Actuarial Analyst - Life Insurance

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

Benefits offered by this job

Competitive starting salary

Study support for actuarial exams

Medical and dental insurance

Pension fund participation

Professional work environment in Gaut?

Job summary

Placements24 in Midrand, Gauteng, invites an Actuarial Analyst to join a leading life insurance company. You will work on pricing, reserving, financial modeling, and risk analysis for life insurance products, contributing to financial health and strategic planning.

The role suits someone with a solid actuarial base, strong analytical skills, and a commitment to ongoing professional exams; 1–3 years’ life insurance experience is preferred, with excellent attention to detail and clear

Qualifications

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or related field.
• Progress towards actuarial examinations (ASISA) required.
• 1-3 years life insurance experience preferred.
• Strong analytical and quantitative skills.
• Proficiency in a statistical tool or language (R, Python, SAS, SQL).
• Excellent attention to detail and reporting accuracy.
• Eagerness to learn and develop within actuarial field, based in Midrand.

Responsibilities

• Assist in pricing models development and maintenance for life insurance products.
• Perform calculations for statutory and regulatory reserves.
• Conduct experience analyses (mortality, morbidity, lapse rates) to inform pricing and product development.
• Support valuation of liabilities and capital requirements.
• Develop and maintain financial models for forecasting and business planning.
• Analyze data sets to identify trends and provide insights to management.
• Collaborate with product development, underwriting, and finance on actuarial matters.
• Contribute to continuous improvement of actuarial processes and methodologies.

Skills

Statistical analysis

Pricing experience

Life insurance experience

R, Python, SAS, SQL

Attention to detail

Communication skills

Education

Actuarial Science degree

Tools

R

Python

SAS

SQL

Job description

About the Role

Our client, a leading life insurance company, is seeking a bright and ambitious Actuarial Analyst to join their dedicated team in Midrand, Gauteng. This role is critical for the financial health and strategic planning of the company. You will be involved in a wide range of actuarial tasks, including pricing, reserving, financial modeling, and risk analysis for life insurance products. The ideal candidate will have a strong foundation in actuarial science, excellent analytical skills, and a desire to pursue actuarial qualifications. This is an excellent opportunity to gain valuable experience in a challenging and rewarding field within the Gauteng financial sector, contributing directly to the company's success.

Key Responsibilities

• Assist in the development and maintenance of pricing models for new and existing life insurance products.


• Perform calculations for statutory and regulatory reserves, ensuring compliance with all applicable standards.


• Conduct experience analyses (morbidity, mortality, lapse rates) to inform product development and pricing assumptions.


• Support the valuation of liabilities and capital requirements for the company.


• Develop and maintain financial models for forecasting and business planning purposes.


• Analyze and interpret complex data sets to identify trends and provide insights to management.


• Collaborate with other departments, including product development, underwriting, and finance, on actuarial matters.


• 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 examinations (e.g., with Actuarial Society of South Africa or equivalent) is required.


• 1-3 years of relevant experience in the life insurance industry is preferred.


• Strong analytical, problem-solving, and quantitative skills.


• Proficiency in at least one statistical software package or programming language (e.g., R, Python, SAS, SQL).


• Excellent attention to detail and accuracy in calculations and reporting.


• Good communication skills, with the ability to explain technical concepts to non‑technical audiences.


• Proactive attitude and eagerness to learn and develop within the actuarial field in Midrand.

Benefits

• Competitive starting salary and performance-based increases.


• Study support and leave for actuarial examinations.


• Comprehensive medical and dental insurance.


• Pension fund participation.


• A stimulating and professional work environment in Gauteng.