Pricing Actuarial Data Scientist STI

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

Job Description Summary
Nearly qualified actuary with 5+ years of actuarial or data science experience in pricing, risk, or analytics. Emblem Software Essential. Minimum 10 actuarial exams completed. We are seeking a highly skilled Specialist Actuarial Data Scientist to strengthen advanced modeling & Pricing within our short-term insurance environment. The role is critical in enhancing predictive pricing models, improving risk segmentation, and driving data-led commercial decision-making. The successful candidate will bridge actuarial rigor with modern data science techniques to deliver measurable business value.

Job Description

• Emblem Softeware Essential

• Pricing Short Term Insurance Essential

• Lead the design, development, and deployment of predictive models across underwriting, claims, and customer segmentation.

•  Integrate alternative and emerging data sources (e.g., geospatial, behavioral, and external risk datasets) to strengthen pricing accuracy and risk differentiation.

• Champion model transparency and governance, ensuring ethical data use, strong documentation, and a rigorous peer‑review framework.

•  Collaborate closely with cross‑functional teams - including underwriting, claims, product, IT, and distribution - to deliver high‑impact analytical and pricing solutions.

• Partner with enterprise‑wide analytics and data science teams to align on modelling best practices and adopt cutting‑edge techniques and tools.

• Mentor junior analysts experience

Role requirements

• Nearly qualified actuary with 5+ years of actuarial or data science experience in pricing, risk, or analytics. Minimum 10 actuarial exams completed

• Confirm current exam status and professional body membership (e.g. Actuarial Society of Sout Africa or Institute and faculty of Actuaries)

• Clarify pricing vs reserving vs capital focus

• Essential candidate must have built pricing models from first principles?

• What modelling techniques were used?

• What measurable business impact did the model deliver? Provide examples

• Machi8ne Learning application:- Advanced modelling expertise, including GLMs, decision trees, machine learning, and ensemble methods. (Gradient Boosting, XGBoost)Please elaborate on what Libararies where used (e.g. pandas, scikit-learn, XGBoost)

• Nature of use (automatio0n, ML, deployment)

• Strong technical proficiency in R, Python, SQL, , Power BI, and actuarial platforms such as Emblem, Radar, and ResQ. (Experience with Earnix is a plus)

• Commercial Translation Ability:- Demonstrated ability to transform complex datasets into actionable insights that drive business outcomes.

• Excellent analytical, problem‑solving, and communication skills, with the ability to influence stakeholders and explain complex concepts clearly.

• Exposure to regulatory frameworks (e.g. SAM) or IFRS 17 will be advantageous

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