Senior Actuarial Analyst - Life Insurance

Placements24; Durban; On-site; ZAR 900,000 - 1,600,000; Full time

Benefits offered by this job

Medical and dental coverage

Pension fund contributions

Study leave for actuarial exams

Relocation assistance to Durban

Annual bonus and incentives

Paid time off and company holidays

Career advancement opportunities

Job summary

Placements24 in Durban, KwaZulu-Natal, seeks a Senior Actuarial Analyst to apply advanced actuarial techniques to pricing, reserving and experience analysis for life insurance products. In this in-office role you will develop models in Prophet/AXIS, run mortality and expense studies, and prepare reports for senior management and regulators.

The successful candidate will have 4+ years in life actuarial work, progress toward actuarial exams, strong Excel/db skills, and a collaborative approach in

Qualifications

• Progress toward or completion of actuarial examinations (SOA/IFoA).
• Minimum 4 years actuarial experience, preferably in life insurance.
• Proficient in Prophet/AXIS and statistics tools (R, Python).
• Advanced Excel and database management.
• Strong analytical, communication and problem-solving skills.

Responsibilities

• Perform pricing calculations for life insurance products and manage existing lines.
• Develop and maintain actuarial models for reserving, solvency and profitability.
• Conduct experience studies on mortality, morbidity, lapse rates and expenses.
• Prepare actuarial reports for senior management, regulators and stakeholders.
• Support development of new actuarial systems and methodologies.
• Monitor key metrics and trends, providing insights and recommendations.
• Collaborate with product development, finance and risk management.
• Mentor junior staff and participate in peer reviews.
• Ensure compliance with South Africa actuarial standards and regulations in KwaZulu-Natal.

Skills

Analytical thinking

Problem-solving

Communication

Team collaboration

Attention to detail

Education

Actuarial examinations in progress (SOA/IFoA)

Tools

Prophet

AXIS

Python

R

Excel

SQL

Job description

About the Role

Our client, a distinguished name in the insurance sector, is actively seeking a Senior Actuarial Analyst to join their esteemed team based in **Durban**, KwaZulu-Natal. This is a critical, in-office role where you will apply advanced actuarial techniques to analyze and manage risks associated with life insurance products. You will be responsible for pricing, reserving, and experience analysis, playing a pivotal role in the financial health and strategic planning of the company. This position demands a strong analytical mindset, excellent problem-solving capabilities, and a thorough understanding of actuarial principles and South African regulations. The ideal candidate will possess a passion for data-driven insights and a commitment to delivering accurate and valuable actuarial evaluations. Join a collaborative team that values innovation and professional growth within the dynamic insurance landscape of **Durban**.

Key Responsibilities

• Perform complex actuarial calculations for pricing new life insurance products and maintaining existing ones.
• Develop and maintain actuarial models for reserving, solvency, and profitability analysis.
• Conduct regular experience studies on mortality, morbidity, lapse rates, and expenses to inform pricing and reserving assumptions.
• Prepare actuarial reports for senior management, regulatory bodies, and other stakeholders.
• Assist in the development and implementation of new actuarial systems and methodologies.
• Monitor and analyze key actuarial metrics and trends, providing insights and recommendations.
• Collaborate with other departments, including product development, finance, and risk management, on actuarial matters.
• Ensure compliance with all relevant actuarial standards, regulations, and guidelines specific to the **KwaZulu-Natal** region.
• Mentor and support junior actuarial staff, contributing to their technical and professional development.
• Participate in peer reviews of actuarial work to ensure quality and accuracy.

Requirements

• Progress towards or completion of actuarial examinations (e.g., Society of Actuaries, Institute and Faculty of Actuaries).
• Minimum of 4 years of relevant actuarial experience, preferably within the life insurance industry.
• Strong proficiency in actuarial modeling software (e.g., Prophet, AXIS) and statistical analysis tools (e.g., R, Python).
• Advanced knowledge of Microsoft Excel and database management.
• Excellent analytical, quantitative, and problem-solving skills.
• Strong understanding of life insurance products, principles, and regulations in **South Africa**.
• Effective written and verbal communication skills, with the ability to explain complex actuarial concepts clearly.
• Detail-oriented with a high degree of accuracy.
• Ability to work collaboratively in a team environment and independently manage projects in **Durban**.
• Commitment to ethical conduct and professional standards.

Benefits

• Competitive base salary commensurate with experience and examination progress.
• Annual performance-based bonus and incentives.
• Comprehensive medical and dental coverage.
• Generous pension fund contributions.
• Study leave and financial support for actuarial examinations.
• Opportunities for career advancement and specialization.
• Paid time off and company holidays.
• Relocation assistance for candidates moving to **Durban**.
• A supportive and intellectually stimulating work environment.