Senior Actuarial Analyst (Life Insurance)

Placements24; LegKraal Gate; Hybrid; ZAR 900,000 - 1,500,000; Full time

Benefits offered by this job

Study benefits

Performance bonuses

Medical aid

Provident fund

Life insurance

Sponsorship for actuarial exams

Professional training

Career advancement

Annual leave

Wellness initiatives

Job summary

Placements24 in Mahikeng, North West, seeks a Senior Actuarial Analyst specializing in Life Insurance to join their growing team. You will handle pricing, reserving, IFRS 17 modeling, and risk assessment; mentor juniors; collaborate with IT; support strategic decision-making.

This role offers a competitive salary, study benefits, and the option for remote work to promote work-life balance.

Qualifications

• Bachelor's degree in Actuarial Science or related quantitative field.
• Progress towards/completion of actuarial exams (SOA/IFoA).
• Minimum 4 years actuarial experience in life insurance.
• Proficiency in actuarial software (Prophet, ALIS) and data analysis tools (Excel, SQL, R, Python).

Responsibilities

• Perform actuarial calculations for pricing new life insurance products and maintaining existing ones.
• Assist in development and implementation of actuarial models for valuation and financial reporting (IFRS 17).
• Conduct regular reserving exercises and ensure adequacy of life insurance liabilities.
• Analyze profitability of product lines and identify improvements.
• Support risk management by assessing and quantifying life insurance risks.
• Prepare actuarial reports and presentations for management and regulators.
• Collaborate with IT to ensure data integrity and system requirements.
• Stay updated on industry developments and regulatory changes.
• Mentor junior analysts and contribute to knowledge sharing.
• Participate in special projects and ad-hoc analyses.

Skills

Analytical thinking

Problem-solving

Communication skills

Teamwork

Education

Bachelor's degree in Actuarial Science / Mathematics / Statistics

Progress towards or completion of actuarial exams (SOA/IFoA)

Tools

Prophet

ALIS

Excel

SQL

R

Python

Job description

About the Role

Our client is seeking a talented and driven Senior Actuarial Analyst specializing in Life Insurance to join their growing team in **Mahikeng, North West**. This role will involve a range of actuarial tasks, including pricing, reserving, financial modeling, and risk assessment for life insurance products. The ideal candidate will have a strong quantitative background, excellent analytical skills, and a thorough understanding of actuarial principles and practices. You will work closely with the actuarial team and other departments to support strategic decision-making and ensure the financial health of the company's life insurance portfolio. This is a fantastic opportunity to advance your actuarial career in **Mahikeng**.

Key Responsibilities

• Perform actuarial calculations for pricing new life insurance products and maintaining existing ones.
• Assist in the development and implementation of actuarial models for valuation and financial reporting (e.g., IFRS 17).
• Conduct regular reserving exercises and ensure the adequacy and accuracy of life insurance liabilities.
• Analyze the profitability of various product lines and identify areas for improvement.
• Support the risk management function by assessing and quantifying life insurance risks.
• Prepare actuarial reports and presentations for management and regulatory bodies.
• Collaborate with IT and other departments to ensure data integrity and system requirements.
• Stay abreast of industry developments, regulatory changes, and new actuarial techniques.
• Mentor junior analysts and contribute to the team's knowledge sharing.
• Participate in special projects and ad-hoc analysis as required.

Requirements

• A Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards or completion of actuarial exams (e.g., Society of Actuaries, Institute and Faculty of Actuaries).
• A minimum of 4 years of actuarial experience, with a focus on life insurance.
• Proficiency in actuarial software (e.g., Prophet, ALIS) and data analysis tools (e.g., Excel, SQL, R, Python).
• Strong understanding of life insurance products, principles, and regulations.
• Excellent analytical, problem-solving, and critical thinking skills.
• Good communication and interpersonal skills, with the ability to explain technical concepts clearly.
• Ability to work independently and collaboratively in a team environment.
• Knowledge of the South African insurance market is an advantage for this role in **Mahikeng, North West**.

Benefits

Our client offers a competitive salary package, including study benefits and annual performance bonuses. Benefits include comprehensive medical aid, a provident fund, and life insurance. The company is committed to employee development, offering sponsorship for actuarial exams, professional training, and opportunities for career advancement. This role offers the flexibility of remote work, promoting a healthy work-life balance. **Mahikeng** provides a growing economic environment. Employees will also enjoy a generous annual leave allowance and access to wellness initiatives.