About the position
Actuarial Analyst
POSITION PURPOSE
- The purpose of the job is to analyse data and derive insights utilising statistical and actuarial models to inform product development, benefits design and pricing within the company and the healthcare industry.
QUALIFICATIONS AND EXPERIENCE
- A Bachelor's degree in Actuarial Science or Advanced Diploma/Bachelor's degree in Statistics or Mathematics, or relevant equivalent qualification at NQF Level 7.
- Minimum of 5 years actuarial experience, 2 years of which must be in product development at a specialist/supervisory/management level.
- Valid registration with the Actuarial Society of South Africa.
- An Honours degree qualification in Actuarial Science or Statistics or Mathematics at NQF Level 8 will be an added advantage.
- Experience in healthcare research, and actuarial analysis, and/or maintaining actuarial models for risk assessment of insurance products will be an added advantage.
Training and Knowledge areas:
- Knowledge of all related legislation impacting on and influencing the functioning of the organisation (MSA, CMSLA, etc.).
- Understanding of evidence-based medicine principle.
- Knowledge of research methodologies.
- Knowledge of health financing systems and economics.
- Collect, analyse, and interpret large sets of data to inform actuarial decisions.
- Knowledge of public and private healthcare, including National Department of Health policies and strategic plans.
- Understanding of budget impact analysis, economic evaluation techniques, priority setting or evaluation of interventions.
- Literature searching and synthesising research evidence; and
- Computer Literacy.
POSITION OUTPUTS
- Research and advocate various policy issues and concepts to help improve the healthcare system - Contribute to mergers and acquisition, product development, benefit design and review process, pricing and other actuarial evaluation and actuarial reports from schemes and other related research studies.
- Analyse, develop and validate statistical data - Update actuarial forecasting models, refine and collect appropriate data for actuarial analysis and ensure reasonableness and accuracy by coordinating and providing support to the Policy, Research and Monitoring Division and company, and update and maintain forecasting models.
- Apply the latest procedures, standards and trends like cost-benefit analysis, programme evaluation, etc. for the development of health plans.
- Design health metrics and data analysis methods - collaborate with other units within the organisation to ensure the accurate and efficient implementation of metrics and data.
- Participate and assist in various committees related to the PMB Review project.
- Provide actuarial support to other business units and participate in projects as and when required.
- Undertake allocated assignments/tasks in accordance with company's operational requirements.
Technical Skills and Behavioural Attributes:
- Qualitative and Quantitative research.
- Strong proficiency in actuarial modelling software and statistical analysis tools.
- Analytical and proficient in related tools (e.g. Excel, SAS, STATA or SPSS, SQL).
- Attention to detail, negotiation, communication and interpersonal skills.
- Organising and project management skills.
- Problem definition, analysis and decision-making.
- Presentation and report writing skills.
Desired Skills:
- Actuarial Science
- MSA
- Healthcare Research
