Actuarial Analyst - Pricing and Reserving

Placements24; Durban; Hybrid; ZAR 550,000 - 850,000; Full time

Benefits offered by this job

Actuarial exam fees covered

Performance bonus

Medical aid

Retirement fund

Hybrid model

Job summary

Placements24 in Durban seeks an Actuarial Analyst to join its insurance team, focusing on pricing, reserving, and risk analytics to support financial planning.

You will work with R, Python, and SAS to build models, analyze data trends, and contribute to regulatory filings while collaborating across underwriting, product, and finance.

Hybrid work arrangement offers in-office engagement with remote flexibility, professional development, and opportunities to advance toward actuarial fellowship.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial exams (e.g., SOA/CAS) is required, with a strong desire to achieve full fellowship.
• 2-4 years of actuarial experience, preferably in pricing or reserving.
• Proficiency in statistical modeling, data analysis, and programming languages such as R, Python, or SAS.
• Strong understanding of insurance principles and financial mathematics.
• Excellent analytical, problem-solving, and quantitative skills.
• Effective communication and presentation abilities.
• Ability to work collaboratively in a hybrid team environment.

Responsibilities

• Develop, implement, and maintain pricing models for new and existing insurance products.
• Perform complex reserving calculations and analyses to ensure adequate financial reserves for future claims.
• Analyze historical data to identify trends, assess risks, and provide insights for business decision-making.
• Assist in the preparation of regulatory filings and financial reports.
• Collaborate with underwriting, product development, and finance teams to support business objectives.
• Utilize advanced statistical software and programming languages (e.g., R, Python, SQL) for data analysis and modeling.
• Stay current with industry best practices, regulatory changes, and actuarial techniques.
• Communicate complex actuarial concepts and findings clearly to non-technical stakeholders.
• Contribute to the development and enhancement of actuarial tools and processes.

Skills

Statistical modeling

Data analysis

Excellent communication

Education

Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field

Tools

R

Python

SAS

Job description

About the Role

Our client, a distinguished leader in the insurance sector, is seeking a talented and motivated Actuarial Analyst to join their esteemed team in Durban, KwaZulu-Natal. This role is crucial for supporting the company's financial stability and strategic planning through sophisticated data analysis, pricing models, and reserving calculations. The successful candidate will work on challenging projects, contributing to the accuracy of financial forecasts and the development of competitive insurance products. This position offers a compelling blend of analytical rigor and collaborative teamwork within a hybrid work framework, balancing in-office engagement with remote flexibility. You will collaborate with various departments, providing critical insights into risk and profitability. The company is committed to fostering a stimulating environment where actuarial professionals can thrive and develop their careers.

Key Responsibilities

• Develop, implement, and maintain pricing models for new and existing insurance products.
• Perform complex reserving calculations and analyses to ensure adequate financial reserves for future claims.
• Analyze historical data to identify trends, assess risks, and provide insights for business decision‑making.
• Assist in the preparation of regulatory filings and financial reports.
• Collaborate with underwriting, product development, and finance teams to support business objectives.
• Utilize advanced statistical software and programming languages (e.g., R, Python, SQL) for data analysis and modeling.
• Stay current with industry best practices, regulatory changes, and actuarial techniques.
• Communicate complex actuarial concepts and findings clearly to non-technical stakeholders.
• Contribute to the development and enhancement of actuarial tools and processes.

Requirements

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial exams (e.g., SOA/CAS) is required, with a strong desire to achieve full fellowship.
• 2-4 years of relevant actuarial experience, preferably in pricing or reserving.
• Proficiency in statistical modeling, data analysis, and programming languages such as R, Python, or SAS.
• Strong understanding of insurance principles and financial mathematics.
• Excellent analytical, problem‑solving, and quantitative skills.
• Effective communication and presentation abilities.
• Ability to work collaboratively in a hybrid team environment.

Benefits

Our client offers a competitive salary and a comprehensive benefits package designed to support your career and well‑being. This includes a generous allowance for actuarial exam fees and study time, a performance bonus scheme, medical aid contributions, and a retirement fund. You'll have access to cutting‑edge technology and the opportunity to work on impactful projects. Continuous professional development is encouraged, with pathways for career progression within the actuarial function and beyond. The hybrid model supports a flexible approach to work.