Actuarial & Risk Associate - Microinsurance

About the role

One Acre Fund runs a pilot program in Zambia's Central Province, exploring ways to help farmers improve harvests on larger plots of land. Its office is in Kabwe. The Actuarial & Risk Associate drives the actuarial and data science work behind the fund's smallholder-farmer insurance products, designing and pricing area yield and weather index products for Zambia, modelling repayment risk to protect its loan portfolio against climate shocks, and serving as Interim Principal Officer of its newly licensed microinsurance aggregator entity. The position will help shape the organization's long-term microinsurance strategy.

Key responsibilities

• Design and price index insurance products for smallholder farmers using R, Python and Excel, and support product modelling for other One Acre Fund countries during the off-season.
• Own the credit risk scoring model and lead repayment risk scenario analysis for OAF Zambia, evaluating how weather and yield shocks affect farmer repayment and portfolio performance.
• Contribute to market assessments, advise on farmer-centric financial protection products, and help navigate initial partner conversations.
• Support the microinsurance aggregator licensing process and act as interim principal officer once approved, ensuring ongoing compliance with regulatory and market-conduct standards.

Required profile

• 5+ years in actuarial science, data science or modelling, including direct experience building area yield and weather index insurance products.
• Demonstrated actuarial modelling experience with R or Python for pricing, statistical modelling and portfolio analysis.
• Direct experience with credit scoring models and repayment risk scenario analysis.
• At least 3 years of experience in Zambia's insurance sector, Certificate of Competence in Insurance (required), and active membership with the Insurance Institute of Zambia (nice to have).
• Bachelor's degree in Actuarial Science, Mathematics, Statistics or a related field.
• Citizen or permanent resident of Zambia; preferred start date as soon as possible.

Required skills

• R and Python for actuarial modelling and pricing
• Excel
• Remote sensing tools such as QGIS for spatial and weather-index analysis
• Project management and clear documentation across complex, multi-stakeholder workstreams

What we offer

• Weekly check-ins with the manager, mentorship and training programs, and career reviews every six months.
• Health insurance, housing and comprehensive benefits.