Corporate Actuarial at Road Accident Fund Centurion, Gauteng

Analyst: Corporate Actuarial – Road Accident Fund

Location: Centurion, Gauteng, South Africa
Employment Type: Permanent
T.A.S.K Grade: 12
Salary: R579,259.00
Reference No: 6284
Closing Date: 28 October 2025

About the Role

The Road Accident Fund (RAF) is seeking an Analyst: Corporate Actuarial Data Science to support the Senior Analyst in analyzing financial risks and managing actuarial data. This role involves predictive modelling, actuarial analysis, reporting, and contributing to data-driven decision-making within the Fund.

Key Responsibilities

Predictive Analytics and Modelling

• Develop and maintain predictive analytics solutions to enhance fraud detection and customer experience
• Assist in training, testing, and deploying new analytical models and algorithms
• Gather and validate statistical data for predictive modelling and forecasting
• Develop scalable, automated processes for data analysis, model development, validation, and implementation
• Maintain prescriptive analytics solutions for fraud monitoring and detection
• Profile data to inform modelling approaches
• Provide technical and administrative support to the actuarial team for statistical reports and analysis

Actuarial Analysis and Reporting

• Support the development of the Revenue Requirement Model (RRM) and related funding scenarios
• Assist in valuation assumptions and perform independent and quarterly valuations on outstanding claims
• Interpret actuarial analyses and determine costs, liabilities, and asset values
• Conduct research on balance sheet management, stochastic reserving, economic capital, and asset-liability management
• Develop actuarial payout models to redesign compensation packages
• Apply stochastic modelling to forecast potential future payments
• Draft reports, scopes, and balance sheet analyses
• Support design, review, and audit of quantitative models for liabilities and capital requirements
• Create data visualizations and utilize specialist software for analytic tasks

Reporting

• Maintain functional reporting systems for management and project updates
• Prepare and submit regular reports to the Senior Analyst
• Manage documentation including proposals, presentations, and performance reports

Stakeholder Management

• Maintain relationships with internal and external stakeholders
• Assist with inquiries and presentation of data findings
• Coordinate with vendors, service providers, and procurement teams

Continuous Improvement and Innovation

• Research industry best practices and technology solutions
• Contribute to improving processes and service delivery
• Participate in creative and improvement initiatives

Qualifications and Experience

• Bachelor’s Degree or Advanced Diploma in Actuarial Science, Mathematics, Investment Management, or Risk Management
• Minimum 4 years’ experience in actuarial data science or related environment

Competencies

Behavioural & Managerial

• Planning, organizing, and coordinating
• Personal mastery and ethical decision-making
• Client service orientation
• Industry knowledge and awareness of external forces

Technical

• Actuarial modelling and reserving
• Data and statistical analysis
• Financial analysis, forecasting, and projections

Additional Information

• RAF offers Total Employment Cost packages with no additional contributions from the employer
• Employment equity principles apply; preference given to People with Disabilities
• Applicants who do not receive correspondence within six weeks from the closing date should consider themselves unsuccessful
• Security vetting will be conducted on all prospective employees
• Foreign qualifications must be evaluated by the South African Qualification Authority (SAQA) with proof provided