Actuarial Pricing Analyst I

RMB Nigeria Limited; Randburg; On-site; ZAR 900,000 - 1,300,000; Full time

Benefits offered by this job

Flexible working environment

Health and wellbeing focus

Competitive salary and benefits

Support for actuarial exams

Inclusive team culture

Job summary

FirstRand Group in South Africa is seeking an Actuarial Specialist I to support pricing analyses for short-term insurance products. You will build and validate pricing models, prepare data analyses for reviews, and collaborate with underwriting, claims, finance, and product development teams to ensure robust pricing assumptions.

You will contribute to developing new features and rating structures while monitoring loss ratios and trends.

Qualifications

• Have a BSc Degree in Actuarial Science
• An Honours degree in Actuarial Science is preferred
• Successfully completed at least Five Actuarial Exams
• 2 – 3 years' relevant experience within a Pricing or Corporate Actuarial role within Short-Term Insurance, Insurance, Investments or Banking is preferred
• Short-Term Insurance Pricing experience will be advantageous
• Strong analytical and problem-solving skills, with attention to detail
• Proficient in Microsoft Excel; experience with statistical and pricing tools (e.g., Power BI, Python, SQL, SAS, R, Emblem/Radar or similar GLM software) will be advantageous
• Effective written and verbal communication skills
• Able to work collaboratively in a team environment
• Eager to learn and grow within the Actuarial profession

Responsibilities

• Assist in building, updating, and validating actuarial pricing models for short-term insurance products
• Support the preparation and analysis of data for pricing reviews, claims experience investigations, burning cost analyses, and profitability assessments
• Contribute to the development of new product features, rating structures, and the review of existing products
• Compile and interpret claims, exposure, and financial data to support pricing and portfolio management decisions
• Assist in monitoring loss ratios, claims frequency and severity trends, and the impact of rate changes on portfolio performance
• Prepare reports and presentations for internal stakeholders, summarising key findings and recommendations
• Collaborate with underwriting, claims, finance, and product development teams to ensure pricing assumptions are robust and aligned with company objectives
• Assist in the implementation of regulatory requirements and compliance standards relevant to pricing activities
• Participate in ongoing professional development and actuarial exam progress

Skills

Actuarial pricing

Data analysis

Excel

Power BI

Python

SQL

SAS

R

Emblem/Radar

Education

BSc Actuarial Science

Honours in Actuarial Science

Tools

Power BI

Python

SQL

SAS

R

Emblem/Radar

Job description

FirstRand Group in South Africa is seeking an Actuarial Specialist I to support pricing analyses for short-term insurance products. You will build and validate pricing models, prepare data analyses for reviews, and collaborate with underwriting, claims, finance, and product development teams to ensure robust pricing assumptions.

You will contribute to developing new features and rating structures while monitoring loss ratios and trends.