Actuarial Specialist I

To prepare data and conduct basic analyses with guidance. Possesses a foundational understanding of technical concepts within their field and can effectively convey information to the wider team and to relevant stakeholders under supervision.

Hello, future Actuarial Specialist I

Role Purpose

To prepare data and conduct basic analyses with guidance. Possesses a foundational understanding of technical concepts within their field and can effectively convey information to the wider team and to relevant stakeholders under supervision.

Key responsibilities

• Assist in building, updating, and validating actuarial pricing models for short-term insurance products (e.g., motor, property, liability, legal and value-added products)

• Support the preparation and analysis of data for pricing reviews, claims experience investigations, burning cost analyses, and profitability assessments

• Contribute to the development of new product features, rating structures, and the review of existing products

• Compile and interpret claims, exposure, and financial data to support pricing and portfolio management decisions

• Assist in monitoring loss ratios, claims frequency and severity trends, and the impact of rate changes on portfolio performance

• Prepare reports and presentations for internal stakeholders, summarising key findings and recommendations

• Collaborate with underwriting, claims, finance, and product development teams to ensure pricing assumptions are robust and aligned with company objectives

• Assist in the implementation of regulatory requirements and compliance standards relevant to pricing activities, including the Policyholder Protection Rules and premium review requirements

• Participate in ongoing professional development and actuarial exam progress

You will be an ideal candidate if you:

• Have a BSc Degree in Actuarial Science

• An Honours degree in Actuarial Science is preferred.

• Successfully completed at least Five Actuarial Exams

• 2 – 3 years' relevant experience within a Pricing or Corporate Actuarial role within Short-Term Insurance, Insurance, Investments or Banking is preferred

• Short-Term Insurance Pricing experience will be advantageous.

• Strong analytical and problem-solving skills, with attention to detail

• Proficient in Microsoft Excel; experience with statistical and pricing tools (e.g., Power BI, Python, SQL, SAS, R, Emblem/Radar or similar GLM software) will be advantageous

• Effective written and verbal communication skills

• Able to work collaboratively in a team environment

• Eager to learn and grow within the Actuarial profession

You will have access to

• Opportunities to network and collaborate

• Opportunities to innovate

• Flexible working environment

• Focus on health and wellbeing

• Preferential employee banking rates

• Competitive salary and benefits package

• A generous leave policy to cater for your individual needs and actuarial exams

• Support for actuarial exam progress and professional development

• Opportunity to work with experienced actuaries and gain exposure to diverse short-term insurance products across personal and commercial lines

• Inclusive and dynamic team culture

We can be a match if you are:

• Curious & courageous – you're driven by always wanting to know more and learn more and you're brave enough to take action

• Obsessed with mastery – you know what it takes to become good at what you do and are constantly pushing yourself to achieve this

• A team player – you believe in the power of teams, building and leveraging your networks

• Emotionally intelligent – you are able to connect with people to build trust

#Post

#FNB

#LI-AR2

Important Closing Date Note

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.

28/08/26

All appointments will be made in line with FirstRand Group’s Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.