Actuarial jobs

Jobs, Career & Information

Looking for an actuarial job in Belgium within the insurance sector, pension funds or financial institutions? On this page, you’ll find current actuarial vacancies (actuary, actuarial analyst, pricing actuary, reserving actuary), along with insights into job responsibilities, specialisations, regulations and career progression opportunities.

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Actuarial science: at a glance

Actuarial science is a specialised field that combines mathematics, statistics and financial analysis to model and manage risks. It is primarily focused on the insurance sector, supporting insurers in pricing and risk management.

Within insurance companies and financial institutions, actuaries play a key role in:

  • product pricing
  • reserve calculations
  • risk assessment
  • modelling
  • capital management

Examples of actuarial vacancies

What does an actuary do in the financial sector?

The exact responsibilities depend on the role and specialisation, but typical responsibilities include:

  • Developing and maintaining actuarial models
  • Calculating technical provisions and reserves
  • Analysing risks and claims data
  • Supporting product development and pricing
  • Performing scenario analyses and stress testing
  • Reporting to management and regulators
  • Supporting Solvency II reporting

The role can range from highly technical (model development) to more business-oriented (advisory and interpretation).

In more senior roles, the focus is on:

  • model governance and validation
  • strategic advice on product development
  • collaboration with risk, finance and underwriting teams

Depending on your preference, you can work through permanent recruitment or opt for consultancy assignments on a project basis.

Specialisations within actuarial science

Pricing

  • Setting rates and premiums
  • Analysing product profitability
  • Supporting product development

Reserving

  • Calculating technical provisions
  • Analysing claims developments
  • Supporting financial reporting

Capital Management & Solvency

  • Calculating capital requirements
  • Supporting Solvency II processes
  • Performing scenario analyses and stress testing

Risk & Modelling

  • Developing risk models
  • Analysing uncertainties
  • Supporting risk management

Reporting & Regulatory

  • Preparing reports for regulators
  • Supporting regulatory compliance
  • Data analysis and interpretation

Life vs Non-Life Actuarial

  • Life insurance (pensions, life insurance policies)
  • Non-life insurance (motor, property, liability, etc.)

Pension Actuary

  • Pension funds and group insurance
  • Long-term liabilities and cash flows

Different job titles within actuarial science

There are various job titles within actuarial science, depending on the area of focus and level of seniority.

Common roles include:

  • Actuary
  • Actuarial Analyst
  • Pricing Actuary / Pricing Analyst
  • Reserving Actuary
  • Capital Actuary
  • Risk Actuary
  • Reporting Actuary
  • Chief Actuary

Alternative titles that are also commonly used include:

  • Actuarial Specialist
  • Actuarial Consultant
  • Quantitative Analyst (in certain contexts)

This variation in job titles can sometimes be confusing, as organisations often use different titles for similar roles.

What actuarial profiles are employers looking for?

Employers look for actuarial professionals with strong analytical and quantitative skills.

Typical backgrounds include:

  • A Master’s degree in Mathematics, Statistics, Actuarial Science or Engineering
  • Experience in actuarial work, risk or data analysis
  • Strong analytical and conceptual thinking skills
  • An interest in insurance and financial markets

Key competencies include:

  • modelling and statistical analysis
  • programming (e.g. Python, R, SAS)
  • accuracy and attention to detail
  • the ability to translate complex analyses into business insights

For more senior roles, employers often expect:

  • experience with Solvency II or IFRS 17
  • model governance and validation
  • stakeholder management

Career progression as an actuary

With a degree in Actuarial Science, you can expect strong opportunities for career progression.

You can progress towards roles such as:

  • Senior Actuary
  • Specialist within a particular field (pricing, reserving, etc.)
  • Team Lead or Manager
  • Chief Actuary
  • Roles in risk, finance or management
  • C-level positions (such as CRO, CFO and CEO)

Many actuaries progress into strategic roles with a significant impact on the organisation.

Job market for actuaries in Belgium

Actuarial science is a niche market with a structural shortage of talent.

Demand for actuaries remains high due to:

  • stricter regulations (Solvency II, IFRS 17)
  • the increasing complexity of insurance products
  • the growing role of data and modelling

At Azuro, we see particularly strong demand for:

  • pricing and reserving actuaries
  • professionals with Solvency II experience
  • candidates combining actuarial expertise with data skills
  • experienced specialists who can make a strategic impact

Opportunities can be found at:

  • insurance companies
  • reinsurers
  • pension funds
  • consulting firms and specialised actuarial firms

Strong actuarial professionals remain scarce and are highly sought after in the Belgian job market.

Regulatory framework

Actuarial work within the financial sector is highly regulated.

Key regulatory frameworks include:

Solvency II (insurance sector)

  • Capital requirements and risk models
  • Calculation of the SCR (Solvency Capital Requirement)
  • Reporting to regulators

IFRS 17

  • New standard for insurance contracts
  • Impact on valuation and reporting

Reserving & Technical Provisions

  • Calculation of liabilities towards customers
  • Important role in financial reporting

Risk & Capital Modelling

  • Scenario analysis and stress testing
  • Integration with risk management frameworks

These regulations make actuarial work a technically and substantively complex field with a significant impact on organisations.

Working as an actuary via Azuro

At Azuro, we help actuarial professionals find roles that match their expertise and ambitions.

We combine:

  • In-depth knowledge of the insurance sector
  • Insight into actuarial roles and organisational structures
  • Access to a strong network of employers
  • Personal guidance and transparent communication
  • A discreet approach tailored to your situation

We help you take a well-considered next step in your career.

Ready for your next step?

Explore our vacancies and apply, or send us your CV so we can contact you when suitable job opportunities arise.

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FAQ - Actuarial jobs

How much does an actuary earn in Belgium?

Indicative gross monthly salaries for actuaries in Belgium:

  • Junior (0–3 years): €3,200–€4,200 / month
  • Mid-level (3–7 years): €4,200–€6,000 / month
  • Senior (7+ years): €5,500–€8,000+ / month

The exact salary depends on factors such as experience, specialisation, level of responsibility and employer. Salaries for managerial positions or highly specialised actuarial roles can be significantly higher.

In addition to the base salary, remuneration packages often include a range of benefits:

  • bonus
  • group insurance
  • hospitalisation insurance
  • company car or mobility budget
  • net allowances

Flexibility is also an important factor in actuarial roles:

  • Flexible working hours are standard in many organisations
  • Working from home 2 to 3 days per week is often possible

Work-life balance is also playing an increasingly important role in candidates’ career choices.

What exactly does an actuary do?

An actuary primarily works within the insurance sector, analysing risks and calculating product pricing. They translate these analyses into financial and pricing models, as well as actionable insights for the organisation and regulatory authorities.

Is there a high demand for actuaries?

Yes. Actuaries are in short supply and remain highly sought after in the job market.

Do you need a specific degree?

Yes. Typically, a Master’s degree in Actuarial Science, Mathematics or a related field is required.

What software do actuaries use?

Commonly used tools include Excel, Python, R, SAS and specialised actuarial software.

Can you progress your career in actuarial science?

Absolutely. You can progress from an analyst role to Chief Actuary and even CRO or CEO, or move into strategic roles within risk and finance.