We’ve got a position available for a junior actuarial analyst
Company: Porcupine Union, part of the King Price Group
Purpose of position:
The Junior Actuarial Analyst supports our pricing and rating work: building and maintaining the models that determine what our clients charge, deriving and testing rating factors, and running the analyses that show whether a rate is adequate. Alongside that core, the role contributes to predictive modelling and general analytical work as demand requires.
Responsibilities:
Pricing and rating (core focus)
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Assist in building, maintaining and testing pricing models for insurance and other client products.
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Analyse claims and exposure experience to derive and validate rating factors and relativities.
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Build and maintain rating tables and rating structures; test them for correctness before they go live.
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Run rate reviews, rate adequacy assessments, sensitivity tests and scenario analyses under the guidance of senior colleagues.
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Investigate the profitability of segments within a book and flag where rates appear inadequate or uncompetitive.
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Support the implementation and testing of rating logic in client systems, including reconciling model output against system output.
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Monitor how rates perform after implementation and contribute to periodic experience reviews.
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Document model logic, assumptions, rating bases and limitations so that work is reviewable and repeatable.
Predictive modelling and data science:
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Extract, clean and structure data from client systems and internal sources.
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Build and test predictive and statistical models (for example propensity, retention, claims or collections models) under supervision.
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Assess model performance and help monitor deployed models for drift and deterioration.
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Contribute to the automation of recurring analysis so that manual effort is reduced over time.
General analytical support and delivery:
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Turn around ad hoc analytical requests from internal teams and clients accurately and on time.
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Produce clear tables, charts and short written summaries that a non-technical reader can act on.
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Investigate data quality issues and flag them, with a proposed course of action, rather than working around them silently.
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Support senior colleagues in preparing client-facing material and in meetings.
Requirements:
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A completed (or final-year) Bachelor’s degree in Actuarial Science, Mathematics, Applied Mathematics, Statistics, Engineering, Econometrics or a closely related quantitative field.
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Strong academic record in quantitative subjects.
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Demonstrable ability to write code for data analysis in Python or R — through coursework, projects, internships or self-directed work.
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Advanced Microsoft Excel skills.
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Sound written and verbal communication in English, including the ability to explain a technical result to a non-technical audience.
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Able to work from our Pretoria office.
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0–2 years’ work experience. Graduates with no formal work experience are welcome to apply.
Skills and attributes:
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Analytical rigour — checks their own work, understands why a number is what it is, and is uncomfortable presenting a result they cannot explain.
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Intellectual honesty — says when they are unsure or when they have made an error; does not defend a result they no longer believe.
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Curiosity and independent thinking — asks why the conventional approach is the right one, and is willing to voice a different view.
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Learning agility — picks up unfamiliar techniques and tools quickly and applies them without extensive hand-holding.
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Ownership and reliability — delivers what was agreed, on time, and communicates early when something is at risk.
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Collaboration — works well within a small, busy team and shares knowledge rather than hoarding it.
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Clear communication — translates technical work into language a commercial audience can use.
Should you not receive any feedback within ten (10) working days after the closing date, please accept your application as unsuccessful.
