Senior Actuarial Specialist - Life Insurance

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

Benefits offered by this job

Competitive salary

Job summary

Placements24 is seeking a Senior Actuarial Specialist to join a leading Life Insurance team in Pretoria, Gauteng. You will shape pricing, valuations and product strategy, ensuring solvency and profitability while aligning with regulatory standards, including IFRS 17.

The role requires fellowship or near-fellowship, 6+ years in life insurance, strong modelling skills (Excel, R, Python, VBA) and excellent communication. It offers a hybrid work model and mentorship responsibilities.

Qualifications

• Bachelor's degree in Actuarial Science required.
• Fellowship or near-fellowship status with a recognized actuarial society (ASSA).
• Minimum 6 years of life insurance experience focusing on valuation, pricing, or reserving.
• Strong modelling skills with actuarial software; advanced Excel; programming in R/Python/VBA.
• Deep knowledge of SA insurance regs and IFRS 17.
• Excellent analytical, problem-solving and communication abilities.

Responsibilities

• Perform complex actuarial valuations, including statutory and embedded value calculations.
• Develop, test, and implement pricing models for life insurance products.
• Conduct profitability analyses and make product recommendations.
• Assist in building/validating actuarial models for risk, capital and forecasting.
• Collaborate with finance, product development and risk management teams.
• Stay updated with actuarial standards and regulatory requirements.

Skills

Analytical thinking

Communication skills

Problem solving

Financial intuition

Education

Bachelor's degree in Actuarial Science

Fellowship/near-fellowship with Actuarial Society (e.g., ASSA)

Tools

Excel

R

Python

VBA

Job description

Senior Actuarial Specialist - Life Insurance

Our client, a renowned financial services institution with a strong presence in Pretoria, Gauteng, is actively seeking a highly accomplished Senior Actuarial Specialist to join their Life Insurance division. This role is integral to the company's strategic planning, product development, and financial health. The ideal candidate will possess a deep understanding of actuarial principles and their application in the life insurance sector, with a proven ability to manage complex projects and provide insightful analysis. This position offers a stimulating environment where you can leverage your expertise to drive innovation and ensure the long‑term solvency and profitability of the life insurance business. The role incorporates a hybrid working model, blending office‑based collaboration with remote work flexibility.

Key Responsibilities

• Perform complex actuarial valuations, including statutory and embedded value calculations for life insurance products.
• Develop, test, and implement pricing models for new and existing life insurance products.
• Conduct profitability analysis and provide recommendations for product enhancement and strategic adjustments.
• Assist in the development and validation of actuarial models for risk management, capital adequacy, and financial forecasting.
• Collaborate with other departments, including finance, product development, and risk management, to ensure alignment on actuarial matters.
• Stay current with evolving actuarial standards, regulatory requirements, and industry best practices.
• Mentor and guide junior actuaries and actuarial students within the team.
• Prepare clear and concise reports and presentations for senior management and regulatory bodies.

Requirements

• A Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Fellowship or near-fellowship status with a recognized actuarial society (e.g., Actuarial Society of South Africa).
• A minimum of 6 years of experience in the life insurance industry, with a strong focus on valuation, pricing, or reserving.
• Expertise in actuarial software and modeling techniques, including advanced Excel and programming languages like R, Python, or VBA.
• In-depth knowledge of South African insurance regulations and accounting standards (e.g., IFRS 17).
• Excellent analytical, problem‑solving, and critical thinking skills.
• Strong communication and presentation skills, with the ability to convey complex technical information to non‑technical audiences.
• Proven ability to work independently and collaboratively in a team environment.

Benefits

Our client offers a highly competitive salary