Actuarial Model Developer

Job Description

We are seeking a skilled Actuarial Model Developer to join our dynamic team in Sandton. In this challenging role, you will be responsible for designing and developing actuarial models that cater to the insurance industry’s complex needs. Your analytical skills and attention to detail will be crucial in ensuring the accuracy and reliability of our models.

Responsibilities

• Build and validate pricing and loss reserving models.
• Collaborate with business units to ensure alignment of goals and objectives.
• Document model assumptions and methodologies for internal and external stakeholders.
• Continuously monitor model performance and make necessary adjustments.
• Assist in training and mentoring junior actuarial staff.
• Stay updated with industry best practices and regulatory changes impacting actuarial science.
• Participate in strategic planning sessions to shape the company’s actuarial strategy.

Requirements

Education

• Bachelor's degree in Mathematics, Statistics, or Actuarial Science
• Master's degree is an advantage

Experience

• 5+ years of experience working in actuarial model development

Technical Skills

• Prophet Software
• R Programming
• Excel/VBA

Soft Skills

• Teamwork
• Time Management

Certifications

• Fellowship of the Society of Actuaries
• Stochastic Modelling Certificate is a plus

Languages

• English: Fluent

Advantageous

• Experience with Big Data Technologies: Proficiency in using big data technologies such as Hadoop or Spark.
• Advanced Statistical Techniques: Expertise in using advanced statistical methods for model improvement.

Benefits

• Attractive salary with annual performance bonuses
• Comprehensive health coverage including medical and dental
• Retirement fund with matching contributions
• Work-life balance initiatives
• Opportunities for professional development and training

Company Culture

• Diversity: We celebrate diversity and inclusivity, ensuring everyone feels welcome and valued.
• Respect: We maintain a respectful workplace culture where every opinion is valued.
• Engagement: We encourage our team members to engage actively in decision-making processes.