Actuarial Analyst - Life Insurance

Placements24; George; On-site; ZAR 520,000 - 900,000; Full time

Benefits offered by this job

Competitive salary

Study leave for exams

Medical benefits

Pension plan

Generous leave

Career progression

Job summary

Placements24 in George, Western Cape, is seeking an Actuarial Analyst to join a leading life insurer. You will perform actuarial calculations, pricing models and risk assessments.

You will work with senior actuaries and cross‑functional teams to ensure accurate financial projections, regulatory reporting and product development. The role is office‑based in George, with opportunities for professional growth and study support.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics or Statistics.
• Progress toward FASSA is essential.
• Minimum 3 years' experience in the life insurance actuarial functions.
• Strong analytical and quantitative skills with attention to detail.
• Experience with Prophet and GGY AXIS is highly desirable.

Responsibilities

• Assist in developing actuarial models for pricing and reserving.
• Perform data analysis to assess mortality and other risk factors.
• Support regulatory reporting and capital calculations under Solvency II or similar frameworks.
• Collaborate with underwriting, product development and finance teams to provide actuarial insights.
• Document methodologies and ensure data quality and integrity.

Skills

Actuarial pricing

Data analysis

Statistical modeling

Python

R

SQL

Prophet

GGY AXIS

Education

Bachelor's degree in Actuarial Science

FASSA progression

Tools

Prophet

GGY AXIS

Python

R

SQL

Job description

About the Role

Our client, a leading life insurance provider, is actively seeking a talented and motivated Actuarial Analyst to join their esteemed actuarial team based in George, Western Cape. This role is pivotal in supporting the company's financial health and strategic decision-making by performing complex actuarial calculations, pricing models, and risk assessments. The successful candidate will work closely with senior actuaries and various departments to ensure the accuracy and integrity of financial projections and product development. This is an exceptional opportunity to advance your actuarial career in a stable and reputable organization located in the picturesque George region. The position is office-based, offering a consistent and collaborative work environment.

Key Responsibilities

• Assist in the development and maintenance of actuarial models for pricing, reserving, and financial reporting of life insurance products.
• Perform data analysis and statistical modeling to assess mortality, morbidity, and other relevant risk factors.
• Support the valuation of liabilities and the calculation of required capital under Solvency II or similar regulatory frameworks.
• Contribute to the pricing of new and existing life insurance products, ensuring profitability and competitiveness.
• Assist in the preparation of regulatory returns and financial statements.
• Collaborate with underwriting, product development, and finance teams to provide actuarial insights and support.
• Stay abreast of industry trends, regulatory changes, and emerging actuarial techniques.
• Document actuarial methodologies and assumptions clearly and concisely.
• Assist in the management of data quality and integrity for actuarial systems.
• Participate in peer reviews and quality assurance of actuarial work.

Requirements

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial qualifications (e.g., Fellow of the Actuarial Society of South Africa - FASSA) is essential.
• A minimum of 3 years of experience in the life insurance industry, with exposure to actuarial functions.
• Strong analytical and quantitative skills, with a keen eye for detail.
• Proficiency in actuarial software (e.g., Prophet, GGY AXIS) and programming languages (e.g., Python, R, SQL) is highly desirable.
• Excellent problem-solving abilities and a methodical approach to work.
• Strong communication skills, with the ability to explain complex technical concepts to non-actuarial audiences.
• Ability to work effectively both independently and collaboratively in a team setting.
• Commitment to professional ethics and continuous learning.
• Must be based in or willing to relocate to George, Western Cape.

Benefits

• Competitive salary and potential for performance-based bonuses.
• Financial assistance and study leave for actuarial examinations.
• Comprehensive medical and retirement benefits.
• Generous annual leave entitlement.
• Exposure to a wide range of actuarial challenges within the life insurance sector.
• Opportunities for professional growth and career progression.
• Be part of a respected and stable financial institution.
• Enjoy the lifestyle benefits of living in the beautiful George area.