Corporate Actuarial Specialist II

FirstRand Bank India; Johannesburg; On-site; ZAR 900,000 - 1,500,000; Full time

Job summary

FirstRand Group in Johannesburg is seeking a Corporate Actuarial Specialist II to autonomously prepare data and conduct analyses, while mentoring juniors and communicating with stakeholders, including management committees and executive teams.

This role supports the insurance partnership initiative, delivering actuarial valuation, reporting, capital management, and business analytics across the partnership cell captive, and contributing to commercial insights for sound decisions.

Qualifications

• Bachelor’s degree in actuarial science.
• 1–3 ASSA examinations remaining toward fellowship.
• Minimum 5 years actuarial experience within Life Insurance, Financial services or Actuarial Consulting.
• Experience within Cell Captive Insurance structures will be preferred.

Responsibilities

• Perform life insurance actuarial valuations, reserving, and liability assessments.
• Support IFRS 17 reporting and valuation requirements.
• Prepare SAM and Prudential Authority regulatory reporting, including capital and solvency calculations.
• Conduct capital modelling, profitability analysis, and balance sheet management activities.
• Develop actuarial forecasts and contribute to business planning processes.
• Support financial reporting, actuarial governance, audit, and regulatory engagements.
• Monitor and assess insurance risks, including underwriting, market, credit, and operational risks.
• Validate, test, and enhance actuarial models, methodologies, and processes.
• Utilise actuarial modelling tools such as Prophet, R, Python, SQL, and Excel/VBA to deliver reporting and analytical insights.
• Provide actuarial recommendations to support risk management, capital efficiency, and strategic business decision-making.

Skills

Actuarial valuations

IFRS 17 reporting

Regulatory reporting

Capital modelling

Forecasting & analytics

Education

Bachelor’s degree in actuarial science

ASSA fellowship exams remaining (1–3)

Tools

Prophet

R

Python

SQL

Excel/VBA

Job description

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 Corporate Actuarial Specialist II

As part of our team in FNB Insure , you will be surrounded by unique talents, diverse minds, and an adaptable environment that lives up to the promise of staying curious. Now is the time to imagine your potential in a team where experts come together and ignite effective change.

This role will support the insurance partnership initiative in setting up and running the actuarial support for a newly established cell captive licence. In this role, you will contribute to actuarial valuation, reporting, capital management, and business analytics activities across the insurance partnership business. You will be responsible for delivering high-quality actuarial analysis, supporting reporting obligations, enhancing actuarial models, and providing commercial insights that enable sound business decision-making.

Are you someone who can:

• Perform life insurance actuarial valuations, reserving, and liability assessments.
• Support IFRS 17 reporting and valuation requirements.
• Prepare SAM and Prudential Authority regulatory reporting, including capital and solvency calculations.
• Conduct capital modelling, profitability analysis, and balance sheet management activities.
• Develop actuarial forecasts and contribute to business planning processes.
• Support financial reporting, actuarial governance, audit, and regulatory engagements.
• Monitor and assess insurance risks, including underwriting, market, credit, and operational risks.
• Validate, test, and enhance actuarial models, methodologies, and processes.
• Utilise actuarial modelling tools such as Prophet, R, Python, SQL, and Excel/VBA to deliver reporting and analytical insights.
• Provide actuarial recommendations to support risk management, capital efficiency, and strategic business decision-making.

You will be an ideal candidate if you have:

• A bachelor’s degree in actuarial science
• Have 1 – 3 Actuarial examinations remaining toward fellowship qualification with the Actuarial Society of South Africa (ASSA)
• A minimum of 5 years Actuarial experience within Life Insurance, Financial services or Actuarial Consulting
• Experience within Cell Captive Insurance structures will be preferred.

We can be a match if you are:

• Adaptable and curious.
• Detail-oriented with strong analytical capabilities.
• Collaborative and relationship focused.
• Comfortable working in a fast-paced and evolving environment.
• Committed to continuous learning and professional development.
• An effective communicator who can translate technical findings into business insights.
• Passionate about delivering high-quality actuarial solutions that create value for the business.

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#FNB
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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.

11/09/26

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.