Actuarial Analyst

Placements24; Upington; Hybrid; ZAR 480,000 - 720,000; Full time

Benefits offered by this job

Medical aid

Retirement fund

Hybrid work model

Annual leave

Professional growth

Study support

Office in Upington

Performance reviews

Collaborative environment

Job summary

Placements24 is recruiting an Actuarial Analyst for our client in Upington, Northern Cape. The role covers pricing, reserving, product development, and risk management across insurance lines.

You will collaborate with underwriting, finance, and claims, using Prophet, GGY Axis, and data tools in a hybrid setting with in-office days in Upington and remote flexibility.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related quantitative field.
• Progress towards actuarial qualifications (exams passed with a recognized actuarial society).
• Minimum of 3 years of actuarial experience within the insurance industry.
• Strong analytical, mathematical, and problem-solving skills.
• Proficiency in actuarial modeling software (Prophet, GGY Axis) and data tools (SQL, R, Python).
• Good understanding of insurance principles, products, and financial markets.

Responsibilities

• Perform actuarial calculations for pricing, reserving, and solvency assessments.
• Develop and maintain actuarial models for financial forecasting and risk analysis.
• Assist in design and pricing of new insurance products.
• Support the valuation of insurance liabilities and statutory reporting.
• Analyze claims data to identify trends and inform reserving assumptions.
• Conduct profitability studies and provide insights for business improvement.
• Collaborate with other departments to provide actuarial support for business initiatives.
• Stay current with actuarial standards of practice, regulations, and industry developments.
• Assist in the preparation of reports and presentations for management and regulatory bodies.
• Contribute to the development and documentation of actuarial processes.

Skills

Actuarial knowledge

Analytical thinking

Communication skills

Problem solving

Independence

Multitasking

Education

BSc Actuarial Science

Tools

Prophet

GGY Axis

SQL

R

Python

Job description

About the Role

Our client, a leading financial services group with a strong insurance arm, is seeking a talented and motivated Actuarial Analyst to join their expanding team in Upington, Northern Cape. This role is instrumental in providing actuarial expertise for pricing, reserving, product development, and risk management across various insurance lines. You will work closely with underwriting, finance, and claims departments, utilizing advanced analytical techniques to support strategic decision-making. The ideal candidate will possess strong quantitative skills, a solid understanding of actuarial principles, and a commitment to professional development within the actuarial field. This hybrid position offers the best of both worlds, allowing for in-office collaboration with the Upington team and the flexibility of remote work. Be a key contributor to the financial health and strategic direction of the insurance business.

Key Responsibilities

• Perform actuarial calculations for pricing, reserving, and solvency assessments.
• Develop and maintain actuarial models for financial forecasting and risk analysis.
• Assist in the design and pricing of new insurance products.
• Support the valuation of insurance liabilities and statutory reporting.
• Analyze claims data to identify trends and inform reserving assumptions.
• Conduct profitability studies and provide insights for business improvement.
• Collaborate with other departments to provide actuarial support for business initiatives.
• Stay current with actuarial standards of practice, regulations, and industry developments.
• Assist in the preparation of reports and presentations for management and regulatory bodies.
• Contribute to the development and documentation of actuarial processes.

Requirements

• A Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial qualifications (e.g., exams passed with a recognized actuarial society).
• Minimum of 3 years of relevant actuarial experience within the insurance industry.
• Strong analytical, mathematical, and problem-solving skills.
• Proficiency in actuarial modeling software (e.g., Prophet, GGY Axis) and data manipulation tools (e.g., SQL, R, Python).
• Good understanding of insurance principles, products, and financial markets.
• Effective communication and interpersonal skills, with the ability to explain technical concepts.
• Ability to work independently and manage multiple priorities in a hybrid work setting.
• Detail-oriented with a commitment to accuracy and quality.
• Must be based in or willing to relocate to Upington, Northern Cape, or be comfortable commuting for in-office requirements.

Benefits

• Competitive salary package with potential for annual performance reviews and increases.
• Financial support and study leave for actuarial examinations.
• Comprehensive medical aid and retirement fund benefits.
• Generous annual leave allowance.
• Hybrid work model providing flexibility and work-life balance.
• Collaborative and supportive work environment within the Upington office.
• Opportunities for professional growth and career advancement in the actuarial field.
• Exposure to a wide range of actuarial challenges in the insurance sector.