Actuarial Analyst

Placements24; Richards Bay; Hybrid; ZAR 540,000 - 900,000; Full time

Benefits offered by this job

Medical aid

Pension fund

Study support for actuarial exams

Hybrid work arrangement

Job summary

Placements24, on behalf of a leading insurer in Richards Bay, seeks an Actuarial Analyst to join the risk management team. You will apply mathematical and statistical methods to pricing, reserving, and forecasting, collaborating with finance, underwriting and claims to provide actuarial insights.

The role requires a relevant degree and progression toward actuarial qualifications, 2–4 years' experience in insurance, and proficiency in R, Python or SAS.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field.
• Progress towards actuarial qualifications (e.g., SOA/IFOA) is desirable.
• Minimum 2–4 years of actuarial experience within the insurance industry.
• Proficiency in programming languages such as R, Python, or SAS, and experience with actuarial software.
• Strong analytical, problem-solving, and communication skills.

Responsibilities

• Develop, implement, and maintain actuarial models for pricing, reserving, and forecasting.
• Analyze large datasets to identify trends, risks, and opportunities.
• Assist in pricing new insurance products across lines of business.
• Calculate and monitor statutory and management reserves.
• Conduct experience analyses, including mortality, morbidity, and lapse studies.

Skills

Analytical skills

Actuarial principles

Data-driven decision making

Communication skills

Team collaboration

Education

Bachelor's degree in Actuarial Science, Mathematics, Statistics

Tools

R

Python

SAS

Job description

About the Role

Our client, a leading and innovative insurer, is looking for a talented and driven Actuarial Analyst to join their sophisticated risk management team in Richards Bay, KwaZulu-Natal . This pivotal role involves applying complex mathematical and statistical methods to assess and manage financial risk within the insurance products. You will be instrumental in pricing new products, evaluating reserves, and forecasting future financial performance. The ideal candidate will possess strong analytical capabilities, a robust understanding of actuarial principles, and a commitment to data-driven decision-making. This is a challenging yet highly rewarding opportunity for an ambitious actuary to make a significant impact in the dynamic insurance market of Richards Bay and contribute to the strategic direction of the company.

Key Responsibilities

• Develop, implement, and maintain actuarial models for pricing, reserving, and financial forecasting.
• Analyze large datasets to identify trends, risks, and opportunities.
• Assist in the development and pricing of new insurance products across various lines of business.
• Calculate and monitor statutory and management reserves.
• Conduct experience analyses, including mortality, morbidity, and lapse studies.
• Collaborate with finance, underwriting, and claims departments to provide actuarial insights.
• Prepare clear and concise reports and presentations for senior management and regulatory bodies.
• Stay updated on actuarial best practices, industry regulations, and relevant software advancements.
• Perform sensitivity testing and scenario analysis on financial projections.
• Contribute to the continuous improvement of actuarial processes and methodologies.

Requirements

• A Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial qualifications (e.g., Society of Actuaries, Institute and Faculty of Actuaries) is highly desirable.
• Minimum of 2-4 years of actuarial experience within the insurance industry.
• Strong understanding of actuarial principles, financial modeling, and statistical techniques.
• Proficiency in programming languages such as R, Python, or SAS, and experience with actuarial software.
• Excellent analytical, problem-solving, and critical thinking skills.
• Ability to interpret complex data and communicate findings effectively to non-technical audiences.
• Strong attention to detail and commitment to accuracy.
• Team player with excellent interpersonal and communication skills.
• Experience with solvency and capital requirements (e.g., Solvency II) is a plus.

Benefits

Our client offers an attractive and competitive salary package, along with comprehensive benefits that include excellent medical aid, a substantial pension fund, and study assistance for actuarial examinations. This role provides significant opportunities for professional growth and career progression within a highly respected organization. The hybrid working arrangement offers flexibility and promotes a healthy work-life balance. You will be working within a collaborative and intellectually stimulating environment in Richards Bay, KwaZulu-Natal .