Actuarial Analyst Job Vacancy in Lusaka, Zambia – Insurance

Job Description

Position:Actuarial Analyst

Company:Allianz Zambia

Location:Lusaka, Zambia

Experience:2-4 years of actuarial experience

Education:Bachelor’s degree in Actuarial Science, Mathematics, Statistics or related field; actuarial exams progress preferred

Employment Type:Full-time

Industry:Insurance

Department:Actuarial & Risk Management

Salary:SSP 120,000 – 180,000 per month

Vacancies:1

Company Overview

Allianz Zambia is a leading provider of insurance and financial services, part of the global Allianz Group that operates in more than 70 countries. With a strong commitment to innovation, customer centricity, and sustainable growth, Allianz Zambia delivers a wide range of products including life, health, property, and casualty insurance. The company plays a pivotal role in supporting the economic development of Zambia by offering risk management solutions to individuals, SMEs, and large corporations. As a dynamic workplace, Allianz Zambia fosters a culture of continuous learning, diversity, and inclusion, making it an attractive destination for professionals seeking rewarding career opportunities in the insurance sector.

Job Overview

The Actuarial Analyst will join the Actuarial & Risk Management department to support product pricing, reserving, and financial reporting activities. This role involves applying statistical and mathematical techniques to assess risk, develop pricing models, and ensure regulatory compliance. The successful candidate will collaborate with underwriters, finance, and data science teams to provide actionable insights that drive profitability and strategic decision‑making. For more information, visit Zambia Jobs Search. This position offers a unique chance to contribute to the growth of a world‑class insurer while advancing your actuarial career in Zambia.

Key Responsibilities

• Develop and maintain actuarial models for life and health insurance products.
• Perform pricing analysis and profitability assessments for new and existing products.
• Calculate technical reserves and ensure compliance with local regulatory standards.
• Prepare actuarial reports for senior management and external auditors.
• Collaborate with underwriting and finance teams to align pricing strategies with business goals.
• Analyze large data sets to identify trends, loss ratios, and emerging risks.

Required Skills

• Proficiency in actuarial software such as Prophet, MoSes, or similar tools.
• Strong analytical and quantitative skills with attention to detail.
• Advanced Excel skills; experience with SQL or R is a plus.
• Excellent communication skills for presenting complex findings to non‑technical stakeholders.
• Ability to work independently and as part of a cross‑functional team.
• Knowledge of Zambian insurance regulations and IFRS 17 is advantageous.

Education

A bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related quantitative discipline is required. Candidates who have progressed through actuarial professional exams (e.g., IFoA, SOA) will be given preference.

Experience

Applicants should have 2‑4 years of relevant actuarial experience, preferably within the insurance industry, with exposure to product pricing, reserving, or risk modeling.

Salary

The compensation package ranges from SSP 120,000 to SSP 180,000 per month, commensurate with experience and qualifications, and includes performance‑based bonuses.

Benefits

• Comprehensive health and life insurance coverage.
• Retirement savings plan with employer contributions.
• Paid annual leave and statutory holidays.
• Professional development allowance for actuarial exams.
• Flexible working arrangements and remote work options.

Training

• On‑boarding program covering Allianz systems, processes, and compliance.
• Access to internal and external actuarial training workshops.
• Mentorship from senior actuaries and risk managers.
• Opportunities to attend industry conferences and seminars.

Working Environment

Allianz Zambia offers a collaborative, inclusive, and technology‑enabled workplace located in the heart of Lusaka’s business district. Employees benefit from modern office facilities, a supportive team culture, and a strong emphasis on work‑life balance.

Application Process

Interested candidates should submit their updated CV and a cover letter outlining their suitability for the role through the online portal on our website. Applications will be reviewed on a rolling basis, and shortlisted candidates will be contacted for an initial interview.

Equal Opportunity Statement

Allianz Zambia is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of gender, race, religion, or sexual orientation. Our hiring practices support Zambia Jobs, Jobs in Zambia, Job Vacancy in Zambia, Career Opportunities in Zambia, Employment in Zambia, and Hiring in Zambia.