Actuarial Analyst (Credit Life)

Job Classification

• Job Requisition: 145595
• TA Specialist: Refilwe Falatsi
• Contact Details:
• Closing Date: 14 May 2026
• Location: 135 Rivonia Campus Sandton
• Cluster: Personal and Private Banking Nedbank Insurance Client Solutions - Credit Life
• Employment Equity Statement: Preference will be given to applicants from Underrepresented Groups

Career Stream

Job Purpose

To provide actuarial solutions within the Personal and Private Banking Credit Life Solutions business with a strong focus on Credit Life product support pricing valuation inputs and product development in line with Nedbanks Client Value Proposition.

Job Responsibilities

Product Development
Support endtoend development and enhancement of Credit Life products from problem definition and solution design through implementation support.
Assist with pricing and product development activities including supporting experience investigations.
Provide actuarial input into product design decisions (e.g. benefit design and cover structure) and document rationale for key choices.
Support governance and approval processes by contributing to product development papers and responding to stakeholder feedback through iterative refinements.
Support testing and release activities by assisting with scenario testing defect validation and postimplementation checks.
Track and report on Value of New Business (VNB) and other relevant product performance measures for Credit Life.
Review pricing structure in line with market trends and regulatory requirements.
Work collaboratively with the broader Client Solutions and Corporate Actuarial teams to enhance models for existing and future business.

Regulatory & Governance
Interpret and apply Credit Life regulatory guidance (e.g. NCA-related requirements) to product rules premiums and customer outcomes.
Translate regulatory and policy changes into clear product requirements and support implementation through stakeholder engagement and documentation.
Participate in and/or facilitate working sessions to align actuarial product claims and change stakeholders on regulatory interpretation and delivery implications.

Issue Management & Premium Correctness
Investigate and track premium correctness issues (e.g. incorrect premium application) and provide clear technical feedback to business and operational stakeholders.
Raise monitor and follow up on incidents with system and change teams (e.g. policy administration platforms) and support resolution through data and rule validation.
Identify trends and root causes from issue logs and recommend preventative controls and process improvements.

Claims & Customer Fairness
Partner with Claims to provide actuarial input on claimrelated pricing and customer outcome considerations (e.g. interest on late claims) and support consistent application of product rules.
Support investigation of complex claims/policy queries where there is potential product pricing or systemic impact (including premium recalculation logic and refund/interest considerations).

Job Responsibilities Continue

Data Dashboards & Automation
Develop and enhance calculators tools and dashboards to improve product insight controls and decisionmaking.
Prepare recurring product and performance reporting by compiling and analysing new business volumes portfolio movements claims experience and emerging trends.
Interpret results and highlight risks insights and areas requiring action using clear visuals and stakeholderready commentary.

Business Performance Reporting & Stakeholder Engagement
Produce monthly performance reporting and presentations with decision-ready insights.
Track new business and portfolio movements against targets; explain key variances and emerging risks.
Measure initiative/project impacts against business-case KPIs.
Monitor business mix/target-market alignment and escalate concerns.
Compile quarterly scorecards and stakeholder updates including client value and service considerations where relevant.
Communicate results and recommendations to actuarial leaders; support pricing requests business cases and governance submissions.
Prepare Actuarial Committee and Board packs clearly stating assumptions impacts risks and recommended decisions.
Respond to stakeholder data requests and provide ad hoc actuarial support.

Team & Culture Contribution
Be an active and engaged member of the Actuarial team taking accountability for own learning and development.
Understand and embrace the Nedbank vision and demonstrate the values through interaction with team and stakeholders.
Keep abreast of legislation and other industry changes that impact the role by reading relevant newsletters/websites and attending sessions.
Improve personal capability and stay abreast of developments in field of expertise by identifying training courses and career progression through input and feedback from managers.
Stay abreast of developments in the actuarial life insurance and credit life space building capability through continuous learning.

People Specification

Essential Qualifications - NQF Level

Preferred Qualification

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

Minimum Experience Level

• 13 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:

Technical / Professional Knowledge

Behavioural Competencies