Senior Actuarial Analyst - Pricing & Reserving

Placements24; Randburg; Hybrid; ZAR 900,000 - 1,400,000; Full time

Benefits offered by this job

Remote-friendly

Professional development

Generous leave

Wellness programs

Job summary

Placements24 in Randburg is seeking a Senior Actuarial Analyst to lead pricing and reserving in a remote-friendly role within the insurance sector. You will develop pricing models for new and existing products and drive reserving practices with rigorous analyses.

This is a fully remote role with responsibilities spanning data analysis, stakeholder communication, and regulatory compliance. The ideal candidate is an actuary with FASSA or FIA, 5+ years in pricing and reserving, and strong skills in

Qualifications

• Fellow of the Actuarial Society of SA or equivalent.
• Minimum 5 years in actuarial pricing and reserving.
• Proficient in actuarial tools: Prophet, R, Python, SQL.
• Strong understanding of insurance principles and regulatory context.

Responsibilities

• Develop, implement, and maintain pricing models for insurance products.
• Analyze claims data and market trends to inform pricing.
• Perform actuarial reserving across all lines of business.
• Prepare actuarial reports for senior management and regulators.
• Collaborate with underwriting, claims, and finance to provide insights.

Skills

Pricing

Reserving

Analytical skills

Communication

Mentorship

Education

FASSA or FIA

Tools

Prophet

R

Python

SQL

Job description

About the Role

Our client, a respected leader in the insurance industry, is seeking a highly proficient Senior Actuarial Analyst to join their esteemed team. This pivotal role is based in Randburg and requires a seasoned professional with extensive experience in both pricing and reserving. You will be instrumental in developing and refining pricing models for new and existing insurance products, ensuring competitiveness and profitability. Concurrently, you will contribute to robust reserving practices, accurately estimating future liabilities and ensuring financial stability. This role is fully remote, offering you the flexibility to work from anywhere while contributing to critical actuarial functions. The ideal candidate possesses strong analytical and mathematical skills, a deep understanding of actuarial software, and excellent communication abilities to convey complex findings to stakeholders. Join a company that values expertise, fosters professional growth, and is committed to sound financial management and innovation in the insurance sector. This is an exceptional opportunity for an actuarially qualified professional to make a substantial impact on the company's financial health and strategic direction.

Key Responsibilities

• Develop, implement, and maintain pricing models for various insurance products, considering market conditions, competition, and profitability targets.
• Analyze claims data, policyholder behavior, and market trends to inform pricing strategies.
• Perform actuarial reserving for all lines of business, ensuring adequacy and compliance with regulatory requirements.
• Conduct experience analyses and evaluate the profitability of existing business lines.
• Collaborate with underwriting, claims, and finance departments to provide actuarial insights and support decision-making.
• Prepare detailed actuarial reports and presentations for senior management and regulatory bodies.
• Utilize advanced actuarial software and programming languages (e.g., R, Python, Prophet) for data analysis and modeling.
• Stay abreast of regulatory changes, industry best practices, and emerging actuarial techniques.
• Mentor junior actuarial staff and contribute to the development of a high-performing actuarial team.
• Assist in the development and implementation of new insurance products.

Requirements

• Fellow of the Actuarial Society of South Africa (FASSA) or equivalent international qualification (e.g., FIA, FSA).
• Minimum of 5 years of relevant actuarial experience, with a strong focus on pricing and reserving.
• Proven expertise in using actuarial software (e.g., Prophet, R, Python, SQL) for data analysis and modeling.
• In-depth understanding of insurance principles, product design, and financial regulations.
• Exceptional analytical, quantitative, and problem-solving skills.
• Strong communication and interpersonal skills, with the ability to explain complex actuarial concepts clearly.
• Ability to work independently, manage multiple projects, and meet strict deadlines in a remote environment.
• High level of attention to detail and accuracy.
• Demonstrated experience in mentorship and team collaboration is a plus.
• Familiarity with capital modeling and Solvency II principles is advantageous.

Benefits

• Highly attractive salary and bonus structure commensurate with qualifications and experience.
• Comprehensive medical aid and retirement fund benefits.
• Fully remote working arrangement providing maximum flexibility.
• Generous professional development allowance for CPD and further study.
• Opportunities for career advancement within a leading insurance group.
• Supportive and collaborative team culture focused on mutual success.
• Access to cutting-edge actuarial software and tools.
• Generous annual leave and company holidays.
• Life and disability insurance coverage.
• Employee wellness programs and initiatives.