Insurance Actuarial Analyst

Placements24; Richards Bay; Remote; ZAR 600,000 - 900,000; Full time

Benefits offered by this job

Fully remote work arrangement

Actuarial study support

Career growth opportunities

Job summary

Placements24, on behalf of a respected insurance firm, is seeking an Actuarial Analyst for a fully remote role. You will develop models to forecast liabilities, set premiums, and help ensure solvency, with exposure to pricing, reserves and product development.

The role requires progress towards actuarial exams, at least 3 years' actuarial experience in insurance, strong analytical and programming skills (R/Python/SQL) and proficiency with Prophet, RADAR or GGY Axis.

Qualifications

• Progress towards or completion of actuarial examinations.
• Minimum 3 years in an actuarial role within insurance.
• Strong analytical, mathematical, and statistical modeling skills.
• Proficiency in actuarial software and programming languages.

Responsibilities

• Develop and maintain mathematical models for pricing insurance products.
• Calculate and set reserves for future claims liabilities.
• Analyze historical data to forecast outcomes and trends.
• Perform profitability analysis and assist in pricing adjustments.
• Contribute to development of new insurance products and features.
• Ensure compliance with actuarial standards and regulations.
• Prepare reports and present findings to management and other departments.
• Assist in financial forecasting and solvency management.

Skills

Actuarial exams progress

Analytical thinking

Statistical modeling

Education

Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field

Tools

Prophet

RADAR

GGY Axis

R

Python

SQL

Job description

About the Role

Our client, a highly respected insurance firm, is seeking a talented Actuarial Analyst to join their team, offering the flexibility of a fully remote work arrangement. This role is integral to assessing and managing financial risks associated with insurance products. You will perform complex mathematical and statistical analyses to forecast future liabilities, set appropriate premiums, and ensure the financial solvency of the company. Your expertise will guide pricing strategies, reserve calculations, and product development. This remote position requires strong analytical capabilities, proficiency in actuarial software, and the ability to communicate complex findings clearly to stakeholders. You will contribute significantly to the financial health and strategic planning of our client's operations in the South African insurance market. This is an excellent opportunity for an ambitious actuary to advance their career in a flexible, remote-first environment.

Key Responsibilities

• Develop and maintain mathematical models for pricing insurance products (e.g., life, health, short-term).
• Calculate and set adequate reserves for future claims liabilities.
• Analyze historical data to assess trends and forecast future outcomes.
• Perform profitability analysis and recommend adjustments to pricing or product design.
• Contribute to the development of new insurance products and features.
• Ensure compliance with actuarial standards of practice and regulatory requirements.
• Prepare reports and present findings to management, underwriting, and other departments.
• Assist in the financial forecasting and solvency management of the company.
• Stay current with advancements in actuarial science and insurance industry best practices.
• Collaborate with IT and data science teams to enhance analytical tools and processes.

Requirements

• Progress towards or completion of actuarial examinations (e.g., via Actuarial Society of South Africa or equivalent).
• Minimum of 3 years of experience in an actuarial role within the insurance industry.
• Strong analytical, mathematical, and statistical modeling skills.
• Proficiency in actuarial software (e.g., Prophet, RADAR, GGY Axis) and programming languages (e.g., R, Python, SQL).
• Excellent problem-solving abilities and attention to detail.
• Effective communication skills, both written and verbal, to explain complex technical concepts.
• Ability to work independently and manage workload effectively in a remote environment.
• Understanding of South African insurance regulations and market dynamics is advantageous.
• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.

Benefits

• Competitive salary and comprehensive benefits package, including support for actuarial studies.
• Fully remote work arrangement, offering excellent work-life balance.
• Significant opportunities for professional growth and career progression within the insurance actuarial field.
• Engage in challenging and impactful financial modeling and analysis.
• Be part of a leading insurance organization contributing to its financial stability.