Title:  Actuarial Analyst (Credit Life)

Job Classification

• Job Requisition: 145595
• TA Specialist: Refilwe Falatsi
• Contact Details: +27102215239
• 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 Nedbank’s Client Value Proposition. 

Job Responsibilities

Product Development
•    Support end‑to‑end 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 post‑implementation 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 claim‑related 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 decision‑making.
•    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 stakeholder‑ready 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

• 1–3 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