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

2. Financial Reporting & Compliance

• Prepare IFRS 17 compliant financial statements for insurers
• Ensure adherence to FSB (Financial Services Board) regulations
• Conduct asset-liability management (ALM) for pension funds

3. Product Development

• Design innovative insurance/pension products
• Model retirement fund benefit structures
• Assess sustainability of medical schemes

4. Data Analytics & Modeling

• Build stochastic models using @Risk, Prophet, or R
• Apply machine learning for claims forecasting
• Automate reports using Python, SQL, and Power BI

5. Stakeholder Engagement

• Present findings to boards, regulators, and clients
• Advise investment committees on portfolio strategies
• Train junior actuarial staff

Required Skills & Competencies
Technical Skills
✅ Actuarial Modeling (Life/General insurance, pensions)
✅ Statistical Analysis (Survival models, time series forecasting)
✅ Programming (R, Python, SQL, VBA)
✅ Regulatory Knowledge (FSB, SARB, IFRS 17)
✅ Data Visualization (Power BI, Tableau)
Soft Skills
✔ Analytical Rigor – Interpreting complex datasets
✔ Business Acumen – Aligning models with commercial objectives
✔ Communication – Explaining technical concepts to non-specialists
✔ Problem-Solving – Developing innovative risk solutions Qualifications & Certifications
Mandatory:

• Bachelor's degree in Actuarial Science, Mathematics, or Statistics
• Progress toward Fellowship with ASSA (Actuarial Society of South Africa)

Preferred:

• FASSA (Fellow of ASSA) designation
• Specialist track (Life, General, or Pensions)
• CFA/FRM for investment-focused roles