Actuarial Assistant at Madison Group Limited

Overall Responsibility

The job holder will support the delivery of core actuarial functions, including pricing, reserving, data analytics, and capital modelling for the general insurance and medical portfolios. Working under the guidance of the Assistant Manager, the incumbent will contribute to data-driven decision-making aimed at improving underwriting profitability, supporting product development, enhancing pricing adequacy, and providing analytical insights into business performance and emerging risks.

Key Responsibilities

• Support the preparation of actuarial analyses relating to pricing, reserving, portfolio performance, and profitability.  
• Assist in the development, maintenance, and enhancement of actuarial models and analytical tools.  
• Perform data extraction, validation, and analysis to support actuarial investigations and business decision-making.  
• Support pricing reviews and contribute to the assessment of rate adequacy across business lines.  
• Assist in monitoring portfolio experience and identifying company and industry trends in claims, premiums, expenses, and other key performance indicators.  
• Contribute to the development of new products and enhancement of existing products.  
• Prepare actuarial reports, management information, and regulatory submissions as required.  
• Collaborate with underwriting, finance, operations, and other business units to provide actuarial insights and support.  
• Ensure actuarial work complies with applicable regulatory requirements, professional standards, and company policies.  
• Participate in initiatives aimed at improving actuarial processes, data quality, automation, and reporting efficiency

Skills and Competencies Required

• Sound understanding of actuarial, statistical, and data analysis concepts. 
• Strong analytical and problem-solving skills with a high level of accuracy and attention to detail. 
• Working knowledge of R and/or Python and Power BI; willingness to develop SQL skills for data management and ETL processes. 
• Proficiency in Microsoft Excel and other analytical tools. 
• Ability to organize and manage multiple tasks while meeting deadlines. 
• Strong interpersonal and teamwork skills with the ability to collaborate across functions. 
• Effective written and verbal communication skills, including the ability to present technical findings clearly. 
• Curiosity, initiative, and a willingness to learn and adapt in a dynamic environment. 
• High standards of professionalism, integrity, and accountability

Knowledge & Work Experience

• Understanding of general insurance principles and familiarity with statistical modelling, data analysis, and quantitative problem-solving techniques. 
• Awareness of the regulatory and business environment within the insurance industry. 
• Prior actuarial or insurance industry experience is desirable but not mandatory. 
• Internship, industrial attachment, academic projects, or practical experience involving data analysis, statistical modelling, or insurance related work will be an added advantage.

Academic and Professional Qualifications required

• Bachelor’s degree in Actuarial Science, Statistics, Mathematics, Data Science, or a related quantitative field. 
• Progress towards a recognized actuarial qualification (SOA, IFoA, CAS, or equivalent), with at least one actuarial examination passed being an added advantage. 
• Demonstrated proficiency in quantitative analysis and use of analytical software tools.