Actuarial Specialist II - Short Term Insurance

FNB South Africa; Randburg; On-site; ZAR 800,000 - 1,200,000; Full time

Benefits offered by this job

Flexible working environment

Preferential employee banking rates

Competitive salary and benefits

Job summary

FNB South Africa in Randburg is seeking an Actuarial Specialist II to develop and maintain pricing models for Short Term Insurance, perform data analysis, and support strategic pricing initiatives.

Ideally you have a BSc Actuarial Science, completed at least eight exams, 4–5 years in pricing, and strong Excel and actuarial software skills, with the ability to present findings to stakeholders and influence pricing strategy across personal and commercial lines.

Qualifications

• Bachelor-level actuarial education with exams in progress or completed
• Strong analytical skills and attention to detail for pricing models
• Proficient in Excel and actuarial software, able to present findings

Responsibilities

• Support development, updating, and validation of actuarial pricing models for short-term insurance products.
• Perform complex data preparation and analysis for pricing studies and profitability assessments.
• Drive development of new product features and provide reviews of existing products with market insights.
• Compile, interpret, and communicate data to support pricing decisions.
• Prepare reports and presentations for internal stakeholders, summarising key findings and recommendations.

Skills

Analytical thinking

Communication

Independent worker

Team collaboration

Education

BSc Actuarial Science

BSc Honours in Actuarial Science

Eight Actuarial Exams completed

Tools

SQL

SAS

Python

R

Power BI

Emblem

Radar

Job description

To autonomously handle data preparation and conduct basic to intermediate analyses, while executing complex analyses under supervision. Managing independent projects, providing mentorship to junior colleagues, and effectively communicating with stakeholders, including delivering presentations to management committees and executive teams.

Hello, future Actuarial Specialist II - Short Term Insurance

Role Purpose

The Actuarial Specialist will play a pivotal role in Short Term Insurance Pricing Team, focusing on developing and maintaining pricing models, premium calculations, and product designs. This position is ideal for candidates with some actuarial experience who are ready to take on more responsibility, work more independently, and contribute to strategic pricing initiatives.

Key Responsibilities

• Support the development, updating, and validation of actuarial pricing models for a diverse range of short-term insurance products including both personal and commercial lines.
• Conduct complex data preparation and analysis for pricing studies, experience investigations, and profitability assessments.
• Drive the development of new product features and provide critical reviews of existing products, incorporating market-specific insights and emerging trends.
• Compile, interpret, and communicate statistical and financial data to underpin robust pricing decisions.
• Prepare comprehensive reports and presentations for internal stakeholders, summarising key findings and strategic recommendations.

You will be an ideal candidate if you

• Have a BSc Actuarial Science degree
• Preferred qualification: BSc Honours in Actuarial Science
• Successfully completed at least eight Actuarial Exams
• Has a minimum of 4–5 years’ relevant experience within Pricing roles in Insurance, Investments, or Banking
• Commercial lines or Personal lines will be an advantage.
• Strong analytical and problem-solving skills, with meticulous attention to detail and the ability to handle complex datasets
• Proficiency in Microsoft Excel, and familiarity with actuarial software (e.g., SQL, SAS, Python, R, Power BI, Emblem, Radar or other GLM software)
• Relevant experience with data visualisation tools will be advantageous
• Effective written and verbal communication skills, with the ability to present technical findings to non-technical audiences
• Proven ability to work independently and collaboratively in a diverse, cross‑functional team environment
• Keen interest in continuous learning and professional growth within the actuarial profession

You Will Have Access To

• Opportunities to network and collaborate
• Opportunities to innovate
• Flexible working environment
• Focus on health and wellbeing
• Preferential employee banking rates
• Competitive salary and benefits package
• A generous leave policy to cater for your individual needs and actuarial exams
• Support for actuarial exam progress and professional development
• Opportunity to work with experienced actuaries and gain exposure to diverse short‑term insurance products across personal and commercial lines
• Inclusive and dynamic team culture
• An opportunity to influence Pricing strategy and Product innovation

We Can Be a Match If You Are

• Curious & courageous – you're driven by always wanting to know more and learn more and you're brave enough to take action
• Obsessed with mastery – you know what it takes to become good at what you do and are constantly pushing yourself to achieve this
• A team player – you believe in the power of teams, building and leveraging your networks
• Emotionally intelligent – you are able to connect with people to build trust

Important Closing Date Note

19/09/26

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.