Senior Actuarial Analyst : Commercial Lines Pricing

Old MutualJohannesburg, ZA

26 days ago

Job description

Job title : Senior Actuarial Analyst : Commercial Lines Pricing

Job Location : Gauteng, Johannesburg

Deadline : January 30, 2026

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Job Description

We are seeking an innovative Commercial Lines Senior Actuarial Specialist who can think outside the box and develop creative solutions for complex pricing challenges in the commercial insurance space.

This senior role involves supervising junior team members while leading the development, maintenance, and monitoring of sophisticated pricing models using cutting-edge actuarial and statistical techniques.

Responsibilities include the following :

Actuarial Analysis, Assumptions and Insights

Analyze, interpret, and present data ensuring the completeness, accuracy, and appropriateness of all insurance data used in order to contribute to the production of actuarial analyses, assumptions and insights. Conduct research and request relevant information to enable analysis of key themes and trends using primary data sources and business intelligence tools.

Actuarial Calculation of Funding Requirement

Contribute to the evaluation of funding contributions, like employee benefit schemes, and to the development of recommendations for future funding contribution levels.

Actuarial Model Creation and Maintenance

Develop and maintain actuarial models, ensuring that the underlying structure of the actuarial assumptions are fully validated and that the models can be integrated into wider business models to enable actuarial analysis, financial reporting, and regulatory compliance.

Actuarial Product Development & Management

Develop proposals for new product features and benefits and for the improvement and management of existing products that create competitive advantage, that are viable in relation to the organization's risk appetite and financial objectives, and that meet regulatory requirements.

Organizational Risk Management

Ensure the organization is not exposed to undue risks by using risk, financial management and control systems to achieve specific goals within a designated area of the business.

Actuarial Financial Reporting

Produce complex actuarial financial information, ensuring the accurate completion of delegated elements of the process to contribute to the production of statutory and non-statutory reports and other disclosures.

Compliance

Maintain and renew a deep knowledge and understanding of the organization's policies and procedures and of relevant regulatory codes and codes of conduct, and ensure own work adheres to required standards. OR Identify, within the team, patterns of non-compliance with the organization's policies and procedures, and with relevant regulatory codes and codes of conduct, taking appropriate action to report and resolve these and escalating issues as appropriate.

Improvement / Innovation

Identify shortcomings in existing processes, systems, and procedures, and use established change management programs to address them.

More specific role-related responsibilities are as follows :

Team Leadership & Model Development

Supervise and mentor junior team members in developing, maintaining, and monitoring pricing models for commercial lines products

Implementation of cutting-edge actuarial and statistical techniques to ensure competitive pricing strategies

Build and maintain sophisticated rate and test models, providing strategic input into rate engine design specifications

Strategic Analysis & Business Intelligence

Monitor market trends and provide proactive business recommendations with actionable insights

Design and implement corrective actions to optimize business performance across the commercial portfolio

Deliver ad hoc analytical support and conduct in-depth investigations across various business areas

Portfolio Management & Planning

Required Skills & Qualifications

Python programming skills and coding expertise would be highly advantageous for advanced data analysis and model development

Strong actuarial background with 3-6 years pricing experience

Innovative thinking and problem-solving abilities

Excellent analytical and statistical modeling skills

Skills

Analytical Support, Analytical Thinking, Computer Literacy, Data Analysis, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Market Analysis, Numerical Aptitude, Regulatory Compliance, Regulatory Requirements, Risk Management, Statistical Data

Competencies

Balances Stakeholders

Builds Networks

Business Insight

Collaborates

Communicates Effectively

Cultivates Innovation

Decision Quality

Drives Results

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent : Actuarial Science (Required)

Closing Date

30 October 2025

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Actuarial Analyst • Johannesburg, ZA

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