Actuarial Analyst - Life Insurance

Placements24; Upington; On-site; ZAR 420,000 - 700,000; Full time

Benefits offered by this job

Comprehensive medical aid

Pension fund

Study support for actuarial exams

Job summary

Placements24 in Upington, Northern Cape invites an Actuarial Analyst to perform actuarial calculations, develop pricing models, and support financial reporting within a life insurance context. The role emphasizes collaboration with senior actuaries and cross-functional teams in pricing, reserving, and product strategy.

The candidate should be mathematically proficient, pursuing actuarial exams, with 2+ years of life insurance experience and strong knowledge of SA regulations.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial qualifications (e.g., passing SOA/FSB exams).
• A minimum of 2 years of experience in an actuarial role within the life insurance industry is preferred.
• Strong understanding of life insurance products, principles, and regulations in South Africa.
• Proficiency in actuarial software (e.g., Prophet, GGY Axis) and programming languages like SQL, Python, or R is highly desirable.
• Excellent analytical, quantitative, and problem-solving skills.
• Strong attention to detail and accuracy.
• Good communication and interpersonal skills.
• Ability to work effectively both independently and as part of a team.
• Eagerness to learn and develop professionally.

Responsibilities

• Perform complex actuarial calculations for pricing, reserving, and financial projections.
• Assist in the development and validation of actuarial models for life insurance products.
• Support the creation of regulatory and financial reports.
• Analyze policy data to identify trends and inform business decisions.
• Collaborate with product development teams on new insurance offerings.
• Assist in the valuation of liabilities and solvency assessments.
• Conduct research on actuarial methodologies and industry best practices.
• Respond to actuarial queries from internal stakeholders.
• Contribute to the automation and efficiency of actuarial processes.
• Prepare documentation for actuarial work and maintain data integrity.

Job description

About the Role

Our client, a well-established life insurance company, is seeking a bright and motivated Actuarial Analyst to join their dedicated team in Upington, Northern Cape . This role is instrumental in performing actuarial calculations, developing pricing models, and supporting financial reporting and product development initiatives. The ideal candidate will possess strong quantitative and analytical skills, a solid understanding of actuarial principles, and a commitment to completing actuarial exams. You will work closely with senior actuaries and other departments to provide critical insights into pricing, reserving, and product strategy. We are looking for an individual who is detail-oriented, proficient in relevant software, and eager to build a successful career in the actuarial field within the South African insurance market. This position offers an excellent opportunity for professional growth and exposure to various facets of the life insurance business. Your analytical prowess will directly contribute to the company's financial health and strategic decision-making processes. The role requires a disciplined approach to problem-solving and the ability to translate complex actuarial concepts into understandable business terms.

Key Responsibilities

• Perform complex actuarial calculations for pricing, reserving, and financial projections.
• Assist in the development and validation of actuarial models for life insurance products.
• Support the creation of regulatory and financial reports.
• Analyze policy data to identify trends and inform business decisions.
• Collaborate with product development teams on new insurance offerings.
• Assist in the valuation of liabilities and solvency assessments.
• Conduct research on actuarial methodologies and industry best practices.
• Respond to actuarial queries from internal stakeholders.
• Contribute to the automation and efficiency of actuarial processes.
• Prepare documentation for actuarial work and maintain data integrity.

Requirements

• A Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial qualifications (e.g., passing SOA/FSB exams).
• A minimum of 2 years of experience in an actuarial role within the life insurance industry is preferred.
• Strong understanding of life insurance products, principles, and regulations in South Africa .
• Proficiency in actuarial software (e.g., Prophet, GGY Axis) and programming languages like SQL, Python, or R is highly desirable.
• Excellent analytical, quantitative, and problem-solving skills.
• Strong attention to detail and accuracy.
• Good communication and interpersonal skills.
• Ability to work effectively both independently and as part of a team.
• Eagerness to learn and develop professionally.

Benefits

Our client offers a competitive salary package, commensurate with experience and progress in actuarial exams, along with performance-based bonuses. Benefits include comprehensive medical aid, a generous pension fund, and study support for actuarial exams. Excellent opportunities for professional growth and career advancement within the actuarial function are provided. You will work in a supportive and collaborative environment in Upington, Northern Cape . Exposure to a wide range of life insurance products and actuarial challenges.

• comprehensive medical aid
• a generous pension fund
• study support for actuarial exams