Senior Actuarial Analyst (Life Insurance)

Placements24; George; On-site; ZAR 900,000 - 1,200,000; Full time

Job summary

Placements24 in George, Western Cape, seeks a Senior Actuarial Analyst to lead complex pricing, reserving, and capital management for life insurance products. You will build and maintain models, perform profitability analyses, and collaborate with underwriting, marketing, and finance to deliver insights and strategic recommendations.

The role demands five years of actuarial experience, strong communication skills, and proficiency with Prophet/TAI and Excel; Python/R are advantageous.

Qualifications

• Bachelor's or Master's degree in Actuarial Science, Mathematics, Statistics, or related quantitative field.
• Near-fully/fully qualified Fellow of the Actuarial Society of South Africa or equivalent.
• Minimum of 5 years of experience in life insurance, with strong actuarial modeling focus.
• Proficiency with actuarial software (Prophet, TAI) and advanced Excel.
• Experience with Python or R is advantageous.

Responsibilities

• Develop, implement, and maintain actuarial models for pricing, reserving, and capital management of life insurance products.
• Conduct detailed financial analyses and projections to assess product profitability and risk.
• Assist in development and design of new life insurance products, including pricing and solvency assessments.
• Review and update actuarial assumptions and methodologies regularly.
• Collaborate with underwriting, marketing, and finance to provide actuarial support and insights.
• Ensure compliance with IFRS 17 and other regulatory standards.
• Prepare and present actuarial reports and recommendations to senior management.
• Mentor junior staff and promote continuous learning.
• Stay updated on industry trends and new actuarial techniques.

Skills

Actuarial modeling

Analytical thinking

Communication skills

Teamwork

Education

Bachelor's or Master's degree in Actuarial Science

Tools

Prophet

TAI

Excel

Python

Job description

About the Role

Our client, a prominent insurer with a strong presence in **George, Western Cape**, is seeking a highly skilled and motivated Senior Actuarial Analyst to join their expanding team. This critical role will involve complex financial modeling, risk assessment, and pricing strategies for their life insurance products. The successful candidate will play a key role in developing and implementing innovative actuarial solutions, ensuring the long-term profitability and solvency of the business. This is an excellent opportunity for an ambitious actuary looking to make a substantial contribution to a forward‑thinking company in a beautiful coastal region. You will work closely with senior management and other departments, providing vital insights that shape business decisions and product development. The role requires a deep understanding of actuarial principles and their application in the life insurance sector. We are looking for an individual who is not only technically proficient but also a strong communicator and a strategic thinker.

Key Responsibilities

• Develop, implement, and maintain actuarial models for pricing, reserving, and capital management of life insurance products.
• Conduct detailed financial analysis and projections to assess product profitability and risk exposure.
• Assist in the development and design of new life insurance products, including pricing and solvency assessments.
• Perform regular reviews and updates of actuarial assumptions and methodologies.
• Collaborate with the underwriting, marketing, and finance teams to provide actuarial support and insights.
• Ensure compliance with regulatory requirements and accounting standards (e.g., IFRS 17).
• Prepare and present actuarial reports and recommendations to senior management.
• Mentor and guide junior actuarial staff, fostering a culture of continuous learning and improvement.
• Research and stay updated on industry trends, new regulations, and emerging actuarial techniques.

Requirements

• A Bachelor's or Master's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Completion of a significant portion of actuarial exams (e.g., near‑qualified or fully qualified Fellow of the Actuarial Society of South Africa or equivalent).
• Minimum of 5 years of relevant experience in the life insurance industry, with a strong focus on actuarial modeling and analysis.
• Proficiency in actuarial software (e.g., Prophet, TAI) and advanced Excel skills.
• Experience with programming languages such as Python or R is a significant advantage.
• Excellent analytical, quantitative, and problem‑solving abilities.
• Strong communication and interpersonal skills, with the ability to explain complex concepts to non‑technical audiences.
• Detail‑oriented with a high degree of accuracy and commitment to quality.
• Ability to work effectively both independently and as part of a team in **George, Western Cape**.

Benefits

This role comes with a highly competitive salary package, performance‑based bonuses, and comprehensive medical and retirement benefits. Our client strongly supports professional development, offering funding for actuarial exams and continuous training. Enjoy working in a stimulating environment in the scenic **George, Western Cape**, with opportunities for career advancement within a leading insurance provider.