Our client is looking for an actuarial contractor to support the Savings & Income (S&I) product team during a critical transition phase in the delivery, optimisation, and ongoing product development of Retail Savings and Income propositions. This new product range provides a complete suite of savings wrappers and annuity options to customers in the client's Personal Finance market.

This role is required to provide specialist support across key deliverables including, but not limited to, data management, stakeholder queries and resolution, servicing and production support, calculations and system testing, BAU process design, development, and reporting. It is suited to a professional who is creative, technically strong, proactive, deadline-driven, and self-reliant.

This is a full-capacity role based in Cape Town and requires 3 days on-site per week.

Key Areas of Responsibility

1. Data Management

• Work with large data sets, including data checks and validations.
• Transform raw data into usable formats for various business requirements.
• Analyse data and make reasonable deductions.
• Interrogate data and AI-driven output.
• Self-explore using various tools such as Excel, SQL, and Python.

2. Stakeholder Queries and Resolution

• Field product-related or actuarial questions from various stakeholders, including advisers and customers.
• Prioritise queries according to their nature, level of importance, and associated business risk.
• Ensure quick turnaround times with precise and high-quality feedback.
• Communicate clearly and accurately, with supporting evidence when needed.

3. Production and Servicing Support

• Provide guidance to servicing agents when there is a knowledge or training gap.
• Provide product support to prevent delays in customer service or defect resolution.
• Demonstrate comfort in using the Policy Administration System to conduct deep dives and investigations where needed.
• Know how to log a production incident for policies requiring data fixes.
• Take responsibility for ensuring that production incidents are resolved timeously to avoid reputational and regulatory risks.
• Ensure accuracy and actuarial oversight over IT implementation.

4. Calculations and System Testing

• Build tools or models to assist with actuarial, fund-related, or tax testing.
• Use models to validate amounts on the new Policy Administration System to close production incidents, identify and close new defects, or support business-related requests.
• Maintain and enhance models and tools to create efficiencies.
• Cross-check databases against system and accounting information to ensure consistent and accurate reporting.
• Assist with actuarial sign-off and reconciliations for IT3 Tax Testing during annual and bi-annual submissions to SARS.
• Support regression testing following new code releases and ensure no adverse impact on existing data.
• Assist testers with creating new test cases to close out existing defects in the production environment.
• Support knowledge transfer to fellow team members to manage capacity constraints.

5. BAU Process Design, Development and Reporting

• Assist with designing and developing Business-as-Usual (BAU) processes for managing the Savings and Income product suite.
• Enhance existing processes by displaying creativity and simplicity in process design.
• Use technological advancements to enable automation where possible.
• Liaise with various teams in the business, such as Tax, IT, Legal, and Compliance, to obtain expert input into process design.
• Assist with creating seamless end-to-end processes, taking into consideration adviser and client journeys.
• Ensure client correspondence and marketing material are aligned with business decisions, product changes, or legislative requirements.
• Incorporate industry developments, market trends, customer behaviour, and experience insights into processes to remain competitive in an ever-changing environment.
• Ensure processes are well documented to facilitate smooth handovers.
• Assist with various reporting requirements (e.g. ASISA submissions, Market Conduct submissions, and customer reporting).
• Provide requirements for system configuration updates (e.g. interest rates, annual rate review updates, Budget Speech updates, etc.).

Key Requirements

Experience

• 4+ years of work experience.
• Experience in product development or a similar technical environment.
• Knowledge of Savings and Income products and corresponding regulations.
• Proficient in using and building actuarial models to support day-to-day tasks.
• Experience in system testing, validation, defect resolution, and production support is highly preferred.

Technical Skills

• Strong understanding of actuarial calculation logic and product rules.
• Experience working with policy administration systems (BaNCS or similar is highly advantageous).
• Strong Excel modelling skills, including testing tools.
• Proficiency in SQL and/or Python coding.
• Ability to interpret and define technical and legislative requirements for IT delivery.

Core Competencies

• Able to work independently while knowing when to escalate or seek alignment.
• Strong problem-solving and analytical capability.
• High attention to detail and accuracy.
• Proactive mindset.
• Ability to multitask.
• Good communication skills, both written and verbal.
• Ability to plan, prioritise, and deliver on deadlines.
• Resilience.