Actuarial Analyst - Life Insurance

Placements24; Gqeberha; Hybrid; ZAR 420,000 - 660,000; Full time

Benefits offered by this job

Study assistance for actuarial exams

Medical aid

Pension fund

Hybrid work model

Port Elizabeth office facilities

Job summary

Placements24 is recruiting an Actuarial Analyst for a reputable life insurance company in Port Elizabeth, Eastern Cape. The role blends office collaboration with remote flexibility in a hybrid model.

You will develop actuarial models for pricing and reserving, support financial projections, and assist with experience studies while progressing toward actuarial exams. The ideal candidate has a bachelor's in actuarial science or related field, 3+ years life insurance experience, strong analytics,

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related quantitative field.
• Progress toward actuarial qualifications (CT exams with the actuarial society of South Africa).
• Minimum of 3 years of relevant life insurance experience.
• Strong analytical and problem‑solving skills.
• Proficiency in statistical software (R, Python) and spreadsheet modeling (Advanced Excel).
• Understanding of life insurance products, principles, and regulations.
• Excellent written and verbal communication skills.
• Ability to manage multiple tasks in a hybrid work environment.
• High level of accuracy and attention to detail.

Responsibilities

• Develop and maintain actuarial models for pricing new life insurance products.
• Perform calculations for policy reserves in line with regulatory requirements.
• Analyze financial data and report key actuarial metrics and trends.
• Conduct experience studies (mortality, morbidity, lapse) to inform assumptions.
• Support valuation of liabilities and assets for financial reporting purposes.
• Contribute to capital adequacy and solvency assessments.
• Assist in developing financial projections and business plans.
• Collaborate with product, finance, and risk management teams.
• Ensure data integrity in all actuarial calculations and reports.

Skills

Analytical thinking

Problem solving

R

Python

Advanced Excel

Education

Bachelor's degree in Actuarial Science / Mathematics / Statistics

Tools

R

Python

Advanced Excel

Job description

About the Role

Our client, a reputable life insurance company, is actively seeking a talented and motivated Actuarial Analyst to join their growing team in Port Elizabeth, Eastern Cape. This role is integral to the company's financial health, involving complex calculations, risk modeling, and strategic input related to product pricing, reserving, and financial projections. The ideal candidate will possess strong quantitative skills, a keen eye for detail, and a commitment to achieving actuarial qualification milestones. This is an excellent opportunity for an ambitious analyst to develop their career in a supportive and professional environment. The position offers a hybrid work model, allowing for a blend of office-based collaboration and remote flexibility, catering to the needs of modern professionals in Port Elizabeth.

Key Responsibilities

• Assist in the development and maintenance of actuarial models for pricing new life insurance products.
• Perform calculations for policy reserves, ensuring compliance with regulatory requirements.
• Analyze financial data and prepare reports on key actuarial metrics and trends.
• Conduct experience studies (e.g., mortality, morbidity, lapse rates) to inform assumptions.
• Support the valuation of liabilities and assets for financial reporting purposes.
• Contribute to the assessment of capital adequacy and solvency requirements.
• Assist in the development of financial projections and business plans.
• Collaborate with other departments, including product development, finance, and risk management.
• Ensure data integrity and accuracy in all actuarial calculations and reports.
• Participate in training programs and study towards actuarial examinations.

Requirements

• A bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial qualifications (e.g., completion of several CT exams with the Actuarial Society of South Africa).
• A minimum of 3 years of relevant experience in the life insurance industry.
• Strong analytical and problem-solving skills.
• Proficiency in statistical software (e.g., R, Python) and spreadsheet modeling (Advanced Excel).
• Understanding of life insurance products, principles, and regulations.
• Excellent written and verbal communication skills.
• Ability to manage multiple tasks and meet deadlines in a hybrid work environment.
• High level of accuracy and attention to detail.
• Team player with a proactive attitude.

Benefits

Our client provides a competitive salary package designed to attract top talent, along with study assistance and leave for actuarial exams. Comprehensive medical aid and pension fund benefits are included. The hybrid work model promotes work-life balance, with access to modern office facilities in Port Elizabeth. You will be part of a collaborative and intellectually stimulating team, with significant opportunities for professional growth and career advancement within the actuarial field. This role offers exposure to diverse actuarial functions in the life insurance sector.