Senior Actuarial Analyst - Insurance

Placements24; Mbombela (Nelspruit); Hybrid; ZAR 900,000 - 1,300,000; Full time

Benefits offered by this job

Remote work flexibility

Medical aid

Pension fund

Life assurance

Job summary

Placements24 is seeking a Senior Actuarial Analyst for a prominent insurance group in Nelspruit. You will lead pricing, reserving and profitability analyses, build models, conduct valuations, and provide insights to drive financial performance.

Collaborate with product development, finance and risk management, mentor juniors, stay current with Solvency II/IFRS 17, and leverage Prophet, ResQ, R and Python to deliver robust actuarial solutions with a focus on accuracy and business impact.

Qualifications

• Actuarial qualification or progress towards such.
• Minimum 5 years actuarial experience in insurance.
• Strong modeling software knowledge (Prophet/ResQ/R/Python).
• Understanding of Solvency II and IFRS 17.

Responsibilities

• Develop, implement, and maintain actuarial models for pricing, reserving, and financial projections.
• Perform experience analyses to inform projections.
• Calculate policy reserves and ensure regulatory compliance.
• Conduct profitability studies and advise on margin strategies.
• Assist in development of new insurance products.
• Collaborate with risk management to quantify insurance risks.
• Support financial reporting and regulatory filings with actuarial data.
• Mentor junior actuarial staff.

Skills

Actuarial modelling

Prophet

ResQ

R

Python

IFRS 17

Communication

Education

Actuarial qualification

Tools

Prophet

ResQ

R

Python

Job description

About the Role

Our client, a prominent insurance group with operations extending to Nelspruit , is seeking an accomplished Senior Actuarial Analyst. This role is central to the pricing, reserving, and profitability analysis of insurance products. The successful candidate will leverage advanced analytical techniques and actuarial software to develop models, conduct valuations, and provide critical insights that drive business strategy and financial performance. This is a superb opportunity for a motivated and technically skilled actuary to contribute significantly within a forward-thinking insurance company. You will collaborate with various departments, including product development, finance, and risk management, to ensure the optimal financial health of our insurance offerings. The role requires a deep understanding of actuarial principles and their application in the insurance context.

Key Responsibilities

• Develop, implement, and maintain actuarial models for pricing, reserving, and financial projections.


• Perform experience analyses to assess the accuracy of assumptions and inform future projections.


• Calculate policy reserves and ensure compliance with regulatory requirements.


• Conduct profitability studies and recommend strategies for margin enhancement.


• Assist in the development and refinement of new insurance products.


• Collaborate with risk management to assess and quantify insurance risks.


• Support financial reporting and regulatory filings with actuarial data and analysis.


• Stay abreast of industry trends, new actuarial techniques, and regulatory changes.


• Mentor and support junior actuarial staff.

Requirements

• Actuarial qualification or progress towards such (e.g., completed or in progress with a recognized actuarial society).


• Minimum of 5 years of actuarial experience in the insurance industry (life, non-life, or health).


• Strong proficiency in actuarial modeling software (e.g., Prophet, ResQ, R, Python).


• Solid understanding of insurance product features, valuation techniques, and regulatory frameworks (e.g., Solvency II, IFRS 17).


• Excellent analytical, mathematical, and problem-solving skills.


• Strong communication and presentation skills, with the ability to explain complex actuarial concepts clearly.


• Ability to work independently and collaboratively in a team environment.


• High attention to detail and commitment to accuracy.

Benefits

This role offers a highly competitive salary, complemented by a performance-related bonus and actuarial study support. Comprehensive benefits include medical aid, a pension fund, and life assurance. The role allows for remote work flexibility, providing a great work-life balance. Opportunities for professional growth, continuous learning, and career advancement within the actuarial field are extensive. Our client fosters an environment of innovation and technical excellence, making this an exciting place to build your career.