Actuarial Specialist I

FirstRand Bank India; Johannesburg; On-site; ZAR 320,000 - 520,000; Full time

Benefits offered by this job

Preferential banking rates

Competitive benefits

Generous leave policy

Job summary

FirstRand Bank India is seeking an Actuarial Specialist I to prepare data and conduct basic analyses under supervision, building a foundation in life insurance valuations. You will work with guidance from experienced actuaries while progressively taking ownership of high-quality analysis and clear stakeholder communication.

In this role you will assist with monthly valuations and reporting, run actuarial cash flow models, and support experience investigations.

Qualifications

• BSc in Actuarial Science or equivalent.
• 1–2 years’ experience in Life Insurance, Insurance or Banking.
• Solid exam progress with a minimum of 5 exemptions.
• Strong analytical and problem-solving skills with attention to detail.
• Proficient in Microsoft Excel; experience with statistical tools (SQL, SAS, Prophet) advantageous.
• Effective written and verbal communication skills.
• Ability to work collaboratively in a team.
• Eager to learn and grow within the Actuarial profession.

Responsibilities

• Assist with monthly actuarial valuations and reporting across life insurance products, ensuring outputs are accurate, timely, and clearly explained.
• Run and update actuarial cash flow models for varying life insurance products.
• Support demographic basis setting and experience investigations, including mortality, morbidity, lapses and other policyholder behaviour assumptions.
• Prepare, transform, reconcile and interrogate data used in actuarial models and reporting processes.
• Analyse movements in actuarial results, identify key drivers, and translate technical findings into clear visual and written explanations.
• Prepare monthly reports, management information and presentations for actuarial, finance and business stakeholders.
• Collaborate across Corporate Actuarial, Finance, Data, Pricing and other areas to resolve issues and deliver reporting outcomes.
• Contribute to process improvements and automation to strengthen efficiency, control and insight.
• Deliver quality work in a fast-paced, high-performing team environment.
• Participate in ongoing professional development and actuarial exam progress.

Skills

Analytical skills

Problem solving

Excel

SQL

SAS

Prophet

Verbal communication

Team collaboration

Education

Bachelor's degree in Actuarial Science

Tools

SQL

SAS

Prophet

Excel

Job description

Job Description

To prepare data and conduct basic analyses with guidance. Possesses a foundational understanding of technical concepts within their field and can effectively convey information to the wider team and to relevant stakeholders under supervision.

Hello, future Actuarial Specialist I

Role Purpose

Builda strong foundationin life insurance valuations by applying core actuarial concepts to real-world reporting, reserving,modelling,and experience analysis. You will work with guidance from experienced actuaries while progressively taking ownership of high-quality analysis and clear stakeholder communication.

Key responsibilities

• Assistwith monthly actuarial valuations and reporting across a range of life insurance products, ensuring outputs areaccurate,timely,and clearly explained.

• Run and updateactuarial cash flow models for varying life insurance products.

• Support demographic basis setting and experience investigations, including mortality, morbidity,lapsesand other policyholderbehaviourassumptions.

• Prepare, transform,reconcileand interrogate data used in actuarial models and reporting processes.

• Analyse movementsin actuarial results,identifykeydrivers,and translate technical findings into clear visual and written explanations.

• Prepare monthly reports, managementinformationand presentations for actuarial, finance and business stakeholders.

• Collaborate with colleagues across Corporate Actuarial, Finance, Data,Pricingand other business areas to resolve issues and deliver reporting outcomes.

• Contribute to process improvements and automation that strengthen efficiency,controland insight.

• Deliver quality work in a fast-paced,high-performing teamenvironment.

• Participate in ongoing professional development and actuarial exam progress

You will be an ideal candidate if you:

• Have a BSc Degree in Actuarial Science

• 1 – 2 years’ relevant experience within aLife Insurance, Insurance or Banking environment

• Solid exam progresswith aminimum of5exemptions

• Strong analytical and problem-solving skills, with attention to detail

• Proficient in Microsoft Excel; experience with statistical tools (e.g. SQL, SAS,Prophet)will beadvantageous

• Effective written and verbal communication skills

• Able to work collaboratively in a team environment

• Eager to learn and grow within the Actuarial profession

You will have access to:

• Hands-on exposure to a broad range of core actuarial concepts in life insurance valuations.

• Opportunities to work with experienced actuaries and collaborate across the wider business.

• Support for actuarial exam progress and professional development.

• Opportunities to improve processes,innovate,and build practical data and modelling skills.

• A flexible working environment with a focus on health and wellbeing.

• Preferential employee banking rates, competitivebenefits,and a generous leave policy that supports individual needs and actuarial exams.

• An inclusive,dynamicand high-performingteamculture.

We can be a match if you are:

• Curious and courageous: You want to understand how and why results move, and you are prepared to investigate, challenge and act.

• Obsessed with mastery : You take pride in the quality of your work and continuously build your technical and professional capability.

• A team player : You believe in the power of teams, share knowledge and build strong working relationships.

• Emotionally intelligent: You communicate thoughtfully, listenwelland build trust with colleagues and stakeholders.

• Delivery focused : You stay organised, takeownershipandmaintainquality when timelines are demanding.

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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.

12/09/26

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 fulfill 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.