Actuarial Analyst - Pricing & Reserving

Placements24; Randburg; Hybrid; ZAR 480,000 - 720,000; Full time

Benefits offered by this job

Competitive salary & bonus

Medical aid

Provident fund

Study assistance for actuarial exams

Career advancement

Job summary

Placements24 seeks an Actuarial Analyst in Randburg to join a high‑performing actuarial team. You will develop and refine pricing models for various insurance products and support reserving activities, collaborating with underwriting, finance, and product teams to provide actionable actuarial insights.

You will apply advanced analytical techniques and statistical modeling to assess risk, forecast outcomes, and contribute to the company’s solvency and profitability in a hybrid work setting based

Qualifications

• Bachelor's degree in Actuarial Science, Statistics, Mathematics, or related quantitative discipline.
• Progress towards actuarial examinations (e.g., SOA, IFoA) is essential.
• Minimum of 3 years of actuarial experience in pricing or reserving within the insurance industry.
• Proficiency in actuarial software (Prophet) and data analysis tools (R, Python, SQL) and advanced Excel.

Responsibilities

• Develop, implement, and maintain pricing models for insurance products.
• Analyze historical data and market trends to inform pricing strategies.
• Perform reserving calculations to ensure adequacy of technical provisions.
• Collaborate with underwriting, finance, and product teams to provide actuarial insights.
• Conduct sensitivity analyses and scenario testing on pricing and reserving assumptions.
• Prepare actuarial reports and presentations for management and regulatory bodies.
• Stay updated with industry developments and actuarial best practices.
• Contribute to development of new actuarial methodologies and software.

Skills

Analytical skills

Quantitative modeling

Communication

Education

Bachelor's degree in Actuarial Science/Statistics/Mathematics or related

Tools

Prophet

R

Python

SQL

Excel

Job description

About the Role

Our client, a leading insurer with a significant market presence, is seeking a talented and ambitious Actuarial Analyst to join their high-performing team in Randburg . This role is pivotal in developing and refining pricing models for new and existing insurance products, as well as supporting reserving activities. You will utilize advanced analytical techniques and statistical modeling to assess risk, forecast financial outcomes, and ensure the long-term profitability and solvency of the company. The ideal candidate will possess strong quantitative skills, a deep understanding of actuarial principles, and a commitment to continuous learning. This is an exceptional opportunity for professional growth within a dynamic and innovative insurance environment in Gauteng .

Key Responsibilities

• Develop, implement, and maintain pricing models for various insurance products.
• Analyze historical data and market trends to inform pricing strategies.
• Perform reserving calculations and analyses to ensure adequacy of technical provisions.
• Collaborate with underwriting, finance, and product development teams to provide actuarial insights.
• Conduct sensitivity analysis and scenario testing on pricing and reserving assumptions.
• Prepare actuarial reports and presentations for management and regulatory bodies.
• Stay abreast of industry developments, regulatory changes, and best practices in actuarial science.
• Assist in the development and implementation of new actuarial methodologies and software.
• Contribute to the ongoing professional development of the actuarial team.

This role is based in Randburg , offering a hybrid working model.

Requirements

• A Bachelor's degree in Actuarial Science, Statistics, Mathematics, or a related quantitative discipline.
• Progress towards actuarial examinations (e.g., Society of Actuaries, Institute and Faculty of Actuaries) is essential.
• Minimum of 3 years of experience in an actuarial role within the insurance industry, with a focus on pricing or reserving.
• Proficiency in actuarial software (e.g., Prophet, R, Python, SQL) and advanced Excel skills.
• Strong analytical, problem-solving, and quantitative modeling abilities.
• Excellent written and verbal communication skills, with the ability to explain complex technical concepts clearly.
• Ability to work effectively both independently and as part of a team in a hybrid setting.
• Proactive attitude with a keen eye for detail and commitment to accuracy.

Benefits

• Our client offers a highly competitive salary and a generous bonus structure.
• Comprehensive benefits package includes medical aid, a provident fund, and study assistance for actuarial exams.
• Excellent opportunities for career advancement and professional development.
• A dynamic and collaborative work environment fostering innovation.
• Access to sophisticated actuarial tools and data.
• This hybrid position in Randburg provides flexibility, combining office-based synergy with remote work convenience.
• Be part of a leading insurance team in Gauteng .