Actuarial Analyst at Nedbank

Job Purpose

• To provide actuarial solutions within the Credit Solutions, Credit Life Team, with a strong focus on Life Insurance and Credit Life product, valuation, and product development, in line with Nedbank’s Client Value Proposition.

Job Responsibilities

Product Development

• Assist with pricing and development of Life Insurance and Credit Life products for Nedbank Insurance.
• Support new product development initiatives, including enhancements to existing life and credit life offerings to meet market and regulatory requirements.
• Track and report on Value of New Business (VNB) for Life and Credit Life products.
• Conduct experience investigations to inform pricing assumptions and product improvements.

Modelling & Valuations

• Work collaboratively with the broader Life Corporate Actuarial team to enhance models for existing and future business.
• Support the integrity, accuracy, and validation of data used in valuations and experience analyses.

Reporting & Stakeholder Engagement

• Communicate actuarial results and insights to actuarial managers to support informed decision‑making.
• Assist with the preparation of Actuarial Committee and Board packs.
• Provide ad hoc actuarial support to the broader business as required.

Process Improvement & Automation

• Support the automation and optimisation of life valuation and reporting processes to improve efficiency and controls.
• Investigate results to identify trends, risks, and opportunities for improvement.
• Document existing and newly developed actuarial processes.

Team & Culture Contribution

• Be an active and engaged member of the Actuarial team, taking accountability for own learning and development.
• Contribute to Nedbank’s transformation, culture‑building, and corporate responsibility initiatives.
• Stay abreast of developments in the actuarial, life insurance, and credit life space, building capability through continuous learning.
• Support team effectiveness, including participation in recruitment processes where required.

People Specification

Essential Qualifications - NQF Level

• Advanced Diplomas/National 1st Degrees

Preferred Qualification

• Bachelor of Science (Actuarial Science)
• Bachelor of Commerce (Actuarial Science)

Minimum Experience Level

• 1–3 years’ experience in a Corporate Actuarial or Valuations environment
• Experience within Life Insurance is advantageous
• Exposure to Credit Life products and product development will be a strong advantage

Requirements:

• Good progress with A‑level actuarial examinations (approximately 7–8 exams completed)
• Strong analytical, problem‑solving, and modelling capabilities
• Working knowledge of IFRS 17 and SAM (advantageous)
• Experience with Prophet, Python, R, SQL or similar actuarial modelling tools (advantageous)
• Strong communication, documentation, and stakeholder‑engagement skills

Technical / Professional Knowledge

• Administrative procedures and systems
• Banking knowledge
• Business principles
• Business terms and definitions
• Data analysis
• Microsoft Office
• Relevant software and systems knowledge
• Business writing skills
• Governance, risk and controls

Behavioural Competencies

• Adaptability
• Applied Learning
• Communication
• Collaborating
• Innovation
• Work Standards

Closing Date: 8 May 2026