Actuarial Analyst (Pricing)

Reports to: Head of Actuarial

Job grade:D2

Number of Subordinates: 0

PURPOSE OF THIS ROLE

The purpose of this role is to support the growth of medium- to long-term (“MLT”) and short-term insurance (“STI”) business by strengthening pricing capabilities. The incumbent of this role will be responsible for developing, enhancing, validating and documenting pricing models, as well as engaging with internal stakeholders to validate pricing inputs related to export credit risks. The incumbent of this role will also be responsible to coach and mentor junior staff.

KEY ACCOUNTABILITIES, MEASURES & INTERFACES

• Develop, review and update internal pricing models for short-term insurance (“STI”) and medium to long-term (“MLT”) products considering reinsurance structures, as well as related company valuation models.
• Recommend premium rates that reflect expected losses, expense loadings and appropriate profit margins relative to capital requirements.
• Assist in developing appropriate pricing methodologies for new products.
• Ensure pricing models are well documented, regularly calibrated and validated.
• Conduct pricing experience analyses and present findings to management.
• Extract and interpret data from financial models to support pricing decisions and the expression of risk appetite for key sectors.
• Contribute to the automation and optimisation of the core pricing processes.
• Collaborate with cross-functional internal stakeholders to research industry trends and compile reports on risks and opportunities.
• Contribute to the development of related policies, such as the underwriting manual and reserving policy.
• Support product development initiatives in collaboration with internal stakeholders.
• Assist with preparing information required for technical peer review and internal / audit purposes.
• Support the annual assumption calibration exercise and validation of models used for reserving and capital calculations, particularly on expected loss calculation inputs.
• Liaise with external actuarial service providers.
• Assist with reviewing the unit’s measures for enterprise risk assessment.
• Attend project committee meetings when required.
• Assist the Unit Head with planning and tracking unit deliverables.
• Mentor and guide actuarial graduate trainee(s) who supports pricing, reserving and capital management functions.
• Support reserving and capital management workstreams, as required to ensure overall unit success.

Key Measures

• Accurate and timely completion of data analysis and modelling deliverables.
• Effective development, maintenance and documentation of pricing models.
• Quality of pricing performance reviews, trend analyses and management reporting.
• Contribution to strategic research, analysis and pricing insights.
• Effective engagement with key internal and external clients and stakeholders.

QUALIFICATIONS & EXPERIENCE

• Relevant Bachelor’s degree in Actuarial Science, Economics, Financial Engineering, Mathematics, Statistics, or a related quantitative finance field.
• Additional business or professional qualifications would be an advantage.
• At least five years’ experience in insurance pricing, credit risk modelling, reserving or economic capital modelling.
• Experience with actuarial, statistical modelling or programming tools such as VBA, R, Python or SQL.

SKILLS & ABILITIES

The incumbent should have demonstrated the following competencies:

• Strong model development, maintenance and validation skills.
• Excellent analytical, problem-solving and data interpretation skills.
• Advanced Excel capability and programming experience alongside proficiency in other Microsoft Office applications (Word, PowerPoint).
• Understanding of relevant Prudential Authority standards.
• Ability to work independently, use initiative and prioritise tasks effectively within tight deadlines.
• Ability to communicate technical concepts clearly, both verbally and in writing.
• Strong attention to detail and ability to deliver highly accurate outputs.
• Ability to build effective relationships across the business and with stakeholders at all levels.
• High degree of integrity and professionalism.

BEHAVIOURAL COMPETENCIES

The incumbent is required to have the following Behavioural competencies:

• Problem Solving: Demonstrates sound critical thinking skills and apply proven solutions appropriately.
• Customer Service Orientation:The willingness and ability to give priority to customers, delivering high quality services which meet their needs.
• Delivery: Translates business objectives into practical, prioritised and organised action plans; ensures plans are safely and successfully implemented.
• Conflict Resolutionroaches.ches. ons division ry;:  Identifies and pushes for solutions in which all parties can benefit.
• Team Participation:  Consistently offers relevant input to team discussions as issues are being clarified and solutions are being developed.
• Flexibility:  Aavailable to work more than ordinary business hours.
• Assertiveness: demonstrates strong management qualities for the office of the CEO

Closing Date:  Monday, 2 November 2026

NOTE: It is ECIC’s intention to promote equity through the filling of posts, according to the set Employment Equity targets.

Data Protection

Personal information collected and processed for purposes of recruitment will be protected from unauthorised access and improper use or disclosure.

Declaration and Informed Consent

By submitting your application for the advertised role, you give ECIC permission to process your personal information and you acknowledge that you understand the purpose for which it is required and for which it will be used. Furthermore, you declare that all personal information supplied to the ECIC for the purposes of recruitment is accurate, up to date, not misleading and that it is complete in all respects.