations)
Manage data analysis and maintaining data integrity
Provide technical support to the claims and underwriting team
Make recommendations for improvements in all problem areas, systems and processes in team and across group risk operations
Setting targets and deadlines to achieve operational efficiency
20%
MCR and RDR

• Ensure that all calculations are sound and that products promises are delivered

• Calculating benefits and pricing to ensure products and services meet customer needs;
May identify unmet needs or innovative opportunities

• Writing clearly and timeously, relevant to the reader;
Billing in a clear unambiguous manner

• Ensuring complexity of actuarial calculations do not result in complexity for clients in understanding products or accessing benefits

• Compliance with relevant regulation

• Fulfills his/her duties in such a manner that the relevant MCR outcomes are delivered

• Constructively speaks up about any MCR short-coming in any part of the business

• Quickly owns up to any mistakes or oversights that he/she may be party to that may have negative MCR consequences
Technical Skills
Strong knowledge of life insurance principles
Strong Business acumen
Excellent oral & written communication skills
Ability to multi-task
Ability to collaborate across the organization
Be able to work in a matrix structure
Ability to anticipate and manage change
Innovative thinking and delivery
Behavioral (Interpersonal and Intrapersonal)
Professional and mature business attitude
Ability to manage expectations
Responsible & accountable
Resourceful problem solver
Effective communication
Team player
Quality, accuracy and detail orientation
Ability to interact with clients and peers at all levels
Cognitive Competencies
Ability to solve complex business problems
Ability to perform detailed mathematical calculations
Ability to analyze information and select best solution from a range of alternative solutions

Formal Qualifications
A 4 year degree with a major in mathematics, actuarial science or statistics
10 of the Actuarial Exams completed
Required Experience
3 – 5 years relevant experience in Life Insurance
Experience in individual life products is essential
Good knowledge of the insurance industry.
A sound mathematical knowledge is essential
Statistical knowledge will be advantageous
Proficiency in Excel and Prophet
Knowledge of Prophet and DCS will be an advantage.
Knowledge of SQL will be an advantage

For more information contact our office  or click "I"m interested"