FNB is currently inviting applications for an Actuarial Manager to join their Short-Term Insurance division. Based in Randburg, this leadership role is focused on steering the pricing strategy for personal lines while mentoring a high-performing team. If you are an ambitious, nearly qualified actuary looking to influence the bottom line of one of South Africa’s leading financial institutions, this position offers the scope to balance rigorous technical analysis with high-level stakeholder engagement.

About the role

This position sits at the intersection of technical actuarial control and business strategy. You will be responsible for the end-to-end pricing life cycle—from initial data analysis and the application of complex modelling techniques to implementation, monitoring, and final sign-off. Beyond the technical aspects of short-term insurance pricing, you will play a crucial role as a subject matter expert, translating complex data-driven insights into actionable business proposals for the board and executive committees.

The role demands a candidate who can manage the delicate balance between internal operational efficiency and the broader regulatory landscape. You will be expected to foster a culture of inclusivity and collaboration, ensuring your team is not only meeting its performance targets but also growing professionally.

The core mandate is to drive value through analytical excellence and strategic oversight. Your daily responsibilities will include:

• **Strategic Pricing:** Developing and implementing pricing strategies that align with the bank’s overall budget goals and business objectives.
• **Technical Execution:** Applying a range of pricing methodologies, including complex Generalised Linear Models (GLMs), to personal lines products.
• **Team Leadership:** Managing a team of actuarial professionals, overseeing their development, and ensuring project delivery remains on track.
• **Cross-Functional Collaboration:** Engaging with departments outside of pure pricing, such as claims analytics, to support overall growth initiatives.
• **Risk and Reporting:** Managing risks within your area of responsibility and providing accurate, timely reports on cost-benefit realisations for various pricing projects.
• **Stakeholder Management:** Presenting technical pricing proposals to relevant forums, regulators, and executive leadership teams.

What they're looking for

To be considered for this position, you should have a solid foundation in both actuarial science and short-term insurance. FNB is seeking a candidate with the following credentials:

• **Academic Background:** A BSc degree in Actuarial Science.
• **Professional Progress:** You must be a "Nearly Qualified" actuary, meaning all core actuarial exams have been completed, and you are actively progressing toward Fellowship.
• **Experience:** A minimum of 9 years of relevant actuarial experience, with at least 5 years specifically focused on pricing or actuarial work within the short-term insurance sector.
• **Technical Proficiency:** Advanced skills in Microsoft Excel and experience with industry-standard software such as SQL, Python, R, SAS, Power BI, or specialist pricing tools like Emblem and Radar.
• **Soft Skills:** Strong communication abilities are essential, as you will frequently need to present technical findings to non-technical business stakeholders.

In the South African insurance market, Actuarial Managers at this level of seniority typically earn highly competitive packages, often supplemented by annual performance bonuses and corporate benefits. This role is a significant career move for those looking to transition from technical individual contributor roles into senior management within a major bank. Professionals in this space often move into Head of Pricing or Chief Risk Officer roles over the long term, making this an ideal stepping stone for those aiming for executive-level responsibilities in the financial services sector.

Qualifications and Experience

• BSc degree in Actuarial Science
• Nearly Qualified Actuary (completed all core actuarial exams and actively working toward Fellowship)
• A minimum of 9 years relevant Actuarial work experience of which at least 5 years in a Pricing or actuarial team within Short Term Insurance
• Strong analytical and problem-solving skills, with meticulous attention to detail and the ability to handle complex datasets
• Proficiency in Microsoft Excel, and familiarity with actuarial software (e.g., SQL, SAS, Python, R, Power BI, Emblem, Radar or other GLM software)
• Experience with data visualisation tools will be advantageous
• Effective written and verbal communication skills, with the ability to present technical findings to non-technical audiences
• Proven ability to work independently and collaboratively in a diverse, cross-functional team environment

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Important Closing Date Note

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.