Senior Actuarial Specialist

Old Mutual; United States; Remote; USD 60,000 - 100,000; Full time

Job summary

An established industry player seeks a dynamic actuary to join their Distribution Economics team. This role offers a unique opportunity to apply actuarial and data science techniques to enhance sales strategies in the lower-income market. Collaborating closely with finance and commercial teams, you'll drive impactful recommendations and develop innovative frameworks that align with strategic goals. If you're passionate about analytics and eager to make a difference in financial services, this position is perfect for you!

Qualifications

• Fully or nearly qualified actuary with strong analytical skills.
• Proven experience applying actuarial methods to business challenges.

Responsibilities

• Develop remuneration frameworks tailored to distribution channels.
• Support sales planning and integrate forecasts into financial plans.
• Partner with Finance and Actuarial teams to create financial models.

Skills

Strategic Acumen

Data Analysis

Stakeholder Management

Commercial Awareness

Negotiation Skills

Interpersonal Skills

Communication

Education

NQF Level 7 - Degree

Advanced Diploma

Postgraduate Certificate

Job description

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

The Distribution Economics team offers a unique opportunity for an actuary to gain hands-on experience across multiple sales channels, applying actuarial, behavioural economics, and data science techniques to maximize the Value of New Business (VNB).

You will collaborate closely with Finance, Valuation, and Business Partner colleagues to ensure our sales strategies are sound, commercially viable, and aligned with our broader financial objectives.

As part of Old Mutual’s Mass Foundation Cluster (MFC) within the Finance function, you’ll help drive distribution to South Africa’s lower-income market—a segment where MFC has built its success. In this role, you’ll contribute to sales business planning, shape strategic positioning, and engage directly with our sales teams to understand frontline challenges and opportunities.

• Immerse yourself in MFC’s purpose-driven culture—our strong heritage and commitment to integrated financial solutions that are affordable and accessible set us apart.
• Partner with sales staff from different channels including tied, broker, franchise, virtual, and digital channels, ensuring our analytics and recommendations translate into real-world impact.
• Influence the future of MFC through input on business planning and strategic initiatives.
• Help reshape our distribution model in response to evolving regulations, AI advancements, and industry trends.

What we’re looking for:

• Strong strategic, financial, and commercial acumen.
• Proven ability to translate data-driven insights into practical, sales-focused recommendations.
• Excellent stakeholder management, with experience working alongside finance, actuarial valuation, and commercial teams.
• A passion for using analytics to bridge the gap between customers’ resources and their financial service needs.

Key Result Areas

• Develop and implement remuneration and incentive frameworks tailored to each distribution channel, supporting and driving MFC’s strategic goals.
• Build and maintain channel-specific models—incorporating demographic and financial data—to evaluate costs, benefits, and alignment of existing reward structures, recommending improvements as needed.
• Clearly communicate incentive criteria and remuneration policies to all stakeholders, ensuring transparency and understanding.
• Support sales business planning by forecasting sales volumes and distribution expenses, integrating these into broader financial plans.
• Prepare and present regular reports on key financial metrics for each channel to Finance and Distribution leadership.
• Provide strategic guidance and hands-on support to sales teams to help them manage and grow their businesses effectively.
• Partner with Finance and Actuarial colleagues to create, validate, and update robust financial models—especially those measuring VNB—that underpin decision-making across our distribution network.

Requirements:

• Fully or nearly qualified actuary.
• Creative, solution-oriented mindset with high energy and a passion for innovation.
• Strong commercial awareness and adept negotiation skills.
• Self-starter attitude—takes ownership, acts proactively, and adapts quickly to changing priorities.
• Proven experience applying actuarial methods to real-world business challenges.
• Resilient under pressure, capable of delivering quality work within tight deadlines.
• Excellent interpersonal skills, with clear and persuasive written and verbal communication.

Competencies

• Strategy
• Innovation
• Customer First
• Collaboration
• Personal Mastery
• Execution

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.

Skills & Education

• Balances Stakeholders
• Builds Networks
• Business Insight
• Collaborates
• Communicates Effectively
• Cultivates Innovation
• Decision Quality
• Drives Results

Education: NQF Level 7 - Degree, Advanced Diploma, or Postgraduate Certificate or equivalent

Closing Date

11 May 2025, 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.