Lead Actuarial Analyst - Life Insurance

Placements24; East London; On-site; ZAR 1,200,000 - 1,600,000; Full time

Benefits offered by this job

Bonus program

Medical aid

Retirement annuity

Group life assurance

Job summary

Placements24 is seeking a Lead Actuarial Analyst for life insurance in East London, Eastern Cape. The role leads pricing, reserving, financial projections, and strategic actuarial input while mentoring junior actuaries.

You will collaborate with finance, product development, and risk management, stay current with SAM regulations, and drive innovation in actuarial modeling using Prophet, AXIS, R, and Python. A Fellow/near-Fellow of ASSA with 7+ years of experience is required.

Qualifications

• Fellow or near-Fellow of a recognized actuarial society (e.g., ASSA).
• 7+ years of progressive life insurance actuarial experience.
• Expertise in pricing, reserving and financial modeling for life products.
• Strong knowledge of SA regulations (SAM).
• Proven leadership and ability to mentor juniors.
• Proficiency in actuarial software and programming (Prophet, AXIS, R, Python).
• Excellent communication and presentation skills.

Responsibilities

• Lead pricing model development for life products.
• Perform complex reserving calculations per regulatory standards.
• Conduct financial projections, experience analyses, and solvency assessments.
• Provide actuarial input into product development, marketing and underwriting.
• Mentor and develop a team of junior actuaries.
• Collaborate with finance, product development, and risk management teams.
• Present findings to senior management and stakeholders.
• Ensure accuracy and integrity of actuarial models and data.
• Stay updated on regulatory changes and market trends.
• Contribute to overall actuarial strategy and risk framework.

Skills

Pricing

Reserving

Leadership

Data analysis

Communication

Education

Fellow/near-Fellow of the actuarial society (ASSA)

Tools

Prophet

AXIS

R

Python

Job description

About the Role

Our client, a distinguished insurer operating within the vibrant landscape of East London, Eastern Cape , is actively seeking to appoint a Lead Actuarial Analyst specializing in Life Insurance. This pivotal role requires a seasoned professional with a strong quantitative background and proven leadership capabilities. The Lead Actuarial Analyst will be responsible for driving key actuarial initiatives, developing pricing models, reserving calculations, and providing strategic insights to support business growth and profitability. The successful candidate will play a crucial role in mentoring a team of junior actuaries and analysts, fostering a culture of innovation and technical excellence. This is an exceptional opportunity for an ambitious actuary to make a substantial impact within a reputable organization and contribute to the long-term success of our client's life insurance operations in East London . We are looking for an individual who is passionate about actuarial science, possesses a keen eye for detail, and excels at translating complex data into actionable business recommendations. Embrace this chance to lead and innovate in the heart of the Eastern Cape's financial sector.

Key Responsibilities

• Lead the development and implementation of pricing models for new and existing life insurance products.
• Perform complex reserving calculations in compliance with regulatory requirements and accounting standards.
• Conduct financial projections, experience analyses, and solvency assessments for the life insurance business.
• Provide strategic actuarial input into product development, marketing, and underwriting strategies.
• Mentor, coach, and develop a team of junior actuarial professionals.
• Collaborate with cross‑functional teams, including finance, product development, and risk management.
• Present complex actuarial findings and recommendations to senior management and stakeholders.
• Ensure the accuracy, integrity, and efficiency of actuarial models and data.
• Stay current with advancements in actuarial techniques, regulatory changes, and market trends in the life insurance industry.
• Contribute to the overall actuarial strategy and risk management framework of the company.

Requirements

• Fellow or near-Fellow of a recognized actuarial society (e.g., Actuarial Society of South Africa).
• A minimum of 7 years of progressive experience in the life insurance industry, with a significant focus on actuarial functions.
• Demonstrated expertise in pricing, reserving, and financial modeling for life insurance products.
• Strong understanding of South African insurance regulations (e.g., Solvency Assessment and Management - SAM).
• Proven leadership and team management skills, with the ability to inspire and guide junior actuaries.
• Excellent analytical, quantitative, and problem‑solving abilities.
• Proficiency in actuarial software and programming languages (e.g., Prophet, AXIS, R, Python).
• Strong communication and presentation skills, with the ability to convey technical information clearly to diverse audiences.
• High level of professionalism, ethical conduct, and commitment to accuracy.
• Experience working with large datasets and complex financial models.

Benefits

• Highly competitive salary and performance-based bonus structure.
• Comprehensive benefits package including medical aid, retirement annuity, and group life assurance.
• Significant opportunities for professional growth and career advancement within a leading insurer in East London .
• Exposure to challenging and high‑impact projects.
• Support for continued professional development and actuarial examinations.
• A stimulating work environment that values innovation and technical expertise.