Actuarial Manager

FirstRand Short Term Insurance; Johannesburg; On-site; ZAR 1,200,000 - 2,000,000; Full time

Job summary

FirstRand Short Term Insurance seeks an Actuarial Manager (Pricing) to lead a pricing team and deliver end-to-end pricing solutions for personal lines and related products. You will apply GLM techniques and analytics to inform strategic pricing initiatives and support regulatory and board expectations.

The role emphasizes mentorship, stakeholder collaboration, risk management, and continuous improvement of pricing processes to influence pricing strategy across the business.

Qualifications

• BSc degree in Actuarial Science
• Nearly Qualified Actuary (core exams done, pursuing Fellowship)
• Minimum 9 years actuarial experience, at least 5 in pricing or pricing team within Short Term Insurance
• Strong analytical and problem-solving skills with attention to detail
• Proficiency in Excel and familiarity with actuarial software (SQL, SAS, Python, R, Power BI, Emblem, Radar)
• Experience with data visualization tools and ability to present findings clearly
• Excellent written and verbal communication; able to work independently and in cross-functional teams

Responsibilities

• Influence pricing strategies and budgeting across the Pricing Function with quantitative insights
• Lead, mentor and develop pricing team members
• Manage pricing projects and report on cost/benefit realisation
• Present pricing proposals to pricing forums for approval
• Oversee testing and obtain required sign-off on models
• Drive adoption of pricing strategy across your area of accountability
• Collaborate on claims analytics and growth initiatives across the business

Skills

Analytical skills

Excel

SQL

SAS

Python

R

Power BI

Data visualization

Communication

Team collaboration

Education

BSc degree in Actuarial Science

Nearly Qualified Actuary

Tools

Emblem

Radar

Power BI

SQL

SAS

Python

R

Job description

Job Description To manage complex analyses and guiding both junior and senior team members, while maintaining proficiency across various fields. Ensure alignment with strategic objectives by consulting on broader business matters, managing intricate processes, and proposing and implementing diverse work streams. Deliver presentations to the board committee, regulators, and executive committee to support business goals. Hello, future Actuarial Manager (Short-Term Insurance Pricing) Role purpose To manage a Short-Term Insurance pricing team and ensure effective end to end delivery of pricing solutions related to specific products or services. This position is ideal for candidates with relevant actuarial experience who are ready to enhance FNB Short Term Insurance’s pricing techniques and contribute to strategic pricing initiatives.

Key responsibilities:

• Contribute to and influence Pricing strategies and budget goals across allocated Pricing Function through the provision of quantitative analytical insight in delivery of business strategy
• Display and encourage an appreciation of teamwork and inclusivity
• Develop, encourage and nurture collaborative relationships across area of specialisation
• Manage team performance in achievement of business objectives
• Participate in planned activities that are appropriate for own and employee development
• Manages risks in own area of responsibility
• Ensure development and continuous value add improvement to operational processes
• Build working relationships across teams and functional lines to enhance work delivery, collaboration and innovation
• Deliver customer experience excellence in own service delivery aligned to Organisational values and service standards
• Assess and manage pricing projects, provide advice and report on progress in terms of cost and benefit realisation
• Attend to and resolve pricing queries and refunds as and when required s
• Serve as subject matter expert (SME) and communicate pricing proposals based on data analysis to relevant pricing forums for approval
• Oversee and review testing and provide required sign off
• Oversee pricing across the value chain and within area of responsibility in delivery against business strategy
• Drive the implementation and adoption of the Pricing strategy within area of accountability
• Oversee all Short-Term Insurance product pricing with emphasise on personal lines
• Apply a range of pricing techniques from simple portfolio pricing to complex GLM's
• Responsible for the entire actuarial control cycle, Pricing approval, implementation, monitoring and enhancements
• Candidate will be involved in a range of functions across the business beyond pure pricing including claims analytics and initiatives to help growth initiatives.

Qualifications and Experience

• BSc degree in Actuarial Science
• Nearly Qualified Actuary (completed all core actuarial exams and actively working toward Fellowship)
• A minimum of 9 years relevant Actuarial work experience of which at least 5 years in a Pricing or actuarial team within Short Term Insurance
• Strong analytical and problem-solving skills, with meticulous attention to detail and the ability to handle complex datasets
• Proficiency in Microsoft Excel, and familiarity with actuarial software (e.g., SQL, SAS, Python, R, Power BI, Emblem, Radar or other GLM software)
• Experience with data visualisation tools will be advantageous
• Effective written and verbal communication skills, with the ability to present technical findings to non-technical audiences
• Proven ability to work independently and collaboratively in a diverse, cross-functional team environment

#Post #FNB #LI-AR2

Important Closing Date Note

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.

18/11/26

All appointments will be made in line with FirstRand Group’s Employment Equity plan.

The Bank supports the recruitment and advancement of individuals with disabilities.

In order for us to fulfil this purpose, candidates can disclose their disability information on a voluntary basis.

The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.

FirstRand provides a comprehensive range of financial services in South Africa and certain markets in broader Africa. The group also offers certain niche products and services in the UK and India. Listed on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange (NSX), FirstRand Limited is the largest financial institution by market capitalisation in Africa. The group follows a multi-branding approach. Its portfolio of financial services businesses includes FNB, RMB, WesBank, Ashburton Investments, Aldermore, MotoNovo and DirectAxis. Many are leaders in their respective segments and markets, offering transactional, lending, investment and insurance products and services The FirstRand Corporate Centre houses many of the critical functions required by a large and complex financial services group. The group’s track record of delivering superior returns to shareholders has been achieved through a combination of organic growth, acquisitions, innovation and the creation of completely new businesses. The group’s purpose of delivering Shared Prosperity provides many opportunities for employees to innovate to address social and environmental challenges in our markets. All of our businesses have successful Volunteering programmes which also allow employees to adopt and support causes close to their hearts.