Actuarial Analyst - Life Insurance

Placements24; Willows (CA); Hybrid; USD 21,000 - 33,000; Full time

Benefits offered by this job

Health insurance

Retirement plan

Study support

Annual bonus

Training programs

Job summary

Placements24 is seeking an Actuarial Analyst for a prominent life insurance client in Welkom, Free State. The role focuses on developing and maintaining actuarial models to support pricing, reserving, and financial forecasting, contributing to the company’s solvency and financial health.

The ideal candidate is an aspiring actuary or recent graduate with strong quantitative skills and the ability to work in a hybrid setting, balancing in-office collaboration with flexibility.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative discipline.
• Progress towards actuarial qualifications (e.g., exams passed with Actuarial Society of South Africa).
• Strong analytical and quantitative skills with keen attention to detail.
• Proficiency in actuarial modeling software (Prophet, MoSes) and MS Excel.
• Familiarity with Python or R is a significant advantage.
• Excellent problem-solving abilities and written/verbal communication skills.
• Ability to work independently and as part of a team.
• Located in or willing to commute to Welkom, Free State for hybrid work arrangements.

Responsibilities

• Develop, implement, and maintain actuarial models for pricing life insurance products.
• Perform reserving calculations and ensure regulatory compliance.
• Run financial projections and scenario testing to assess performance and risks.
• Analyze policy data to identify trends and support product development.
• Collaborate with underwriting, claims, and finance on actuarial matters.
• Prepare reports and presentations for management.
• Test and validate actuarial software and databases.
• Stay current with actuarial standards and industry developments.
• Support ad-hoc analyses and projects as required.
• Document methodologies clearly and concisely.

Skills

Analytical skills

Quantitative skills

Communication skills

Problem solving

Teamwork

Education

Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related

Progress toward actuarial qualifications (e.g., exams passed with ASISA)

Tools

Prophet

MoSes

MS Excel

Python or R (advantage)

Job description

About the Role

Our client, a prominent life insurance company, is seeking a diligent and analytical Actuarial Analyst to join their growing team in Welkom, Free State. This role is instrumental in developing and maintaining actuarial models that support pricing, reserving, and financial forecasting for life insurance products. The successful candidate will play a key part in ensuring the financial health and solvency of the company by applying rigorous statistical and mathematical techniques. This is an ideal opportunity for an aspiring actuary or a recent graduate with a strong quantitative background to build a career in a supportive and challenging environment. The hybrid work arrangement offers a balance between in-office collaboration and personal flexibility in Welkom.

Key Responsibilities

• Assist in the development, implementation, and maintenance of actuarial models for pricing new life insurance products.
• Perform calculations for reserving requirements and ensure compliance with regulatory standards.
• Conduct financial projections and scenario testing to assess business performance and risks.
• Analyze policy data to identify trends and provide insights for product development and management.
• Collaborate with other departments, including underwriting, claims, and finance, on actuarial matters.
• Prepare reports and presentations summarizing actuarial findings for management.
• Assist in the testing and validation of actuarial software and databases.
• Stay current with actuarial standards of practice, regulations, and industry developments.
• Support the actuarial team in ad-hoc analysis and projects as required.
• Document methodologies and processes clearly and concisely.

Requirements

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative discipline.
• Progress towards actuarial qualifications (e.g., exams passed with Actuarial Society of South Africa).
• Strong analytical and quantitative skills with a keen attention to detail.
• Proficiency in actuarial modeling software (e.g., Prophet, MoSes) and MS Excel is essential.
• Familiarity with programming languages like Python or R is a significant advantage.
• Excellent problem-solving abilities and logical thinking.
• Good written and verbal communication skills.
• Ability to work independently and as part of a team.
• Proactive attitude and eagerness to learn and develop.
• Located in or willing to commute to Welkom, Free State for hybrid work arrangements.

Benefits

Employees benefit from a comprehensive health insurance plan, a generous retirement annuity contribution, and other standard employment benefits. The company fosters a professional development-focused culture, with opportunities for advancement as you progress through your actuarial exams and gain experience. You will be part of a respected team in Welkom, working on critical aspects of the life insurance business. This hybrid role ensures a good work-life balance.

• competitive starting salary
• significant support for actuarial exam studies, including study leave and financial assistance
• comprehensive health insurance plan
• generous retirement annuity contribution
• other standard employment benefits
• annual performance bonuses
• access to internal training programs