Actuarial Data Analyst

National Risk Managers; Gauteng; On-site; ZAR 600 000 - 800 000; Full time

Job summary

A leading company in the financial sector is seeking an Actuarial Analyst to assess risks and develop strategies to mitigate financial impacts. The role involves data analysis, risk assessment, and cross-functional collaboration to support strategic decision-making. Ideal candidates will have a degree in Actuarial Science and relevant experience in financial reporting and modeling. Strong analytical skills and knowledge of statistical software are essential.

Qualifications

• Minimum three years of experience in financial reporting for Life insurance companies.
• Registration with relevant professional bodies of Actuarial Scientists of SA.

Responsibilities

• Analyze statistical data to create analyses on product performance.
• Develop estimates for the probability and cost of events affecting product sustainability.
• Create mathematical models to predict outcomes and assess risks.

Skills

Statistics

Probability

Calculus

Analytical skills

Strong communication skills

Education

Degree in Actuarial Science

Tools

Power BI

Tableau

Job description

Assess the financial impact of potential risks using statistics, financial theories, and mathematics.

Estimate probabilities of the success of certain business decisions, forecast trends, project the probability and costs of potential negative events such as natural disasters or accidents, and design insurance policies or business strategies to reduce the company's financial risks.

Key Tasks :

1. Data Analysis and Interpretation :

• Study statistical data to create analyses on product performance.
• Analyse data to identify trends and patterns that impact decision-making.
• Support the actuarial first-line team in the preparation of statutory returns.
• Support the team in pricing, profit testing, and viability analysis of new and existing products.
• Assist in producing financial projections for budgeting, ORSA, and other risk reporting requirements.
• Use predictive models to project outcomes such as future events, claims ratios, risks, or financial performance.

Risk Assessment and Management :

• Develop estimates for the probability and cost of events affecting product and business sustainability.
• Assess financial risks using statistical and mathematical techniques.
• Propose strategies or solutions to mitigate risks.

Actuarial Modelling and Forecasting :

• Create mathematical models to predict outcomes and assess risks.
• Develop models to predict claims scenarios to inform solvency and liquidity requirements.
• Provide forecasts to support policy decisions.

Cross-functional Collaboration :

• Work with economists, accountants, compliance officers, and financial advisors to align strategies.
• Collaborate with other departments to integrate data-driven insights into actionable plans.

Communication and Reporting :

• Generate visual tools like charts and tables to present findings.
• Present complex data clearly to non-technical audiences.
• Provide actionable recommendations and support regulatory reporting.

Strategic Decision Support :

• Analyze reports to recommend next steps.
• Support decisions with evidence-based insights.
• Monitor outcomes and refine models as needed.

Stakeholder Engagement :

• Engage with senior management, clients, regulators, and auditors.
• Communicate technical findings effectively to non-technical audiences.

Documentation and Compliance :

• Maintain detailed documentation of methodologies, models, and assumptions.
• Ensure compliance with industry standards and regulations.

Minimum Qualifications:

• A degree in Actuarial Science (SAQA ACCREDITED).
• Minimum three years of experience in financial reporting for Life insurance companies.
• Registration with relevant professional bodies of Actuarial Scientists of SA.

Essential Experience :

• 3-5 years in multiple actuarial functions such as pricing, reserving, risk management, economic analysis, and financial modeling.
• Experience using actuarial insights for business strategies, underwriting, or financial planning.
• Participation in high-level decision-making, including product development, sustainability, or M&A.

Knowledge and Skills :

• Statistics, probability, calculus knowledge.
• Strong communication skills.
• Analytical skills.
• Knowledge of regulations like Solvency II, IFRS 17, etc.
• Experience with statistical software and programming.
• Knowledge of business and financial concepts.
• Organizational skills for managing multiple projects.
• Knowledge of predictive analytics, machine learning, and data visualization tools like Power BI or Tableau.

Please Note : If you do not receive a reply within two weeks of your application, consider it unsuccessful.