Senior Insurance Actuary

Placements24; Pretoria; Hybrid; ZAR 1,000,000 - 1,600,000; Full time

Benefits offered by this job

Hybrid work model

Annual bonus

Professional development support

Health insurance

Retirement benefits

Job summary

Placements24 in Pretoria seeks a Senior Insurance Actuary to join our esteemed team. The role involves developing complex actuarial models for pricing, reserving, and forecasting, and to support strategic decision‑making across lines of business.

You will mentor junior actuaries, ensure regulatory compliance, and collaborate with underwriting, claims, and finance. A Fellowship or near‑Fellowship, plus 6+ years in insurance, are required; proficiency in Prophet, R, Python, and SQL is essential.

Qualifications

• Bachelor’s or Master’s degree in Actuarial Science, Mathematics, Statistics, or related quantitative field.
• Fellowship or near‑fellowship status with a recognized actuarial society (e.g., Actuarial Society of South Africa).
• 6+ years of progressive actuarial experience in the insurance industry.
• Advanced proficiency in actuarial software (Prophet, R, Python, SQL) and MS Excel.

Responsibilities

• Develop, implement, and maintain complex actuarial models for pricing, reserving, and financial forecasting.
• Analyze insurance liabilities and calculate reserves for claims and unearned premiums.
• Conduct experience studies on mortality, morbidity, lapse, and expense trends.
• Assist in developing and pricing new insurance products for profitability.
• Evaluate financial impact of regulatory changes and new initiatives.
• Collaborate with underwriting, claims, and finance to provide actuarial insights.
• Prepare reports and presentations for senior management and regulators.
• Mentor junior actuaries and analysts; ensure compliance with actuarial standards.

Skills

Prophet

R

Python

SQL

Analytical skills

Communication

Education

Actuarial degree (BSc/MSc)

Fellowship or near-fellowship with actuarial society

Tools

MS Excel

Job description

About the Role Our client, a prominent and highly respected insurance corporation, is seeking an accomplished Senior Insurance Actuary to join their esteemed team in **Pretoria**. This integral role involves leveraging advanced mathematical and statistical techniques to assess financial risks, price insurance products accurately, and ensure the long‑term solvency and profitability of the company. You will be instrumental in developing sophisticated models, conducting in‑depth analyses, and providing critical insights to support strategic decision‑making across various business lines. The successful candidate will demonstrate exceptional analytical prowess, a thorough understanding of actuarial principles, and a commitment to excellence within the **Gauteng** financial sector. Join us in **Pretoria** and contribute to shaping the financial future of a leading insurance institution.

Key Responsibilities

• Develop, implement, and maintain complex actuarial models for pricing, reserving, and financial forecasting.
• Perform analysis of insurance liabilities, including the calculation of reserves for claims and unearned premiums.
• Conduct experience studies to analyze mortality, morbidity, lapse, and expense trends.
• Assist in the development and pricing of new insurance products, ensuring technical feasibility and profitability.
• Evaluate the financial impact of regulatory changes and new business initiatives.
• Work closely with underwriting, claims, and finance departments to provide actuarial support and insights.
• Prepare reports and presentations for senior management, regulatory bodies, and other stakeholders.
• Mentor and guide junior actuaries and analysts within the team.
• Ensure compliance with all relevant actuarial standards and regulations.

Requirements

• A Bachelor's or Master'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 progressive actuarial experience in the insurance industry.
• Advanced proficiency in actuarial software (e.g., Prophet, R, Python, SQL) and MS Excel.
• Strong understanding of insurance products, financial modeling, and risk management.
• Excellent analytical, problem‑solving, and critical thinking skills.
• Effective communication and presentation skills, with the ability to explain complex concepts to non‑actuarial audiences.
• Experience in the **Pretoria** or **Gauteng** insurance market is preferred.
• Ability to work collaboratively in a team environment and manage multiple projects.

Benefits

• Highly competitive salary package commensurate with experience and qualifications.
• Generous annual bonus and long‑term incentive opportunities.
• Comprehensive health, retirement, and life insurance benefits.
• Support for actuarial examinations and professional development.
• Opportunity to work on challenging and impactful projects.
• Hybrid work model offering flexibility and work‑life balance.
• State‑of‑the‑art office facilities in **Pretoria**.
• Annual leave and company holidays.