Junior Actuarial Pricing Analyst

FNB South Africa; Randburg; On-site; ZAR 350,000 - 550,000; Full time

Benefits offered by this job

Flexible working environment

Health and wellbeing

Preferential employee banking rates

Generous leave for actuarial exams

Job summary

FNB South Africa in Randburg is seeking an Actuarial Specialist I to prepare data and conduct basic analyses under supervision, building a foundation in pricing and portfolio insights.

You will collaborate with underwriting, claims, finance, and product teams to validate models, monitor trends, and support pricing decisions for short-term insurance products.

This entry role offers learning opportunities and actuarial exam support.

Qualifications

• BSc in Actuarial Science required; Honours preferred.
• Five actuarial exams completed.
• 2–3 years in pricing or actuarial role in insurance, investments or banking preferred.
• Proficiency in Excel; knowledge of pricing tools is advantageous.

Responsibilities

• Assist in building, updating, and validating actuarial pricing models for short-term insurance products (motor, property, liability, legal and value-added).
• Support data preparation and analysis for pricing reviews, claims investigations, burning cost analyses, and profitability assessments.
• Contribute to development of new product features, rating structures, and review of existing products.
• Compile and interpret claims, exposure, and financial data to support pricing and portfolio decisions.
• Monitor loss ratios, claims frequency/severity trends, and impact of rate changes on portfolio performance.
• Prepare reports and presentations for internal stakeholders with key findings and recommendations.
• Collaborate with underwriting, claims, finance, and product teams to ensure pricing assumptions are robust.
• Assist in regulatory requirements and pricing-related compliance, including Policyholder Protection Rules and premium review requirements.
• Participate in actuarial development and exam progress.

Skills

Analytical thinking

Communication skills

Team player

Learning mindset

Education

BSc Actuarial Science

Honours preferred

Tools

Power BI

Python

SQL

SAS

R

Emblem/Radar or GLM software

Job description

FNB South Africa in Randburg is seeking an Actuarial Specialist I to prepare data and conduct basic analyses under supervision, building a foundation in pricing and portfolio insights.

You will collaborate with underwriting, claims, finance, and product teams to validate models, monitor trends, and support pricing decisions for short-term insurance products.

This entry role offers learning opportunities and actuarial exam support.