Tech-Driven Actuarial Modelling Leader

Rand Mutual - RMA; Johannesburg; Hybrid; ZAR 2,000,000 - 3,200,000; Full time

Benefits offered by this job

Flexible work arrangement

Competitive salary

Benefits package

Job summary

Rand Mutual Assurance seeks a senior Actuary to establish and lead a world-class actuarial modelling function, delivering strategic value through innovative, accurate models. You will govern models to high standards, drive technology adoption, and support growth and risk management across the organisation.

The role requires 9+ years of actuarial experience, including 5+ years in senior leadership, with strong governance capabilities and a track record in regulatory compliance.

Qualifications

• Qualified Actuary (Fellow of relevant actuarial body: FASSA, FIA, FSA, FCAS, or equivalent).
• Minimum 9+ years actuarial experience with at least 5 years in senior leadership roles.
• Extensive experience in actuarial model development across multiple disciplines (pricing, reserving, capital modelling).
• Proven track record of leading and managing teams.
• Demonstrated experience in model governance and regulatory compliance.
• Strong background in implementing technology solutions and driving digital transformation.
• Experience with predictive analytics, machine learning, and advanced statistical techniques.

Responsibilities

• Create and implement a new standard approach to modelling across the organization, establishing consistent methodologies, documentation standards, and quality frameworks.
• Lead model development across multiple actuarial functions including: valuations, reserving & technical provisions; pricing and product development; financial reporting (IFRS17); risk management and capital modelling; quote generation and underwriting support; experience investigations; reinsurance optimisation modelling.
• Develop comprehensive business case models to support strategic initiatives, new product launches, and investment decisions.
• Establish and maintain model governance frameworks ensuring all models are validated, documented, and comply with regulatory requirements.
• Drive predictive analytics capabilities using advanced statistical techniques, machine learning, and artificial intelligence.
• Ensure all actuarial and related systems and technology are fit for purpose, evaluating and recommending systems that meet current and future business needs.
• Lead the implementation of new actuarial technologies including cloud-based platforms, automated modelling tools, and advanced analytics software.
• Oversee the migration of Excel-based models to more robust, scalable, and auditable platforms.
• Champion innovation in modelling techniques, staying abreast of industry developments and emerging methodologies.

Skills

Actuarial modelling

Leadership

Team management

Regulatory compliance

Data analytics

Machine learning

Education

Fellow of actuarial body

Master’s degree in Actuarial Science/Statistics/Mathematics/Data Science

Tools

IFRS 17

Cloud platforms (AWS/Azure/GCP)

Job description

Rand Mutual Assurance seeks a senior Actuary to establish and lead a world-class actuarial modelling function, delivering strategic value through innovative, accurate models. You will govern models to high standards, drive technology adoption, and support growth and risk management across the organisation.

The role requires 9+ years of actuarial experience, including 5+ years in senior leadership, with strong governance capabilities and a track record in regulatory compliance.