Intermediate Actuarial Specialist

Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

We are an African Insurance Giant

Be a part of our business that is growing its footprint across Africa. Old Mutual is an insurance giant in Africa, with life insurance entities currently established in Namibia, eSwatini, Zimbabwe, Ghana, Botswana, Malawi, Kenya and Uganda. Our expanding emerging market footprint includes operations not only in the rest of Africa, but also in Asia and represents a vast network of opportunity for innovative, creative and motivated individuals to benefit from while they gather unmatched professional experience on the way to becoming a leader in our business.

Why the Africa Actuarial Services Team?

In this role, you will work as part of a team tasked with providing actuarial services to the life entities in the Old Mutual Africa Regions, consolidating and explaining the life financial results for Old Mutual Africa in all aspects of reporting: monthly management reporting, forecasting, business planning, quarterly IFRS and MCEV reporting as well as capital reporting to regulators.

The team works closely with the Old Mutual Africa Regions executive team, OMEM central reporting team and in-country Finance Directors and actuarial teams in producing results that drive decision making to help accomplish the Old Mutual Emerging Markets (OMEM) growth strategy. In addition, the team has strong working relationships with the Statutory and Country Actuaries of the various countries.

We are a vibrant, diverse team, thriving on new ideas and high performance while making a meaningful impact on our customers in Africa. Our team will continue to grow in numbers, playing a key role in further building Old Mutual’s actuarial base. Our team also continues to provide great opportunities for innovative, creative and motivated individuals to benefit and learn from while they gather unmatched professional experience and exposure to a variety of different countries and cultures on the way to becoming a leader in our business.

Key Result Areas

Financial Reporting:

• Ensure that valuation results (IFRS17 profits, Embedded Value and Value of New Business) are produced accurately, within agreed deadlines and with appropriate supporting commentary.

• Ensure timely and accurate delivery of capital numbers covering both in-country regulatory capital requirements and SAM reporting for Old Mutual Group.

• Ownership of the custom-built Prophet models, plus other models, for calculation of liabilities, embedded value and capital in various African countries.

• Presenting quarterly results to Finance Actuary, Line 2 and Line 3 actuaries.

General

• Ensure that all actuarial processes are performed as efficiently as possible, finding and delivering continuous process improvement and standardisation opportunities as well as ensuring processes are performed with appropriate controls.

Requirements: Skills, Qualifications and Experience required

• Actuarial student with a minimum of 9 exam credits and 2 years’ work experience (exceptional candidates not meeting the requirement will be considered)

• IFRS17 experience added advantage

• Advanced MS Excel skills

• Data management, modelling and controls

Competencies

• Motivated self-starter

• Takes initiative

• Ability to interact effectively with people at all levels of the organisation

• Ability to complete tasks within agreed timelines with minimal guidance

• Strong technical skills (especially with valuations experience in Prophet)

• Attention to detail

• Excellent people skills

• Ability to work in a team

• High levels of drive, energy, and innovation who are willing to learn and grow

• Innovation

• Collaboration

• Execution

• Personal Mastery

Please note that the appointments may be made at a lower role size depending on the successful candidates’ experience

 

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Skills

Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Numerical Aptitude, Risk Management

Competencies

Action Oriented

Balances Stakeholders

Builds Networks

Business Insight

Collaborates

Communicates Effectively

Cultivates Innovation

Decision Quality

Education

Bachelor of Science (BSc): Actuarial Science (Required)

Closing Date

25 September 2026 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

The Old Mutual Story!