Actuarial Analyst - Life Insurance

Placements24; Mossel Bay; Hybrid; ZAR 600,000 - 900,000; Full time

Benefits offered by this job

Study support

Medical aid

Retirement fund

Annual leave

Performance bonus

Relocation assistance

Job summary

Placements24 is seeking an Actuarial Analyst to join the finance team in Mossel Bay, Western Cape. You will work on pricing, reserving, modelling, and reporting within a dynamic life insurance environment, collaborating across IT, finance, and product teams to deliver insights that shape strategy.

The role offers hybrid work in Mossel Bay, study support for actuarial exams, a competitive package, and opportunities for career progression within a leading insurer.

Qualifications

• Progress towards or completion of actuarial qualifications (e.g., Actuarial Society of SA exams).
• Minimum of 3 years actuarial experience, preferably in life insurance.
• Strong knowledge of life insurance products, valuation techniques, and SA regulatory requirements.
• Proficiency with actuarial modeling software (Prophet, GGY Axis) and data tools (SQL, Python).
• Excellent analytical, quantitative, and problem-solving skills.
• Strong written and verbal communication skills.
• Ability to work in a hybrid environment (Mossel Bay).

Responsibilities

• Develop, implement, and maintain actuarial models for pricing, reserving, and financial projections.
• Perform calculations for statutory and regulatory reserves.
• Assist in the pricing of new life insurance products and the review of existing ones.
• Conduct experience analyses (mortality, morbidity, lapse rates) and recommend adjustments.
• Prepare actuarial reports for internal management, auditors, and regulatory bodies.
• Support capital management and solvency assessments.
• Collaborate with IT, finance, and product development teams on data analysis and system enhancements.
• Stay current with actuarial standards of practice, regulations, and industry developments.
• Contribute to the development and mentoring of junior actuarial staff.
• Perform ad-hoc actuarial investigations and analyses as required by management.

Skills

Analytical thinking

Problem solving

Communication skills

Team collaboration

Education

Actuarial exams (e.g., ASSA)

Tools

Prophet

GGY Axis

SQL

Python

Job description

About the Role

Our client, a well-established life insurance company, is seeking a talented and motivated Actuarial Analyst to join their finance team in Mossel Bay, Western Cape. This role is integral to the company's financial health and strategic planning, involving complex actuarial modeling, pricing, reserving, and financial reporting. The ideal candidate will possess a strong foundation in actuarial science, excellent analytical skills, and a proactive approach to problem-solving. You will work closely with other departments to provide critical insights that drive business decisions. This is a prime opportunity to contribute to a growing organization in the picturesque coastal town of Mossel Bay, while advancing your actuarial career. The position offers exposure to diverse actuarial functions within the life insurance sector.

Key Responsibilities

• Develop, implement, and maintain actuarial models for pricing, reserving, and financial projections.
• Perform calculations for statutory and regulatory reserves.
• Assist in the pricing of new life insurance products and the review of existing ones.
• Conduct experience analyses (mortality, morbidity, lapse rates) and recommend adjustments.
• Prepare actuarial reports for internal management, auditors, and regulatory bodies.
• Support capital management and solvency assessments.
• Collaborate with IT, finance, and product development teams on data analysis and system enhancements.
• Stay current with actuarial standards of practice, regulations, and industry developments.
• Contribute to the development and mentoring of junior actuarial staff.
• Perform ad-hoc actuarial investigations and analyses as required by management.

Requirements

• Progress towards or completion of actuarial qualifications (e.g., Actuarial Society of South Africa exams).
• A minimum of 3 years of actuarial experience, preferably within the life insurance industry.
• Strong understanding of life insurance products, valuation techniques, and South African regulatory requirements.
• Proficiency in actuarial modeling software (e.g., Prophet, GGY Axis) and data analysis tools (e.g., SQL, Python).
• Excellent analytical, quantitative, and problem-solving skills.
• Strong written and verbal communication skills.
• Ability to work effectively in a hybrid environment, balancing office and remote work in Mossel Bay.
• Detail-oriented with a high degree of accuracy.
• A collaborative spirit and ability to work well within a team.

Benefits

• Competitive salary package reflecting actuarial expertise.
• Study support and leave for actuarial examinations.
• Performance-based bonuses.
• Comprehensive medical aid and retirement fund.
• Generous annual leave allowance.
• Opportunities for career progression within a leading insurer.
• Relocation assistance may be considered for exceptional candidates.