Senior Actuarial Analyst - Pricing

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

Benefits offered by this job

Hybrid work arrangement

Medical aid

Retirement annuity contributions

Performance bonuses

Professional development

Job summary

Placements24 is seeking a Senior Actuarial Analyst to join the Pricing team in Rustenburg, North West. The role focuses on developing and refining pricing models for a diverse product portfolio, leveraging Prophet/ResQ and advanced analytics to drive profitability and competitive positioning.

You will analyze data, identify pricing drivers, and present findings to senior management while mentoring junior analysts and ensuring regulatory compliance.

Qualifications

• Progress towards or completion of actuarial examinations (e.g., ASA, FIA, FASSA).
• Minimum of 4 years of relevant actuarial experience with a focus on pricing or reserving.
• Strong proficiency in actuarial software (Prophet, ResQ) and statistical tools (R, Python, SAS).
• Solid understanding of insurance products, market dynamics, and regulatory frameworks.
• Excellent written and verbal communication, with ability to convey complex concepts clearly.

Responsibilities

• Develop, implement, and maintain sophisticated pricing models for various insurance products.
• Analyze historical data, market trends, and competitor pricing to inform pricing strategies.
• Conduct profitability analyses and sensitivity testing on pricing structures.
• Collaborate with product development, marketing, and underwriting to align pricing with business objectives.
• Prepare comprehensive reports and presentations on pricing recommendations for senior management.
• Ensure compliance with regulatory requirements and actuarial best practices.
• Mentor and guide junior actuarial analysts, fostering growth and development.
• Stay current with advancements in actuarial science and data analytics.
• Contribute to data quality improvements and analytical tooling.

Skills

Pricing analytics

Advanced analytical thinking

Communication

Independent working

Project management

Team collaboration

Education

Actuarial exams progress (ASA/FIA/FASSA)

Tools

Prophet

ResQ

SQL

Python

R

SAS

Job description

About the Role

Our client, a leading insurer with a significant presence in South Africa, is seeking an ambitious and highly analytical Senior Actuarial Analyst to join their Pricing team in Rustenburg, North West. This role is central to developing and refining pricing models for our client's diverse product portfolio, ensuring competitive positioning and financial sustainability. The successful candidate will leverage advanced statistical techniques and actuarial software to analyze vast datasets, identify key pricing drivers, and provide strategic insights to senior management. This is a challenging opportunity to contribute significantly to the company's profitability and market strategy in Rustenburg, North West. The hybrid work model offers flexibility while maintaining essential team collaboration and access to in-office resources, supporting a balanced professional life.

Key Responsibilities

• Develop, implement, and maintain sophisticated pricing models for various insurance products.
• Analyze historical data, market trends, and competitor pricing to inform pricing strategies.
• Conduct profitability analyses and sensitivity testing on pricing structures.
• Collaborate with product development, marketing, and underwriting teams to ensure pricing aligns with business objectives.
• Prepare comprehensive reports and presentations on pricing recommendations and findings for senior management.
• Ensure compliance with regulatory requirements and actuarial best practices.
• Mentor and guide junior actuarial analysts, fostering their technical and professional growth.
• Stay current with advancements in actuarial science, statistical modeling, and insurance industry developments.
• Contribute to the validation and enhancement of data quality and analytical tools.

Requirements

• Progress towards or completion of actuarial examinations (e.g., ASA, FIA, FASSA).
• A minimum of 4 years of relevant actuarial experience, with a strong focus on pricing or reserving.
• Advanced proficiency in actuarial software (e.g., Prophet, ResQ) and statistical analysis tools (e.g., R, Python, SAS).
• Strong understanding of insurance products, market dynamics, and regulatory frameworks.
• Exceptional analytical, quantitative, and problem-solving skills.
• Excellent written and verbal communication skills, with the ability to articulate complex technical concepts clearly.
• Proven ability to work independently and manage multiple projects simultaneously.
• Strong attention to detail and a commitment to accuracy.
• Experience with data manipulation and database querying (SQL).
• Ability to thrive in a fast-paced, deadline-driven environment.
• Located in or able to commute to Rustenburg, North West.

Benefits

• Highly competitive salary package reflecting extensive experience and qualifications.
• Significant performance-based bonuses and incentive schemes.
• Support for actuarial exam completion and professional development.
• Comprehensive medical aid, life cover, and retirement annuity contributions.
• Hybrid work arrangement for optimal work-life integration.
• Generous annual leave and paid time off.
• Opportunities to work on challenging and impactful projects.
• Access to advanced analytical tools and technologies.
• Mentorship from experienced actuarial professionals.
• Regular professional development workshops and industry conferences.