Lead Actuarial Specialist

Placements24; Cape Town; On-site; ZAR 1,200,000 - 1,800,000; Full time

Benefits offered by this job

Competitive salary and annual bonus

Comprehensive health insurance

Retirement savings plan

Generous annual leave

Relocation assistance may be available

Professional body membership fees

Ongoing training and workshops

Job summary

Placements24 invites application for a Lead Actuarial Specialist in Cape Town to drive pricing for new and existing products, oversee liabilities valuation, and steer profitability initiatives. You will mentor a team of actuaries in a collaborative office setting.

The role requires leadership, strong communication with stakeholders, and deep actuarial knowledge to translate complex concepts into business insight for senior management.

Qualifications

• Requires Fellowship of a recognized actuarial society and 8+ years post-qualification experience.

Responsibilities

• Lead pricing model development for new and existing products across lines of business.

Skills

Leadership

Stakeholder management

Communication

Analytical thinking

Education

Fellowship of a recognized actuarial society

Tools

Prophet

Moses

TAS

R

Python

Job description

About the Role

Our client, a prominent and established insurer based in **Cape Town**, is actively seeking an experienced and highly motivated Lead Actuarial Specialist. This senior position is critical for driving actuarial strategy, managing complex projects, and mentoring a team of talented actuaries. The successful candidate will be instrumental in pricing new products, ensuring the adequacy of reserves, and providing critical insights into the financial performance and long-term viability of the company's insurance portfolios. This role demands a deep understanding of actuarial principles, a strong analytical aptitude, and exceptional leadership qualities. Based in the vibrant city of **Cape Town**, this role is office-based, offering a fully immersive and collaborative work environment. We are looking for a strategic thinker who can translate complex actuarial concepts into clear business recommendations. This is an unparalleled opportunity to shape the future of actuarial functions within a leading insurance organization and to contribute to its sustained growth and success. The ideal candidate will possess a robust technical skill set coupled with excellent communication and stakeholder management abilities.

Key Responsibilities

• Lead the development and implementation of pricing models for new and existing insurance products across various lines of business.
• Oversee the valuation of policy liabilities and ensure the adequacy of reserves in compliance with regulatory standards.
• Conduct in-depth analysis of profitability, trends, and emerging risks within the insurance portfolio.
• Manage and mentor a team of actuarial professionals, fostering their technical and professional growth.
• Collaborate with senior management, underwriting, finance, and claims departments to provide actuarial support and strategic guidance.
• Develop and refine assumptions used in actuarial models based on data analysis and market insights.
• Present complex actuarial findings and recommendations to executive leadership and other stakeholders in a clear and concise manner.
• Stay current with advancements in actuarial science, regulatory changes, and industry best practices.
• Contribute to the development of the actuarial function's strategy and operational efficiency.

Requirements

• Fellowship of a recognized actuarial society (e.g., Society of Actuaries, Institute and Faculty of Actuaries).
• A minimum of 8 years of post-qualification actuarial experience, with a significant portion in the insurance industry.
• Proven experience in pricing, reserving, or capital modeling for life, non-life, or health insurance.
• Strong technical proficiency in actuarial software (e.g., Prophet, Moses, TAS) and statistical programming languages (e.g., R, Python).
• Exceptional analytical, problem-solving, and decision-making abilities.
• Demonstrated leadership and team management skills.
• Excellent communication and presentation skills, with the ability to influence stakeholders at all levels.
• Thorough understanding of South African insurance regulations and accounting standards (e.g., IFRS 17).
• Experience in capital modeling or solvency assessments is a plus.
• Must be authorized to work in **Cape Town**.

Benefits

• Highly competitive salary and annual bonus structure.
• Comprehensive health insurance coverage and retirement savings plan.
• Generous annual leave and potential for flexible working arrangements.
• Significant opportunities for career advancement and professional development.
• Exposure to diverse and challenging actuarial projects.
• A supportive and innovative team culture.
• Relocation assistance may be available for qualified candidates.
• Membership fees for professional bodies covered.
• Regular company-sponsored training and workshops.