Actuarial Analyst - Life Insurance

Placements24; Durban; On-site; ZAR 350,000 - 600,000; Full time

Benefits offered by this job

Medical aid

Provident fund

Group life insurance

Study leave for actuarial exams

Professional development opportunities

Potential international exposure

Job summary

Placements24 in Durban is seeking an Actuarial Analyst for a life insurance provider. You will contribute to pricing, reserving, and product development, working alongside experienced actuaries in a collaborative, mentorship-rich environment.

This office-based role emphasizes strong quantitative skills, actuarial exam progression, and opportunities for career advancement within a growing insurance team in Durban.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial qualifications (e.g., passed several actuarial exams) is essential.
• Strong analytical, quantitative, and problem-solving skills.
• Proficiency in actuarial modeling software (Prophet, GGY Axis) and Excel.
• Knowledge of life insurance products, principles, and regulations.
• Excellent written and verbal communication skills.
• Detail-oriented with a high degree of accuracy in work.
• Ability to work effectively both independently and as part of a team.
• Prior internship or work experience in an actuarial role within the insurance industry is advantageous.
• Must be legally eligible to work in South Africa and based in or willing to relocate to Durban.

Responsibilities

• Assist in the calculation of life insurance reserves, ensuring compliance with regulatory requirements and accounting standards.
• Perform pricing analyses for new and existing life insurance products, including mortality, morbidity, and expense assumptions.
• Develop and maintain actuarial models for valuation, forecasting, and risk assessment.
• Analyze policy data to identify trends, assess profitability, and inform product development strategies.
• Support the implementation and testing of new actuarial software and systems.
• Prepare reports and presentations on actuarial findings for management and regulatory bodies.
• Collaborate with other departments, including finance, product development, and marketing, on actuarial-related matters.
• Stay abreast of industry developments, regulatory changes, and emerging actuarial techniques.
• Participate in actuarial examinations and pursue relevant professional designations (e.g., Actuarial Society of South Africa).
• Conduct ad-hoc analysis as required to support business initiatives and strategic decisions.

Skills

Analytical thinking

Quantitative skills

Problem-solving

Education

Bachelor's degree in Actuarial Science/Mathematics/Statistics

Tools

Prophet

GGY Axis

Microsoft Excel

Job description

About the Role

Our client, a leading life insurance provider based in the vibrant city of Durban , is actively seeking a talented and ambitious Actuarial Analyst to join their growing team. This role is integral to the financial health and strategic planning of the company, focusing on pricing, reserving, and product development within the life insurance sector. You will be part of a highly analytical and collaborative environment, working alongside experienced actuaries and contributing to critical business decisions. This position requires a strong quantitative aptitude, excellent problem-solving skills, and a commitment to professional development. As this role is office-based in Durban , you will benefit from direct mentorship and team interaction, essential for accelerated learning and career progression. We are looking for individuals who are passionate about applying actuarial principles to real-world business challenges and who are eager to make a significant impact in the insurance industry. This is an exceptional opportunity to build a solid foundation in actuarial science within a supportive and growth-oriented organization.

Key Responsibilities

• Assist in the calculation of life insurance reserves, ensuring compliance with regulatory requirements and accounting standards.
• Perform pricing analyses for new and existing life insurance products, including mortality, morbidity, and expense assumptions.
• Develop and maintain actuarial models for valuation, forecasting, and risk assessment.
• Analyze policy data to identify trends, assess profitability, and inform product development strategies.
• Support the implementation and testing of new actuarial software and systems.
• Prepare reports and presentations on actuarial findings for management and regulatory bodies.
• Collaborate with other departments, including finance, product development, and marketing, on actuarial-related matters.
• Stay abreast of industry developments, regulatory changes, and emerging actuarial techniques.
• Participate in actuarial examinations and pursue relevant professional designations (e.g., Actuarial Society of South Africa).
• Conduct ad-hoc analysis as required to support business initiatives and strategic decisions.

Requirements

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial qualifications (e.g., passed several actuarial exams) is essential.
• Strong analytical, quantitative, and problem-solving skills.
• Proficiency in actuarial modeling software (e.g., Prophet, GGY Axis) and Microsoft Excel.
• Knowledge of life insurance products, principles, and regulations.
• Excellent written and verbal communication skills, with the ability to articulate complex technical concepts.
• Detail-oriented with a high degree of accuracy in work.
• Ability to work effectively both independently and as part of a team.
• Prior internship or work experience in an actuarial role within the insurance industry is advantageous.
• Must be legally eligible to work in South Africa and based in or willing to relocate to Durban .

Benefits

• Our client offers a highly competitive salary and a comprehensive benefits package.
• This includes medical aid, a provident fund, and group life insurance.
• We provide significant support for actuarial exam progression, including study leave and financial assistance.
• Opportunities for professional growth and development are extensive, with exposure to various aspects of the actuarial function.
• A structured career path is in place for high-achievers.
• The Durban office provides a stimulating and collaborative work environment.
• Regular training sessions and workshops are conducted.
• Access to advanced actuarial tools and technologies.
• A culture that encourages innovation and knowledge sharing.
• Potential for international exposure through global affiliations.

We are an equal opportunity employer committed to diversity and inclusion.