Insurance Actuary

Placements24; Siyancuma Local Municipality; On-site; ZAR 1,000,000 - 1,600,000; Full time

Benefits offered by this job

Medical aid

Retirement fund

Professional development

Competitive salary

Job summary

Placements24 in Upington invites a highly skilled Insurance Actuary to join our sophisticated actuarial team. This role is central to the company’s financial health, involving risk assessment, pricing, and reserving to ensure profitability and solvency of insurance products.

Fully qualified actuary (FSA/FIA or equivalent) or nearing qualification with at least five years’ experience is required, with strong proficiency in Prophet or GGY AXIS and excellent communication and presentation skills.

Qualifications

• Minimum five years of actuarial experience in the insurance industry.
• Strong knowledge of life, non-life or health insurance products and regulations.
• Excellent analytical, quantitative and problem-solving skills.
• Exceptional communication and presentation abilities.

Responsibilities

• Develop, implement, and maintain actuarial models for pricing, reserving, and forecasting.
• Analyze statistical data to assess risk probabilities and financial impact on the business.
• Conduct profitability studies and provide recommendations for product development and pricing strategies.
• Ensure compliance with actuarial standards and regulatory requirements.
• Collaborate with underwriting, finance, and risk management teams.
• Prepare detailed actuarial reports and present findings to senior management.
• Contribute to development and enhancement of actuarial systems and processes.

Education

FSA / FIA or equivalent

Tools

Prophet

GGY AXIS

Job description

About the Role

Our client is seeking a highly skilled and motivated Insurance Actuary to join their sophisticated actuarial team in Upington . This position is integral to the company's financial health and strategic planning, involving complex analysis of risk, pricing, and reserving. You will utilize advanced mathematical and statistical methods to assess financial risk, ensuring the profitability and solvency of our insurance products. This role requires deep expertise within the Northern Cape financial services sector.

Key Responsibilities

• Develop, implement, and maintain actuarial models for pricing, reserving, and forecasting.
• Analyze statistical data to assess risk probabilities and financial impact on the business.
• Conduct profitability studies and provide recommendations for product development and pricing strategies.
• Ensure compliance with all relevant actuarial standards and regulatory requirements.
• Collaborate with underwriting, finance, and risk management teams.
• Prepare detailed actuarial reports and present findings to senior management.
• Contribute to the development and enhancement of actuarial systems and processes.

Requirements

• Fully qualified Actuary (e.g., FSA, FIA, or equivalent) or nearing qualification with significant progress.
• Minimum of 5 years of relevant actuarial experience in the insurance industry.
• Strong knowledge of life, non-life, or health insurance products and regulations.
• Advanced proficiency in actuarial software (e.g., Prophet, GGY AXIS) and statistical tools.
• Excellent analytical, quantitative, and problem-solving skills.
• Exceptional communication and presentation abilities.

Benefits

• Highly competitive salary commensurate with qualifications and experience.
• Full-time position with excellent benefits including medical aid and retirement fund.
• Support for ongoing professional development and continuing education.
• Opportunity to work on challenging and impactful actuarial projects.
• A dynamic and intellectually stimulating work environment.