Senior Actuarial Analyst - Pricing Models

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

Benefits offered by this job

Medical aid

Pension fund

Professional development support

Job summary

Placements24 is partnering with a forward-thinking international insurance group to recruit a Senior Actuarial Analyst for a remote-based role. You will develop, validate, and implement pricing models across general and life insurance lines, using large datasets and advanced techniques.

You will mentor junior analysts, collaborate with product teams, and ensure compliance with regulatory standards while advancing pricing strategies in a flexible, remote-first environment.

Qualifications

• Bachelor’s degree in actuarial science or related quantitative field.
• Fellowship (or near-fellowship) of a recognized actuarial society.

Responsibilities

• Develop, validate, and implement pricing models for a range of insurance products.
• Perform data analysis and segmentation to identify drivers of risk and profitability.
• Validate existing pricing models and recommend adjustments based on performance and market feedback.
• Collaborate with product development teams to design and price new insurance products.
• Stay abreast of regulatory changes and industry best practices in actuarial science and pricing.
• Communicate complex actuarial concepts clearly to non-actuarial stakeholders, including senior management.
• Use R, Python, SQL for data manipulation and modeling.
• Mentor junior actuarial analysts and contribute to technical excellence.

Skills

Analytical thinking

Data analysis

Statistical modeling

Remote collaboration

Education

Bachelor's degree in Actuarial Science, Statistics, or Mathematics

Fellowship (or near-fellowship) of a recognized actuarial society

Tools

R

Python

SQL

Job description

About the Role

Our client, a forward-thinking international insurance group, is seeking a highly analytical and experienced Senior Actuarial Analyst to join their remote-based actuarial team. This role is instrumental in developing, validating, and implementing sophisticated pricing models across various insurance product lines. You will work with large datasets, advanced statistical techniques, and cutting-edge modeling software to ensure our client's products remain competitive and profitable. This is an exceptional opportunity for a seasoned actuarial professional looking to contribute significantly to strategic pricing decisions within a flexible, remote-first work environment. The role offers direct impact on business strategy and product development.

Key Responsibilities

• Develop, implement, and maintain actuarial models for pricing various insurance products, including general and life insurance.
• Perform data analysis and segmentation to identify key drivers of risk and profitability.
• Validate existing pricing models and recommend adjustments based on performance monitoring and market feedback.
• Collaborate with product development teams to design and price new insurance products.
• Stay abreast of regulatory changes and industry best practices in actuarial science and pricing.
• Communicate complex actuarial concepts and findings clearly to non-actuarial stakeholders, including senior management.
• Utilize advanced statistical software and programming languages (e.g., R, Python, SQL) for data manipulation and modeling.
• Assist in the development and enhancement of actuarial tools and processes.
• Mentor junior actuarial analysts and contribute to a culture of technical excellence.
• Support the reserving and financial reporting functions as required.

Requirements

• A Bachelor's degree in Actuarial Science, Statistics, Mathematics, or a related quantitative field.
• Fellowship (or near-fellowship) of a recognized actuarial society (e.g., Actuarial Society of South Africa, Institute and Faculty of Actuaries).
• A minimum of 5 years of relevant actuarial experience, with a strong focus on pricing and modeling.
• Proficiency in statistical modeling software and programming languages such as R, Python, SQL, or similar.
• In-depth understanding of insurance principles, product structures, and regulatory requirements.
• Excellent analytical, problem-solving, and critical thinking skills.
• Strong communication and presentation skills, with the ability to explain technical concepts to diverse audiences.
• Proven ability to work independently and manage projects effectively in a remote setting.
• Experience with machine learning techniques applied to insurance pricing is a significant advantage.
• Must possess a reliable internet connection and a suitable remote work environment.

Benefits

This fully remote position offers significant flexibility and the ability to work from anywhere in South Africa. Our client provides a highly competitive salary and performance-based bonus structure. A comprehensive benefits package includes medical aid, a generous pension fund, and professional development support for actuarial exams and continuing education. This role offers substantial opportunities for career advancement within a leading international insurance group. Join our innovative and collaborative team and shape the future of insurance pricing.