Chief Actuary

Placements24; Mtubatuba Local Municipality; Hybrid; ZAR 1,500,000 - 2,100,000; Full time

Benefits offered by this job

Executive compensation package

Annual bonus

Long-term equity participation

Private medical aid

Executive pension plan

Hybrid work arrangement

Job summary

Placements24 partners with a leading insurance provider to appoint a Chief Actuary in Richards Bay, KwaZulu-Natal. This executive role oversees pricing, reserving, capital management, and financial modelling, ensuring regulatory compliance and driving profitability.

The successful candidate will lead the actuarial function, mentor a high-calibre team, engage with the Board, regulators, and stakeholders, and shape strategy for life, non-life, and health products in South Africa.

Qualifications

• Must hold Fellow of a recognized actuarial society (FIA/FSA/FASSA).
• 10–15 years of progressive actuarial experience in insurance.
• Experience in pricing, reserving, and capital management.
• Proven leadership of actuarial teams and stakeholder influence.

Responsibilities

• Oversee pricing, reserving, valuation and capital modelling for life, non-life and/or health products.
• Ensure compliance with Solvency II, IFRS 17 and SA regulatory requirements.
• Develop and implement advanced actuarial models to support strategy and decision-making.
• Lead and mentor the actuarial team; engage with Board and regulators on actuarial matters.
• Stay abreast of industry best practices and evolving actuarial tools and technologies.

Skills

Leadership

Analytical

Communication

Strategic thinking

Education

Fellow of actuarial society (FIA/FSA/FASSA)

Tools

Actuarial software

Job description

About the Role

Our client, a prominent insurance provider, is searching for a visionary and highly accomplished Chief Actuary to lead their actuarial function in Richards Bay, KwaZulu-Natal. This executive-level position is responsible for the overall actuarial strategy, including pricing, reserving, capital management, and financial modeling. The Chief Actuary will provide expert guidance on all actuarial matters, ensuring regulatory compliance and driving profitability through sound actuarial principles. The successful candidate will be a key member of the senior leadership team, contributing to the company's strategic direction and financial stability. This role is critical for maintaining the integrity and solvency of the insurance operations in Richards Bay.

Key Responsibilities

Oversee all actuarial functions, including pricing, reserving, valuation, and capital modeling for life, non-life, and/or health insurance products. Ensure compliance with all relevant actuarial standards, regulations (e.g., Solvency II, IFRS 17), and statutory requirements. Develop and implement advanced actuarial models and methodologies to support business strategy and decision-making. Provide expert actuarial advice and analysis to the Board of Directors, senior management, and other departments. Manage and mentor the actuarial team, fostering a culture of technical excellence and professional development. Lead the development and review of pricing structures to ensure market competitiveness and profitability. Oversee the calculation of technical provisions and ensure the adequacy of reserves. Develop and manage the actuarial budget and resource allocation. Represent the company in discussions with regulators, auditors, and other external stakeholders on actuarial matters. Stay abreast of industry best practices, emerging trends, and technological advancements in actuarial science.

Requirements

Fellow of a recognized actuarial society (e.g., FIA, FSA, FASSA) is mandatory. A minimum of 10-15 years of progressive experience in actuarial roles within the insurance industry. Extensive experience in pricing, reserving, and capital management. Proven track record of leadership and managing actuarial teams. Deep understanding of insurance regulations and financial reporting standards in South Africa. Strong analytical, quantitative, and problem-solving skills. Excellent communication, presentation, and interpersonal skills, with the ability to influence stakeholders at all levels. Experience with various actuarial software and modeling tools. Strategic thinking and business acumen are essential for this role based in Richards Bay, KwaZulu-Natal.

Benefits

• Our client offers an executive compensation package, including a substantial base salary, significant annual bonus, and long-term equity participation.
• Comprehensive benefits include top-tier private medical aid, an executive pension plan, and robust life and disability insurance.
• This role provides unparalleled opportunities for professional impact and career advancement.
• The company supports continuous learning through sponsored professional development, advanced training, and conference participation.
• Employees benefit from a flexible hybrid work arrangement, promoting a healthy work-life balance.
• Located in Richards Bay, the position offers a unique lifestyle opportunity within a growing coastal city.