Junior Actuarial Analyst - Life Insurance

Placements24; Midrand; On-site; ZAR 250,000 - 360,000; Full time

Benefits offered by this job

Study support for actuarial exams

Medical aid or provident funds

Career progression opportunities

Job summary

Placements24 invites applications for a Junior Actuarial Analyst role in Midrand, Gauteng. You will work with senior actuaries on pricing, reserving, financial modelling, and product development within the life insurance sector, building a solid foundation for actuarial qualifications.

This entry-level position offers hands-on experience, study support for actuarial exams, and a pathway to professional progression in a collaborative office environment.

Qualifications

• A recent graduate with a degree in Actuarial Science, Mathematics, Statistics, or a closely related quantitative field.
• Demonstrated strong academic performance, particularly in modules related to actuarial principles and quantitative methods.
• A clear intention and commitment to pursue actuarial professional qualifications (e.g., FIA, ASA, FASSA).
• Proficiency in mathematical and statistical concepts.
• Experience with programming or data analysis tools such as Excel, SQL, R, or Python is advantageous.
• Strong analytical, problem-solving, and logical reasoning skills.
• Excellent attention to detail and accuracy in data handling and calculations.
• Good communication and interpersonal skills, with the ability to work effectively in a team.
• Resides within commuting distance of Midrand, Gauteng .

Responsibilities

• Assist in the development and maintenance of actuarial models for pricing, reserving, and financial reporting for life insurance products.
• Perform data analysis and manipulation to support actuarial calculations and investigations.
• Help in the preparation of regulatory returns and internal reports related to actuarial functions.
• Conduct experience investigations (e.g., mortality, morbidity, lapse) and analyze results.
• Support the pricing of new life insurance products and the review of existing ones.
• Participate in the valuation of liabilities and the assessment of capital requirements.
• Collaborate with other departments, such as finance, product development, and risk management.
• Contribute to the continuous improvement of actuarial processes and systems.
• Undertake actuarial exams as part of the professional qualification process.

Skills

Strong analytical skills

Attention to detail

Communication skills

Education

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

Tools

Excel

SQL

R

Python

Job description

About the Role

Our client, a prestigious insurance firm, is actively seeking a motivated and aspiring Junior Actuarial Analyst to join their dedicated team in Midrand, Gauteng . This role is designed for individuals passionate about quantitative analysis and seeking to build a solid foundation in the actuarial field within the life insurance sector. You will work closely with senior actuaries on a variety of critical tasks, including pricing, reserving, financial modeling, and product development. This position offers an unparalleled opportunity to gain hands on experience, contribute to significant projects, and progress towards actuarial qualifications. We are committed to supporting your professional growth and development in a challenging yet rewarding environment. Be part of a team that shapes the financial future of our policyholders.

Key Responsibilities

• Assist in the development and maintenance of actuarial models for pricing, reserving, and financial reporting for life insurance products.
• Perform data analysis and manipulation to support actuarial calculations and investigations.
• Help in the preparation of regulatory returns and internal reports related to actuarial functions.
• Conduct experience investigations (e.g., mortality, morbidity, lapse) and analyze results.
• Support the pricing of new life insurance products and the review of existing ones.
• Participate in the valuation of liabilities and the assessment of capital requirements.
• Collaborate with other departments, such as finance, product development, and risk management.
• Contribute to the continuous improvement of actuarial processes and systems.
• Undertake actuarial exams as part of the professional qualification process.

Requirements

• A recent graduate with a degree in Actuarial Science, Mathematics, Statistics, or a closely related quantitative field.
• Demonstrated strong academic performance, particularly in modules related to actuarial principles and quantitative methods.
• A clear intention and commitment to pursue actuarial professional qualifications (e.g., FIA, ASA, FASSA).
• Proficiency in mathematical and statistical concepts.
• Experience with programming or data analysis tools such as Excel, SQL, R, or Python is advantageous.
• Strong analytical, problem-solving, and logical reasoning skills.
• Excellent attention to detail and accuracy in data handling and calculations.
• Good communication and interpersonal skills, with the ability to work effectively in a team.
• Resides within commuting distance of Midrand, Gauteng .

Benefits

• Our client provides a competitive starting salary and comprehensive study support, including time off and financial assistance for actuarial exams.
• Employees receive a full benefits package, encompassing medical aid, a provident fund, and life assurance.
• The company culture encourages professional growth and provides a clear career path for ambitious individuals.
• You will gain invaluable experience working alongside seasoned professionals in a supportive and collaborative office environment.
• Opportunities for internal mobility and exposure to various facets of the insurance business are available.