Junior Actuarial Pricing Analyst

Fnbnamibia; Randburg; On-site; ZAR 420,000 - 700,000; Full time

Benefits offered by this job

Flexible working environment

Health and wellbeing focus

Generous leave policy for actuarial-ex

Actuarial exam support

Competitive salary and benefits

Job summary

FirstRand Group is seeking an Actuarial Specialist I to prepare data and conduct basic analyses under supervision. The role involves pricing models for motor, property, liability, and other short-term insurance products, plus data preparation for reviews and profitability assessments.

Ideal candidates hold a BSc in Actuarial Science, with honours preferred, and have 2–3 years’ pricing experience. Strong Excel skills and knowledge of BI/tools like Python/SQL are advantageous.

Qualifications

• Bachelor's degree in Actuarial Science; Honours preferred.
• Five actuarial exams completed.
• 2–3 years' pricing or corporate actuarial experience in short-term insurance, insurance, investments or banking preferred.
• Strong analytical and problem-solving skills with attention to detail.
• Proficient in Microsoft Excel; experience with Power BI, Python, SQL, SAS, R or Emblem/Radar software advantageous.

Responsibilities

• Assist in building, updating, and validating actuarial pricing models for short-term insurance products.
• Support preparation and analysis of data for pricing reviews, claims experience 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 management decisions.
• Assist in monitoring loss ratios, claims frequency/severity trends, and impact of rate changes on portfolio performance.
• Prepare reports and presentations for internal stakeholders, summarising key findings and recommendations.
• Collaborate with underwriting, claims, finance, and product development teams to ensure pricing assumptions are robust.
• Assist in regulatory requirements and compliance standards relevant to pricing activities, including Policyholder Protection Rules.
• Participate in ongoing professional development and actuarial exam progress.

Skills

Actuarial pricing

Data analysis

Excel

Power BI

Python

SQL

SAS

R

Emblem/Radar

GLM software

Communication

Teamwork

Education

BSc Actuarial Science

Honours in Actuarial Science

Tools

Power BI

Python

SQL

SAS

R

Emblem/Radar

Job description

FirstRand Group is seeking an Actuarial Specialist I to prepare data and conduct basic analyses under supervision. The role involves pricing models for motor, property, liability, and other short-term insurance products, plus data preparation for reviews and profitability assessments.

Ideal candidates hold a BSc in Actuarial Science, with honours preferred, and have 2–3 years’ pricing experience. Strong Excel skills and knowledge of BI/tools like Python/SQL are advantageous.