Senior Actuarial Specialist - Commercial Lines Pricing

Old Mutual Insure; Johannesburg; On-site; ZAR 600 000 - 900 000; Full time

Job summary

A leading insurance provider in South Africa seeks an innovative Commercial Lines Senior Actuarial Specialist. In this senior role, you will supervise junior team members and develop sophisticated pricing models for commercial insurance. The ideal candidate will have a Degree in Actuarial Science, 3–6 years of pricing experience, and strong analytical skills. Competitive compensation and opportunities for growth are offered.

Qualifications

• 3–6 years pricing experience in general insurance.
• Strong actuarial background.
• Excellent problem-solving abilities.

Responsibilities

• Supervise and mentor junior team members in pricing model development.
• Implement actuarial techniques for competitive pricing strategies.
• Monitor market trends and provide business recommendations.

Skills

Innovative thinking

Analytical skills

Statistical modeling

Python programming

Education

Degree in Actuarial Science with advanced exams

Job description

We are seeking an innovative Commercial Lines Senior Actuarial Specialist who can think outside the box and develop creative solutions for complex pricing challenges in the commercial insurance space. This senior role involves supervising junior team members while leading the development, maintenance, and monitoring of sophisticated pricing models using cutting-edge actuarial and statistical techniques.

Key Responsibilities include the following:

Team Leadership & Model Development

• Supervise and mentor junior team members in developing, maintaining, and monitoring pricing models for commercial lines products
• Implementation of cutting‑edge actuarial and statistical techniques to ensure competitive pricing strategies
• Build and maintain sophisticated rate and test models, providing strategic input into rate engine design specifications

Strategic Analysis & Business Intelligence

• Monitor market trends and provide proactive business recommendations with actionable insights
• Design and implement corrective actions to optimize business performance across the commercial portfolio
• Deliver ad hoc analytical support and conduct in‑depth investigations across various business areas

Portfolio Management & Planning

Required Skills & Qualifications

• Degree in Actuarial Science with advanced exams
• Python programming skills and coding expertise would be highly advantageous for advanced data analysis and model development
• Strong actuarial background with 3‑6 years pricing experience in general insurance
• Innovative thinking and problem‑solving abilities
• Excellent analytical and statistical modeling skills

The Recruitment Process:

• TA Interview: This will be a discussion with our Senior Talent Acquisition Specialist to give you an understanding of our business, our culture & values and more context on the role. It will also allow us the opportunity to get to know you more and ensure OMI can meet your career aspirations.
• Panel Interview: This will be with 2 members of the Senior Leadership of the Hiring Team and 1 member of the HC Leadership Team.
• Technical & Psychometric Assessments: These will depend on the role and will sometimes happen concurrently with Vetting through an external service provider & Internal Verification.
• Final Feedback.

All About OMI:

https://www.oldmutual.co.za/about/old-mutual-insure/

https://www.linkedin.com/posts/old-mutual-insure_i-work-at-old-mutual-insure-of-course-activity-7161674472469524483-w0j6?utm_source=share&utm_medium=member_desktop

Please note that, unfortunately, we cannot accept any applications after the closing date