Actuarial Specialist - JG7 -JHB

Sanlam Limited; Sandton; On-site; ZAR 900,000 - 1,200,000; Full time

Job summary

Sanlam Limited is seeking an Actuarial Specialist - Pricing to own technical pricing solutions for allocated products and channels. You will manage data, model development, rating-engine deployment, and monitoring to support profitable pricing decisions.

Responsibilities include applying GLMs/GBMs, validating models, and delivering insightful pricing actions. Collaboration with underwriting, claims, and technology teams is essential for successful outcomes.

Qualifications

• Bachelor’s degree in Actuarial Science, Statistics, or a similar quantitative field.
• Eight actuarial exemptions or examinations, or equivalent demonstrated actuarial capability.
• 3–7 years’ actuarial or pricing experience, ideally in short-term insurance pricing.
• Experience developing, validating, documenting, and implementing risk-based pricing models end-to-end.

Responsibilities

• Own pricing models for products and channels, from design to deployment and monitoring.
• Apply actuarial and statistical techniques, including GLMs and GBMs, using Python, R, and SQL.
• Challenge model assumptions with underwriting, claims, and market insights; drive pricing improvements.
• Lead data integrity, data source exploration, and automation across the pricing lifecycle.
• Mentor juniors and build collaboration with underwriting, claims, product, and tech teams.

Skills

Actuarial pricing

GLMs

GBMs

Python

R

SQL

Model validation

Stakeholder management

Education

Bachelor’s degree in Actuarial Science

Actuarial exemptions

Tools

Python

R

SQL

Job description

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As the Actuarial Specialist - Pricing, you will own technical pricing solutions for allocated products and channels. You will be accountable for the full delivery lifecycle - from data preparation and model development through rating-engine implementation, monitoring, and corrective action - and for ensuring that implemented models support sound risk selection and sustainable profitability.

What will you be responsible for?

• Own technical pricing models for allocated products and channels, including their design, development, validation, implementation, monitoring, maintenance, and continuous improvement.
• Apply appropriate actuarial and statistical techniques, including GLMs, GBMs, and credibility methods, using tools such as Python, R, and SQL.
• Challenge model assumptions, structures, and performance, incorporating underwriting, claims, market, and business insights.
• Drive innovation by testing emerging modelling techniques and tools.
• Manage model documentation, peer review, validation, version control, sign-off, and audit readiness.

Pricing Performance and Commercial Outcomes

• Own Actual versus Expected (AvE) and pricing performance monitoring for allocated products and channels, including the development and maintenance of relevant dashboards.
• Take accountability for the profitability and rate adequacy outcomes of implemented models, identify emerging deterioration, and drive corrective pricing action.
• Translate complex analysis into clear commercial insights, decisions, and actionable pricing recommendations, articulating the implications and trade-offs to stakeholders.

Rating Implementation, Data, and Innovation

• Take responsibility for the integrity and fitness for purpose of pricing data, proactively identifying data-quality issues and coordinating their resolution with relevant teams.
• Investigate new internal and external data sources and assess their value for pricing, risk differentiation, and portfolio management.
• Introduce automation and innovation across data preparation, modelling, rating, implementation, and monitoring to improve quality, scalability, control, and speed of delivery.

Delivery and Technical Leadership

• Project-manage pricing initiatives and model deliveries by establishing delivery plans, coordinating dependencies and stakeholders, prioritising delivery items, managing risks and issues, and achieving agreed milestones.
• Mentor and provide technical guidance to junior analysts, reviewing work and building their technical, commercial, and delivery capability.
• Build effective relationships across underwriting, claims, product, distribution, technology, and portfolio teams, influencing stakeholders to support sound pricing decisions.

What do you need?

• Bachelor’s degree in Actuarial Science, Statistics, or a similar quantitative qualification.
• A minimum of eight actuarial exemptions or examinations, or equivalent demonstrated actuarial capability.
• Three to seven years’ relevant actuarial or pricing experience, preferably within a short-term insurance pricing environment.
• Demonstrated experience developing, validating, documenting, and implementing risk-based pricing models end to end, including rating-engine deployment.
• Strong technical pricing and modelling capability; GLMs are essential, with GBMs or other advanced techniques advantageous.
• Proficiency in SQL and at least one of Python or R, with the ability to build reproducible and automated analytical processes.
• Strong understanding of pricing performance metrics, including AvE, rate adequacy, loss ratio, profitability, conversion, and retention.
• Strong analytical judgement and the ability to translate technical results into practical commercial decisions.
• Proven project-management and delivery skills, including planning, prioritisation, dependency management, stakeholder coordination, and delivery across multiple workstreams with limited oversight.

Build a successful career with us

We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth.Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.

Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.

WHO ARE WE

Santam is Africa’s leading general insurance company with a market share exceeding 24% in South Africa, representing R41.3bn in GWP in 2024. With over 106 years of experience and the data depth to match we offer a great opportunity to transform complex information into powerful insights that shape products, pricing, and the future of insurance throughout the industry.

We’ve been named Top Employer for four consecutive years, recognised for our progressive people practices and unwavering commitment to helping our employees thrive, grow, and perform with purpose.

We’re looking for smart, curious minds who want to dig deep into data, ask bold questions, and build strategies that drive real meaningful change in the business.