Job Description
About the Role
We are seeking an experienced Actuarial Specialist: Product Development (Microinsurance) to join our team in Johannesburg. The ideal candidate will have a strong background in actuarial science, mathematics, and statistics, with experience in pricing and product development in insurance. This role offers the opportunity to work on exciting projects, collaborate with cross-functional teams, and contribute to the growth of our organization.
Key Responsibilities
- Data Analysis and Reporting: Collect, analyze, and interpret data to support actuarial functions
- Prepare regular reports and presentations for internal and external stakeholders
- Analyse mortality, morbidity, and lapse rates for life insurance
- Analyse key performance metrics for non-life insurance products (claims loss ratios, frequencies, and severities)
- Pricing and Product Development: Assist in the development and pricing of new insurance products
- Ensure products are competitive and compliant with regulatory requirements
- Develop pricing models for life and non-life insurance products
- Conduct profitability analyses for new and existing insurance products
- Assist with the structuring of new deals and finding solutions to improve structuring
- Risk Management: Identify, assess, and manage risks associated with insurance products
- Support the development of risk mitigation strategies
- Perform stress testing and scenario analysis for life insurance portfolios
- Evaluate underwriting risks for non-life insurance policies
- Regulatory Compliance: Ensure compliance with relevant actuarial standards and regulatory requirements
- Assist in the preparation of regulatory reports
- Prepare statutory reports for life insurance products
- Ensure non-life insurance products comply with local regulations
Requirements
- Bachelor’s Degree in Actuarial Science, Mathematics, Statistics or related field
- Making good progress towards an Actuarial qualification
- Exposure to both life and non-life insurance will be advantageous
- Exposure to pricing and product development in insurance
- At least 3-5 years’ working experience in an actuarial role
Qualifications
None mentioned.
Salary & Benefits
Salary range not specified.
How to Apply
Click the green “Go Apply” button below to apply directly online with the employer.
About Accounting / Finance Jobs in Gauteng
In Gauteng, South Africa, the accounting and finance industry is a significant sector, offering various career opportunities for professionals with the right skills and qualifications. Typically, this field is driven by the growth of multinational corporations and local businesses in industries such as technology, financial services, and manufacturing. As a result, job seekers can expect to find a diverse range of roles available, from entry-level positions to senior leadership roles.
When it comes to salary expectations, accounting and finance professionals in Gauteng can generally expect to earn salaries that fall within broad ranges. Typically, salaries for entry-level roles start around R400 000 – R600 000 per annum, while more senior roles can command salaries ranging from R1 million to over R3 million per annum, depending on factors such as experience, company size, and industry sector. However, it’s essential to note that these are broad ranges, and actual salaries may vary widely.
Common skills required for accounting and finance roles in Gauteng include strong technical knowledge of financial management principles, analytical and problem-solving skills, attention to detail, effective communication skills, and proficiency in financial software and systems. Additionally, many employers also value candidates with experience in budgeting, forecasting, and financial analysis. In some cases, a degree or diploma in accounting, finance, or a related field may be required.
Industries that commonly employ accounting and finance professionals in Gauteng include the financial services sector, technology industry, manufacturing sector, and public sector entities. These sectors require skilled professionals to manage their finances, prepare budgets, and provide strategic guidance on financial matters. Job seekers can expect to find opportunities across these sectors, from small businesses to large multinational corporations.
For those interested in pursuing a career in accounting or finance, there are many development opportunities available. Typically, professionals in this field can progress to senior roles, such as financial manager or director of finance, after gaining relevant experience and developing their skills. Additionally, many employers offer training programs and mentorship opportunities to support the career development of their employees.
This information provides general career guidance. Actual salaries and requirements vary by employer.
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