Insurance Actuarial Analyst

Placements24; Vereeniging; Hybrid; ZAR 420,000 - 660,000; Full time

Benefits offered by this job

Competitive salary package

Study/exam support and leave

Medical and retirement benefits

Career growth opportunities

Exposure to diverse insurance products

Job summary

Placements24 seeks an Insurance Actuarial Analyst to join our client’s team in Vereeniging, Gauteng. You will perform pricing, reserving, modeling, and risk analysis for diverse insurance products, contributing to strategic financial planning.

The ideal candidate has a quantitative background, ongoing actuarial progress, and 1–3 years of experience. You will collaborate across underwriting, finance, and product teams in a dynamic office environment.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related quantitative field.
• Progress towards actuarial examinations with several exams passed is essential.
• 1–3 years of relevant experience in an actuarial role within the insurance industry.
• Strong analytical, problem-solving, and quantitative skills.

Responsibilities

• Perform actuarial calculations for pricing new insurance products and reviewing existing ones.
• Assist in the estimation of insurance reserves, ensuring adequacy and regulatory compliance.
• Develop and maintain financial models for forecasting, valuation, and risk analysis.
• Conduct experience investigations (e.g., mortality, morbidity, lapse rates) to inform assumptions.
• Support the risk management function by quantifying and analyzing insurance-related risks.
• Prepare detailed reports and presentations for senior management and regulatory bodies.
• Collaborate with underwriting, finance, and product development teams to provide actuarial insights.
• Contribute to development and implementation of new actuarial methodologies and software.
• Stay current with actuarial best practices, industry developments, and regulatory changes impacting the Vereeniging insurance market.
• Assist in peer reviews of actuarial work performed by other team members.

Skills

Analytical skills

Problem solving

Quantitative analysis

Education

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

Tools

Prophet

AXIS

Excel

Job description

About the Role

Our client, a leading player in the insurance industry, is seeking a talented and motivated Insurance Actuarial Analyst to join their sophisticated team based in **Vereeniging, Gauteng**. This role is integral to the financial health and strategic planning of the company. You will be involved in complex actuarial tasks, including pricing, reserving, financial modeling, and risk management for various insurance products. The ideal candidate will possess strong quantitative skills, a solid foundation in actuarial science, and a commitment to professional development towards actuarial qualification. This position offers a unique opportunity to work on challenging projects, collaborate with cross-functional teams, and contribute to significant business decisions in the **Vereeniging** area. We encourage individuals with a passion for data, analysis, and problem-solving to apply.

Key Responsibilities

• Perform actuarial calculations for pricing new insurance products and reviewing existing ones.
• Assist in the estimation of insurance reserves, ensuring adequacy and compliance with regulatory standards.
• Develop and maintain financial models for forecasting, valuation, and risk analysis.
• Conduct experience investigations (e.g., mortality, morbidity, lapse rates) to inform assumptions.
• Support the risk management function by quantifying and analyzing insurance-related risks.
• Prepare detailed reports and presentations for senior management and regulatory bodies.
• Collaborate with underwriting, finance, and product development teams to provide actuarial insights.
• Contribute to the development and implementation of new actuarial methodologies and software.
• Stay current with actuarial best practices, industry developments, and regulatory changes impacting the **Vereeniging** insurance market.
• Assist in peer reviews of actuarial work performed by other team members.

Requirements

• A Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial examinations (e.g., passed several actuarial exams) is essential.
• 1-3 years of relevant experience in an actuarial role within the insurance industry.
• Strong analytical, problem-solving, and quantitative skills.
• Proficiency in at least one actuarial software package (e.g., Prophet, AXIS) and advanced Excel skills.
• Familiarity with programming languages such as R, Python, or VBA is a plus.
• Excellent communication skills, both written and verbal, with the ability to explain complex technical concepts to non-technical audiences.
• Ability to work effectively both independently and collaboratively in a team environment in **Vereeniging**.
• High attention to detail and a commitment to accuracy.
• Eligibility to work in South Africa.

Benefits

• Competitive salary package with performance-based increases.
• Support for actuarial exam fees and study leave.
• Comprehensive medical and retirement benefits.
• Opportunities for significant career growth within the actuarial field.
• Exposure to a diverse range of insurance products and challenges in **Vereeniging**.
• Modern office environment and collaborative team culture.