Marketing Actuary

Guardrisk is the undisputed market leader in cell captive insurance and risk solutions. We are renowned for our innovative approach to cell captive structures and other alternative risk transfer solutions for our clients. Guardrisk offers clients custom designed cover and is registered in South Africa as an insurer for all statutory classes of non-life and life insurance business.

The Marketing Actuary is responsible for marketing Guardrisk Lifes products and services to existing and prospective clients which includes the execution of new business transactions. The Marketing Actuary will need to ensure that all transactions for which they are responsible are successfully implemented and operate effectively post implementation. The Marketing Actuary is a subject matter expert and needs to provide technical input and guidance on the transactions in the Guardrisk Life portfolio. Additionally the Marketing Actuary is responsible for the management of all cell captives in their portfolio.

Main functions:

• Marketing of Guardrisk Life to prospective new clients. This includes taking responsibility for the following functions with assistance from the broader team and back-office technical areas.
• Deal structuring.
• Advising clients on operating models in an outsourced insurance value chain.
• Advising clients and internal stakeholders on Life insurance technical considerations associated with proposed transactions.
• Preparing business cases for consideration at the Guardrisk Life New Business and Product Management Committees.
• Contributing to the development and implementation of Guardrisk Lifes strategic initiatives including but not limited to new business initiatives and corporate transactions.
• Consult with prospective clients on their business goals to position insurance as a commercial opportunity that can assist the target company to grow its revenue. This engagement encompasses the full insurance value chain and includes the strategic objectives of the target company.
• Contribute to Guardrisk Lifes new business initiatives. This includes among others:
• Strategic market positioning.
• Refinement of the value proposition Guardrisk Life offers to the market.
• Analysing the South African life insurance market to identify opportunities.
• Take responsibility for new business proposals and pitching to clients.
• Development of business cases for corporate action and actively participating in such transactions.
• Build relationships with industry stakeholders and cultivate distribution channels for new opportunities. Such interactions should encompass engagements with the greater Momentum Metropolitan group broker relationships direct client interaction administrators asset managers retirement funds labour organisations affinity opportunities etc.
• Collaborate with other business units channels and segments in the Momentum Metropolitan group to unlock synergies and create joint new business opportunities.
• Build strategic relationships with business partners and stakeholders in order to understand their business priorities and requirements.
• Identify opportunities for improvement and/or identify potential challenges and implement mitigating tactics in the Guardrisk Life business with a specific focus on the new business process.
• Managing third-party cell captives where products include amongst others the full suite of employee benefit products individual funeral individual life and disability individual critical illness credit life and investment products. The responsibilities include:

• Ensuring effective management of various stakeholders in the insurance value chain (cell owners binder holders intermediaries consultants reinsurers administrators)
• Reviewing cells financial statements and managing revenue streams
• Preparing client reports which include information such as cell solvency underwriting performance etc.
• Facilitating reinsurance renewals via the reinsurance department
• Ensuring compliance with market conduct standards and relevant legislative requirements
• Ensuring that legal contracting is correct up to date and in place
• Tending to client queries
• Keeping up to date with legislation and regulation in the life insurance market.
• Network on industry matters to facilitate knowledge share and input to clients on their insurance businesses.

Qualifications

Relevant tertiary qualification: BCom; BSc. (or similar)

Relevant professional qualification: Actuary (or nearly qualified) CFA etc.

FAIS Compliant

RE5 and RE1 is advantageous

Experience

Minimum 3-5 years experience in the financial services industry.

Strong Life insurance technical knowledge and understanding would be preferred

Client facing experience would be preferred

Strong accounting and/or actuarial skills would be preferred

Deal making experience would be preferred

Tenacity in pursuing new business opportunities.

Well-developed people skills.

Ability to liaise with different stakeholders.

Excellent verbal and written communication skills.

Negotiation skills.

Critical thinking skills.

Business acumen.

Deadline driven.

Strong implementation skills.

Ability to understand and interpret financial statements and insurance valuation reports.

Ability to work under pressure.

Ability to operate both independently as well as play a role in the Guardrisk Life team and to contribute to the greater Guardrisk group.