Actuary
Johannesburg, Gauteng, South Africa
Job Description
Job Purpose
The Actuary applies advanced statistical and mathematical models to assess financial risks, design insurance/pension products, and ensure regulatory compliance. This role combines technical expertise with business acumen to drive data-driven decision-making in South Africa's complex financial landscape.Key Responsibilities
1. Risk Assessment & Pricing
- Develop pricing models for insurance products (life, health, non-life)
- Calculate premium rates, reserves, and capital requirements (Solvency II principles)
- Analyze mortality/morbidity trends using demographic data
- Prepare IFRS 17 compliant financial statements for insurers
- Ensure adherence to FSB (Financial Services Board) regulations
- Conduct asset-liability management (ALM) for pension funds
- Design innovative insurance/pension products
- Model retirement fund benefit structures
- Assess sustainability of medical schemes
- Build stochastic models using @Risk, Prophet, or R
- Apply machine learning for claims forecasting
- Automate reports using Python, SQL, and Power BI
- Present findings to boards, regulators, and clients
- Advise investment committees on portfolio strategies
- Train junior actuarial staff
Technical Skills
xe2x9cx85 Actuarial Modeling (Life/General insurance, pensions)
xe2x9cx85 Statistical Analysis (Survival models, time series forecasting)
xe2x9cx85 Programming (R, Python, SQL, VBA)
xe2x9cx85 Regulatory Knowledge (FSB, SARB, IFRS 17)
xe2x9cx85 Data Visualization (Power BI, Tableau)
Soft Skills
xe2x9cx94 Analytical Rigor Interpreting complex datasets
xe2x9cx94 Business Acumen Aligning models with commercial objectives
xe2x9cx94 Communication Explaining technical concepts to non-specialists
xe2x9cx94 Problem-Solving Developing innovative risk solutionsQualifications & Certifications
Mandatory:
- Bachelor's degree in Actuarial Science, Mathematics, or Statistics
- Progress toward Fellowship with ASSA (Actuarial Society of South Africa)
- FASSA (Fellow of ASSA) designation
- Specialist track (Life, General, or Pensions)
- CFA/FRM for investment-focused roles
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Job Detail
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Job IdJD1411983
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IndustryNot mentioned
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Total Positions1
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Job Type:Full Time
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Salary:Not mentioned
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Employment StatusPermanent
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Job LocationJohannesburg, Gauteng, South Africa
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EducationNot mentioned