Actuarial Specialist I

FNB South Africa; Johannesburg; On-site; ZAR 350,000 - 550,000; Full time

Job summary

FNB South Africa invites applications for an Actuarial Specialist I. You will build a foundation in life insurance valuations, applying core actuarial concepts to reporting, reserving, modelling and experience analysis under supervision.

Collaborate with actuaries to deliver high-quality analyses and clear stakeholder communications. The role offers exposure to core actuarial concepts, guidance from experienced actuaries, and opportunities for professional development in a dynamic team

Qualifications

• BSc in Actuarial Science or equivalent.
• 1–2 years’ experience in Life Insurance, Insurance or Banking.
• Progress with at least 5 actuarial exemptions.
• Strong analytical and problem-solving abilities with attention to detail.
• Proficiency in Excel; SQL/SAS/Prophet helpful.

Responsibilities

• Assist with monthly actuarial valuations and reporting.
• Run and update cash flow models for life insurance products.
• Support demographic studies and experience investigations.
• Prepare and reconcile data for models and reporting.

Skills

Analytical mindset

Attention to detail

Communication skills

Team player

Education

BSc Actuarial Science

Tools

Excel

SQL

SAS

Prophet

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

Build a strong foundation in 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

• Assist with monthly actuarial valuations and reporting across a range of 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 with colleagues across Corporate Actuarial, Finance, Data, Pricing and other business areas to resolve issues and deliver reporting outcomes.
• Contribute to process improvements and automation that 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

You Will Be An Ideal Candidate If You

• Have a BSc Degree in Actuarial Science
• 1 – 2 years' relevant experience within a Life Insurance, Insurance or Banking environment
• 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 (e.g. SQL, SAS, Prophet) 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

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, competitive benefits, and a generous leave policy that supports individual needs and actuarial exams.
• An inclusive, dynamic and high-performing team culture.

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, listen well and build trust with colleagues and stakeholders.
• Delivery focused: You stay organised, take ownership and maintain quality when timelines are demanding.

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.