Junior Actuarial Analyst

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)

• Assist in building, maintaining and testing pricing models for insurance and other client products.
• Analyse claims and exposure experience to derive and validate rating factors and relativities.
• Build and maintain rating tables and rating structures; test them for correctness before they go live.
• Run rate reviews, rate adequacy assessments, sensitivity tests and scenario analyses under the guidance of senior colleagues.
• Investigate the profitability of segments within a book and flag where rates appear inadequate or uncompetitive.
• Support the implementation and testing of rating logic in client systems, including reconciling model output against system output.
• Monitor how rates perform after implementation and contribute to periodic experience reviews.
• Document model logic, assumptions, rating bases and limitations so that work is reviewable and repeatable.

Predictive modelling and data science:

• Extract, clean and structure data from client systems and internal sources.
• Build and test predictive and statistical models (for example propensity, retention, claims or collections models) under supervision.
• Assess model performance and help monitor deployed models for drift and deterioration.
• Contribute to the automation of recurring analysis so that manual effort is reduced over time.

General analytical support and delivery:

• Turn around ad hoc analytical requests from internal teams and clients accurately and on time.
• Produce clear tables, charts and short written summaries that a non-technical reader can act on.
• Investigate data quality issues and flag them, with a proposed course of action, rather than working around them silently.
• Support senior colleagues in preparing client-facing material and in meetings.

Requirements:

• A completed (or final-year) Bachelor’s degree in Actuarial Science, Mathematics, Applied Mathematics, Statistics, Engineering, Econometrics or a closely related quantitative field.
• Strong academic record in quantitative subjects.
• Demonstrable ability to write code for data analysis in Python or R — through coursework, projects, internships or self-directed work.
• Advanced Microsoft Excel skills.
• Sound written and verbal communication in English, including the ability to explain a technical result to a non-technical audience.
• Able to work from our Pretoria office.
• 0–2 years’ work experience. Graduates with no formal work experience are welcome to apply.

Skills and attributes:

• Analytical rigour — checks their own work, understands why a number is what it is, and is uncomfortable presenting a result they cannot explain.
• Intellectual honesty — says when they are unsure or when they have made an error; does not defend a result they no longer believe.
• Curiosity and independent thinking — asks why the conventional approach is the right one, and is willing to voice a different view.
• Learning agility — picks up unfamiliar techniques and tools quickly and applies them without extensive hand-holding.
• Ownership and reliability — delivers what was agreed, on time, and communicates early when something is at risk.
• Collaboration — works well within a small, busy team and shares knowledge rather than hoarding it.
• Clear communication — translates technical work into language a commercial audience can use.

Porcupine Union is proudly part of the King Price Group of companies, which means we’ve got royal roots and a whole lot of shared awesome. By doing our own thing (think fresh ideas, bold moves, and a unique space to grow) we find the best possible solutions for our clients every time.