Actuarial Manager

Discovery Vitality RSA

Actuarial Manager 

Division Discovery Vitality
Reports To - Head of Vitality Actuarial Location Sandton, Johannesburg 
Employment Type - Permanent, Full-Time In-office policy In office at least 3x per week

Level: Specialist/ Prof level 3

About Discovery 

Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

About Discovery Vitality RSA

Discovery Vitality is the world’s leading science-based behaviour change programme, operating at the core of Discovery’s shared-value insurance model. By incentivising healthier behaviour, Vitality drives measurable improvements in member health outcomes while generating actuarially value within the insurance businesses.

About the Role

This is a commercially focused actuarial role for someone who wants to move beyond traditional reserving and valuation work and get their hands into the financial engine of a dynamic, fast-moving business. You will sit within the Vitality Actuarial team and play a central role in keeping the Vitality programme financially sustainable, optimising partner economics, and providing the quantitative rigour behind strategic business decisions.

What makes this team unique is proximity to impact. Vitality is an analytically led organisation – your models and analysis don’t disappear into a queue; they become the basis for executive decision-making, partner negotiations, and product design. You will work closely with business stakeholders at every level, including directly with the CEO, and you will see the real-world consequences of your work manifest in the programme. Few actuarial roles offer this combination of commercial depth, strategic visibility, and direct line of sight to outcomes.

If you’re energised by understanding the financial dynamics of a business, identifying opportunities to improve unit economics, and working in an environment that is constantly changing and challenging – this role is built for you. The pace ensures continuous learning and growth; the complexity ensures you will never be bored.

Key Responsibilities

Financial Planning & Sustainability
• Own and maintain Vitality’s financial projection models, including annual budgets, rolling forecasts, and scenario analysis.
• Track actual vs. budget performance, investigate variances, and provide clear, actionable commentary to senior leadership.
• Model the financial impact of product changes, pricing decisions, and engagement trends on the programme’s overall sustainability.
• Support the development of long-term financial plans that balance member value with commercial viability. Partner Commercials
• Analyse the economics of Vitality’s partner network (rewards, fitness, retail, travel, and device partners) to assess commercial sustainability and value exchange.
• Build and maintain models to evaluate partner deal structures, pricing, and renegotiation scenarios.
• Provide data-driven input into partner negotiations, quantifying the value Vitality delivers and the cost of partner benefits.
• Monitor partner utilisation and cost trends, flagging risks and opportunities early. Business Optimisation & Deep Dives
• Conduct forensic deep dives into cost drivers, revenue leakage, and engagement economics to identify optimisation opportunities.
• Analyse member behaviour at a granular level to understand the financial implications of engagement patterns, tier migration, and lapse.
• Work cross-functionally with product, marketing, and engagement teams to quantify the ROI of initiatives and support prioritisation decisions.
• Propose benefit enhancements and changes to improve ROIs
• Develop dashboards and reporting tools that give stakeholders real-time visibility into financial and operational performance. Actuarial & Strategic Support
• Contribute to the actuarial evidence base underpinning Vitality’s shared-value model, including claims savings attribution and behavioural economics.
• Support ad hoc strategic projects as required by the Head of Vitality Actuarial, Chief Actuary, CFO, Head of Commercial or CEO.

Requirements

Qualifications
· Newly qualified actuary (FASSA or equivalent international qualification).
· Strong academic track record.

Experience
· Actuarial student experience in a financial, commercial, or consulting environment preferred (health insurance, life insurance, banking, or consulting).
· Exposure to budgeting, financial modelling, or commercial analysis is advantageous.
· Experience working with large datasets and translating data into business insights.

Technical Skills
· Advanced Excel modelling skills (essential).
· Proficiency in SQL and Python is advantageous
· Experience with BI/visualisation tools (Power BI, Tableau, or similar) is a plus.
· Comfortable building models from scratch and stress-testing assumptions.

Attributes We’re Looking For
· Commercially minded: You think in terms of business outcomes, not just actuarial outputs.
· Curious and tenacious: You love pulling at threads until you understand what’s really driving the numbers.
· Clear communicator: You can distil complex financial analysis into crisp narratives for non-technical stakeholders.
· Ownership mentality: You take accountability for your work and proactively flag issues and opportunities.
· Collaborative: You thrive working across teams – product, commercial, engagement, and finance – not just within an actuarial silo.
Thrives on change: You’re energised, not unsettled, by a business that constantly evolves and challenges the status quo.

What We Offer
· A uniquely positioned actuarial team where you see the direct impact of your work on a programme that touches millions of lives.
· Direct exposure to senior leadership, including the Vitality Exco and regular interaction with the CEO.
· An analytically led organisation where your work is central to decision-making – identifying risks, unlocking opportunities, and shaping strategy.
· A high-paced, constantly evolving business that guarantees continuous learning, growth, and intellectual challenge. 

EMPLOYMENT EQUITY   
                             
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.