Corporate Actuarial Specialist II

RMB; India; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

RMB within FirstRand Group seeks an experienced Corporate Actuarial Specialist II to autonomously handle data preparation and analyses, while guiding junior colleagues and presenting insights to management. The role involves supporting cell captive insurance structures and delivering high-quality actuarial outputs across valuation, reporting, and capital management.

The candidate should have a bachelor’s degree in actuarial science, 5+ years in life insurance actuarial work, and 1–3 ASSA exams

Qualifications

• Bachelor’s degree in actuarial science.
• 1–3 ASSA exams remaining toward fellowship qualification.
• Minimum 5 years actuarial experience in life insurance/financial services.
• Experience with cell captive insurance structures preferred.

Responsibilities

• Perform life insurance actuarial valuations, reserving, and liability assessments.
• Support IFRS 17 reporting and valuation requirements.
• Prepare SAM and Prudential Authority regulatory reporting, including capital and solvency calculations.
• Conduct capital modelling, profitability analysis, and balance sheet management activities.
• Develop actuarial forecasts and contribute to business planning processes.
• Support financial reporting, actuarial governance, audit, and regulatory engagements.
• Monitor and assess insurance risks across underwriting, market, credit, and operational domains.
• Validate and enhance actuarial models and methodologies.

Skills

Analytical skills

Stakeholder communication

Mentoring

Team collaboration

Detail-oriented

Education

Bachelor's degree in actuarial science

1–3 ASSA exams remaining towards fellowship

Tools

Prophet

R

Python

SQL

Excel/VBA

Job description

Job Description To autonomously handle data preparation and conduct basic to intermediate analyses, while executing complex analyses under supervision. Managing independent projects, providing mentorship to junior colleagues, and effectively communicating with stakeholders, including delivering presentations to management committees and executive teams.

About the role

Hello, future Corporate Actuarial Specialist II As part of our team in FNB Insure, you will be surrounded by unique talents, diverse minds, and an adaptable environment that lives up to the promise of staying curious. Now is the time to imagine your potential in a team where experts come together and ignite effective change.

Role responsibilities

This role will support the insurance partnership initiative in setting up and running the actuarial support for a newly established cell captive licence. In this role, you will contribute to actuarial valuation, reporting, capital management, and business analytics activities across the insurance partnership business. You will be responsible for delivering high-quality actuarial analysis, supporting reporting obligations, enhancing actuarial models, and providing commercial insights that enable sound business decision-making.

Core duties

• Perform life insurance actuarial valuations, reserving, and liability assessments.
• Support IFRS 17 reporting and valuation requirements.
• Prepare SAM and Prudential Authority regulatory reporting, including capital and solvency calculations.
• Conduct capital modelling, profitability analysis, and balance sheet management activities.
• Develop actuarial forecasts and contribute to business planning processes.
• Support financial reporting, actuarial governance, audit, and regulatory engagements.
• Monitor and assess insurance risks, including underwriting, market, credit, and operational risks.
• Validate, test, and enhance actuarial models, methodologies, and processes.
• Utilise actuarial modelling tools such as Prophet, R, Python, SQL, and Excel/VBA to deliver reporting and analytical insights.
• Provide actuarial recommendations to support risk management, capital efficiency, and strategic business decision-making.

Candidate profile

• A bachelor’s degree in actuarial science.
• Have 1 – 3 Actuarial examinations remaining toward fellowship qualification with the Actuarial Society of South Africa (ASSA).
• A minimum of 5 years Actuarial experience within Life Insurance, Financial services or Actuarial Consulting.
• Experience within Cell Captive Insurance structures will be preferred.

Key attributes

• Adaptable and curious.
• Detail-oriented with strong analytical capabilities.
• Collaborative and relationship focused.
• Comfortable working in a fast-paced and evolving environment.
• Committed to continuous learning and professional development.
• An effective communicator who can translate technical findings into business insights.
• Passionate about delivering high-quality actuarial solutions that create value for the business.

Important closing date

12/09/26

Employment equity and diversity statement

All appointments will be made in line with FirstRand Group’s Employment Equity plan.

The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfil this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.

About FirstRand

FirstRand provides a comprehensive range of financial services in South Africa and certain markets in broader Africa. The group also offers certain niche products and services in the UK and India.

Listed on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange (NSX), FirstRand Limited is the largest financial institution by market capitalisation in Africa.

The group follows a multi-branding approach. Its portfolio of financial services businesses includes FNB, RMB, WesBank, Ashburton Investments, Aldermore, MotoNovo and DirectAxis. Many are leaders in their respective segments and markets, offering transactional, lending, investment and insurance products and services

The FirstRand Corporate Centre houses many of the critical functions required by a large and complex financial services group.

The group’s track record of delivering superior returns to shareholders has been achieved through a combination of organic growth, acquisitions, innovation and the creation of completely new businesses.

The group’s purpose of delivering Shared Prosperity provides many opportunities for employees to innovate to address social and environmental challenges in our markets. All of our businesses have successful Volunteering programmes which also allow employees to adopt and support causes close to their hearts.