Actuarial Specialist I

FirstRand Life Assurance Ltd; Sandton; On-site; ZAR 350,000 - 550,000; Full time

Benefits offered by this job

Health and wellbeing focus

Flexible work environment

Preferential employee banking rates

Job summary

FirstRand Life Assurance Ltd. is seeking an Actuarial Specialist I to build a strong foundation in life insurance valuations. You will apply core actuarial concepts to real-world reporting, reserving, modelling, and experience analysis with guidance from senior actuaries.

You will work with a collaborative team, progressing to own high-quality analyses and clear stakeholder communications as you gain experience and progress through actuarial exams.

Qualifications

• BSc in Actuarial Science is required.
• 1–2 years of relevant life insurance/ banking experience is preferred.
• Solid exam progress with at least 5 exemptions is expected.
• Strong analytical and problem-solving skills with attention to detail.
• Proficiency in Excel; knowledge of statistical tools (SQL, SAS, Prophet) is advantageous.
• Excellent written and verbal communication; able to collaborate well with teams.

Responsibilities

• Assist with monthly actuarial valuations and reporting across life products.
• Run and update actuarial cash flow models for various products.
• Support demographic basis setting and experience investigations (mortality, morbidity, lapses).
• Prepare, transform, reconcile and interrogate data for models and reports.
• Analyze movements in results and explain drivers to stakeholders.
• Prepare monthly management information and presentations for stakeholders.

Skills

Analytical thinking

Problem solving

Stakeholder communication

Team collaboration

Attention to detail

Education

BSc 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 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:

• 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.

#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. 29/09/26

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.

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.