Pricing Actuarial Data Scientist Short Term Insurance

Absa is inviting applications for a dynamic Pricing Actuarial Data Scientist within their Short-Term Insurance division, based in Johannesburg. This role offers a significant opportunity to shape the future of insurance pricing and to contribute to the ongoing transformation of the financial services landscape in South Africa. With a legacy spanning over a century, Absa is committed to empowering Africa’s tomorrow and invites candidates to join their exciting growth journey.

About the Role

This position is centred on leveraging advanced actuarial techniques and data science methodologies to drive pricing excellence in the short-term insurance sector. You will be instrumental in developing, refining, and overseeing pricing models, ensuring they are both competitive and profitable. The role demands a strong blend of analytical prowess and commercial acumen, with a clear focus on translating complex data insights into tangible business outcomes and strategic decisions. This is a chance to work at the forefront of insurance innovation, utilizing cutting-edge analytical tools and contributing to data-led decision-making across the organisation.

As a Pricing Actuarial Data Scientist, your responsibilities will be multifaceted and impactful:

• **Pricing Model Development and Enhancement:** You will be responsible for developing, enhancing, and continuously monitoring pricing models for a range of short-term insurance products. This includes ensuring accuracy and optimising profitability through advanced actuarial and data science applications.
• **Data Analysis and Insight Generation:** A key part of the role involves analysing both internal and external data sources to identify emerging trends, potential opportunities, and inherent risks within the insurance portfolio.
• **Predictive Analytics and Machine Learning:** You will support the creation and deployment of predictive models and machine learning solutions that enhance pricing strategies and risk assessment.
• **Cross-Functional Collaboration:** This position requires close collaboration with various departments, including Underwriting, Finance, Risk, Product Development, and Distribution teams, to ensure alignment and effective implementation of pricing strategies.
• **Business Impact and Strategy:** You will be tasked with delivering actionable, data-driven insights that directly support business growth initiatives and the optimisation of the insurance portfolio.
• **Regulatory and Governance Compliance:** Ensuring that all pricing practices adhere strictly to relevant regulatory requirements and internal governance frameworks is paramount.
• **Process Improvement:** Contributing to the ongoing refinement of analytical tools, methodologies, and operational processes to maintain a high standard of analytical capability.

What They're Looking For

Candidates for this role should possess a robust quantitative background and a minimum of 7-10 years of relevant experience. The ideal applicant will demonstrate a proven track record in:

• **Short-Term Insurance Pricing:** In-depth expertise in the specific nuances of pricing within the short-term insurance market.
• **Actuarial Modelling and Data Science:** Strong capabilities in actuarial modelling, predictive analytics, and data science techniques.
• **Technical Proficiency:** Demonstrated proficiency with analytical and statistical programming languages and tools, such as Python, R, SAS, or SQL, and similar technologies.
• **Model Deployment:** Experience in successfully developing and deploying pricing models and predictive analytics solutions into live business environments.
• **Commercial Acumen:** A clear ability to translate complex analytical findings into commercially viable recommendations and strategic business decisions that drive tangible results.
• **Problem-Solving and Communication:** Excellent problem-solving skills, strong quantitative abilities, and effective communication skills are essential for conveying technical information to diverse audiences.

**Minimum Requirements:**

• A degree in Actuarial Science, Statistics, Mathematics, Data Science, or a closely related quantitative field.
• While not mandatory, progress towards or completion of professional actuarial qualifications will be considered a significant advantage.

This role is an excellent opportunity for a talented professional looking to make a substantial impact in the financial services sector. If you are passionate about actuarial science, data analytics, and driving meaningful business outcomes through innovative solutions, Absa encourages you to apply and help shape the future of insurance in South Africa.

Minimum Requirements

• Degree in Actuarial Science, Statistics, Mathematics, Data Science, or a related quantitative field.
• Progress towards or completion of professional actuarial qualifications will be advantageous.
• Experience within the Short-Term Insurance industry, specifically in pricing, predictive analytics, or actuarial modelling.
• Proficiency in analytical and statistical tools such as Python, R, SAS, SQL, or similar technologies.
• Strong problem-solving, quantitative, and communication skills.
• Ability to translate complex analytical findings into practical business recommendations.

What Success Looks Like

• Delivering innovative pricing solutions that enhance competitiveness and profitability.
• Creating insights that influence strategic business decisions.
• Driving data-led decision-making across the organisation.
• Balancing technical excellence with commercial impact.

Why Join Us?

This is an opportunity to work with a team of talented professionals at the forefront of insurance innovation. You will have the chance to influence strategic outcomes, work with advanced analytical tools, and contribute to the transformation of the insurance landscape through the power of data.

If you are passionate about actuarial science, data analytics, and creating meaningful business impact, we would love to hear from you.Shape the Future of Insurance Through Data and Innovation

We are seeking a highly analytical and commercially minded Pricing Actuarial Data Scientist to join our Short-Term Insurance team. This exciting opportunity is ideal for a professional who is passionate about leveraging actuarial and data science methodologies to drive pricing excellence, deliver business value, and enhance customer outcomes.

In this role, you will contribute to the development and optimisation of pricing models, apply advanced analytical techniques to complex datasets, and provide actionable insights that support strategic decision-making across the busines

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised