Actuarial Manager - Life Insurance

Placements24; Mossel Bay; On-site; ZAR 1,800,000 - 2,600,000; Full time

Benefits offered by this job

Executive remuneration package

Medical aid

Retirement fund

Professional development

Job summary

Placements24 seeks an Actuarial Manager to lead its life insurance actuarial team in Mossel Bay, Western Cape. The role anchors pricing, reserving, financial modelling and statutory reporting with senior-level responsibility.

You will manage actuaries and students, ensuring accuracy, regulatory compliance, and robust forecasting while driving professional development in a coastal setting.

Qualifications

• Fellow of the Actuarial Society of South Africa (FASSA) or equivalent designation.
• 10+ years post-qualification life insurance actuarial experience.
• Strong pricing, reserving and financial modelling background.
• Proven leadership of actuarial teams and stakeholder influence.
• Solid knowledge of SA regulatory frameworks (SAM) and reporting.

Responsibilities

• Lead and manage the life insurance actuarial team, providing technical guidance.
• Oversee pricing of new and existing life products for profitability.
• Manage valuation of liabilities, reserving and solvency calculations.
• Develop sophisticated actuarial models for forecasting and planning.
• Ensure compliance with statutory reporting and regulatory requirements.
• Collaborate with product, finance and risk management on strategic initiatives.
• Mentor junior staff and drive continuous learning.
• Present findings and recommendations to senior management.

Skills

Leadership

Pricing experience

Reserving experience

Financial modeling

Communication skills

Education

FASSA or equivalent designation

Tools

Prophet

Python

R

Job description

About the Role

Our client, a leading financial services institution, is seeking an experienced and qualified Actuarial Manager to lead their life insurance actuarial team in Mossel Bay, Western Cape . This senior role is pivotal in overseeing all actuarial functions related to life insurance products, including pricing, reserving, financial modeling, and statutory reporting. You will be responsible for managing a team of actuaries and actuarial students, ensuring the accuracy and integrity of all actuarial work. The ideal candidate will possess extensive experience in life insurance actuarial practices, strong leadership capabilities, and a deep understanding of regulatory requirements in South Africa . This is a unique opportunity to take on a leadership role in a beautiful coastal setting.

Key Responsibilities

• Lead and manage the life insurance actuarial team, providing technical guidance and professional development.
• Oversee the pricing of new and existing life insurance products, ensuring profitability and competitiveness.
• Manage the valuation of life insurance liabilities, including reserving and solvency calculations.
• Develop and maintain sophisticated actuarial models for forecasting, scenario testing, and financial planning.
• Ensure compliance with all statutory reporting requirements and relevant insurance regulations.
• Collaborate with other departments (e.g., product development, finance, risk management) on strategic initiatives.
• Review and validate actuarial assumptions and methodologies.
• Mentor and coach junior actuarial staff, fostering a culture of continuous learning and improvement.
• Stay abreast of industry best practices, emerging trends, and regulatory changes in actuarial science.
• Present complex actuarial findings and recommendations to senior management.

Requirements

• Fellow of the Actuarial Society of South Africa (FASSA) or equivalent international designation.
• A minimum of 10 years of post-qualification experience in life insurance actuarial functions.
• Proven experience in pricing, reserving, and financial modeling for life insurance products.
• Demonstrated experience in managing and leading actuarial teams.
• In-depth knowledge of South African insurance legislation and regulatory frameworks (e.g., SAM).
• Strong analytical, problem-solving, and quantitative skills.
• Excellent communication and interpersonal skills, with the ability to influence stakeholders.
• Proficiency in actuarial modeling software and programming languages (e.g., Prophet, Python, R).
• Ability to work independently and manage multiple priorities effectively in a demanding environment.
• Reside within commuting distance of Mossel Bay, Western Cape .

Benefits

• Our client offers an executive-level remuneration package, including a substantial annual bonus and long-term incentives.
• Comprehensive medical aid, a generous retirement fund, and life insurance benefits are provided.
• Opportunities for continuous professional development and participation in industry conferences are supported.
• You will be part of a highly respected team within a stable and growing organization located in the scenic Western Cape .
• Career progression into executive management positions is a distinct possibility for high performers.