Actuarial Assistant - Insurance Pricing

Placements24; Mbombela (Nelspruit); On-site; ZAR 180,000 - 280,000; Full time

Benefits offered by this job

Competitive salary

Study leave for actuarial exams

Medical aid and provident fund

Career progression opportunities

Job summary

Placements24 is seeking an Actuarial Assistant to join the pricing team in Nelspruit, Mpumalanga. On-site role focused on developing pricing models, analyzing data, and supporting actuarial decisions.

The position requires a quantitative background, progress toward actuarial qualifications, and collaboration with actuaries, underwriters, and other teams. Relocation to Nelspruit may be considered for the right candidate.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics or related quantitative field.
• Actuarial qualification progress (e.g., exams) anticipated or in progress.
• Strong analytical, problem-solving and critical thinking skills.
• Proficiency in data manipulation and analysis using Excel/SQL/R/Python.

Responsibilities

• Assist in developing and maintaining pricing models for insurance products.
• Gather, clean, and analyze large datasets to support actuarial assumptions.
• Perform calculations and run simulations as directed by senior actuaries.
• Validate pricing models and identify areas for improvement.
• Prepare reports and presentations summarizing findings from data analysis and model runs.
• Support the implementation of new pricing structures and product enhancements.
• Monitor pricing performance and profitability.
• Ensure adherence to actuarial standards, methodologies and regulatory requirements.
• Collaborate with actuaries, underwriters and other departments.
• Stay updated on actuarial techniques, software and industry best practices.

Skills

Analytical thinking

Problem-solving

Communication

Detail orientation

Education

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

Tools

Excel

SQL

R

Python

Job description

About the Role

Our client, a leading insurer, is seeking an enthusiastic and analytically minded Actuarial Assistant to join their pricing team in Nelspruit, Mpumalanga . This role provides an excellent opportunity for an individual with a strong quantitative background to develop their career in actuarial science. You will be involved in assisting actuaries with the development, implementation, and maintenance of pricing models for various insurance products. Your work will directly influence the profitability and competitiveness of our client's offerings. This position requires an on-site presence to foster close collaboration with the actuarial team and other key business units. You will be instrumental in supporting data analysis, model validation, and the generation of pricing insights. This is a fantastic stepping stone for aspiring actuaries looking to gain practical experience in a dynamic insurance environment.

Key Responsibilities

• Assist in the development and maintenance of pricing models for insurance products.
• Gather, clean, and analyze large datasets to support actuarial assumptions.
• Perform calculations and run simulations as directed by senior actuaries.
• Validate existing pricing models and identify areas for improvement.
• Prepare reports and presentations summarizing findings from data analysis and model runs.
• Support the implementation of new pricing structures and product enhancements.
• Contribute to the monitoring of pricing performance and profitability.
• Ensure adherence to actuarial standards, methodologies, and regulatory requirements.
• Collaborate effectively with actuaries, underwriters, and other departments.
• Stay updated on actuarial techniques, software, and industry best practices.

Requirements

• A Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a closely related quantitative field.
• Demonstrated progress towards actuarial qualifications (e.g., passing actuarial exams).
• Strong analytical, problem-solving, and critical thinking skills.
• Proficiency in data manipulation and analysis using tools such as Excel, SQL, R, or Python.
• Excellent attention to detail and accuracy in numerical work.
• Good communication skills, both written and verbal.
• Ability to work effectively both independently and as part of a collaborative team.
• Based in or willing to relocate to Nelspruit, Mpumalanga .
• Eagerness to learn and develop within the actuarial profession.
• Familiarity with insurance principles is an advantage.

Benefits

Our client offers a competitive starting salary, with opportunities for regular increases based on performance and exam progression. Full support is provided for actuarial exam studies, including study leave and financial assistance. Membership in a comprehensive medical aid scheme and a provident fund is included. You will gain invaluable hands‑on experience in a crucial area of the insurance business. The work environment is professional, supportive, and focused on continuous learning. Potential for career advancement to fully qualified actuary roles. Other benefits include annual leave and sick leave.