Actuarial Specialist – Product and Pricing

Rand Mutual - RMA; Johannesburg; Hybrid; ZAR 600 000 - 800 000; Full time

Job summary

A leading insurance company in Johannesburg is seeking an Actuarial Specialist for Product and Pricing. This role involves developing life pricing models, providing actuarial insights, and supporting business operations. You'll work closely with the executive team and manage stakeholder relationships while ensuring regulatory compliance. The position offers a competitive salary, flexible work arrangements, and opportunities for professional development.

Benefits

Flexible Work Arrangements

Professional Development Opportunities

Qualifications

• 5 - 10 years’ experience in life/medical insurance.
• Progress towards 8-10 Technical Actuarial Exams.

Responsibilities

• Develop and maintain life pricing models.
• Prepare monthly reports of Key Performance Indicators.
• Mentor, supervise, and train staff.

Skills

Actuarial Support

Stakeholder Management

Regulatory Compliance

Education

Actuarial Degree

Job description

THE JOB AT A GLANCE

Actuarial Specialist – Product and Pricing

Reporting into the Actuarial Manager – Product and Pricing, the incumbent will be responsible for the development and maintenance of life pricing models and providing actuarial support and insights to the Life business. An integral part of the role will also be supporting business with insights and producing reports for the executive and various committees.

WHAT WILL YOU DO?

• Actuarial business support to RML
• Provide insights on various actuarial metrics to the executive and management team
• Assist in product development and pricing modelling process and implementation
• Develop and maintain and pricing models
• Reporting and stakeholder management
• Manage relationships within the company and with stakeholders
• Prepare and submit monthly reports of the Key Performance indicators for the actuarial reporting function
• Monitor actual to expected on a monthly basis
• Monthly reporting of risks on risk register
• Effectively assess and report on problem areas
• Regulatory compliance
• Ensure that all work performed in terms of required standard and regulation
• Ensure that all company policies and procedures are adhered to
• Ensure timely submission of various periodical reports
• Mentor, supervise and train staff
• Assist, participate in or provide related support for any ad hoc projects as and when required

WHAT YOU'LL BRING TO THE TABLE?

• Actuarial degree
• Progress towards actuarial exams – 8-10 Technical Actuarial Exams
• 5 - 10 years’ experience
• Previous life insurance /medical insurance experience
• SAM reporting experience
• Life and group life product and pricing experience and models

WHAT WILL YOU GET IN RETURN?

We offer great opportunities for personal and professional development in a stable company that’s 130 years strong. The role comes with a competitive salary package and various benefits. Flexible work arrangements (combination of remote and in the office). Furthermore, you will be a part of a dedicated group of colleagues who value teamwork and collaboration.

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. Kindly note that should you not receive a response within 21 days please consider your application unsuccessful.