Intermediate Actuarial Specialist

Old Mutual Life Assurance Company (SA) Ltd; Cape Town; On-site; ZAR 700,000 - 1,000,000; Full time

Benefits offered by this job

Mentoring opportunities

High-performance culture

Job summary

Old Mutual Life Assurance Company (SA) Ltd is seeking an actuarial professional to join the Personal Finance Actuarial Valuations team, focusing on annuity products. You will contribute to financial, capital and risk reporting, IFRS 17 embedment and related processes, while developing expertise in OM Personal Finance products.

The role offers exposure to results presentation, mentoring, and a high-performance team culture based on collaboration and mutual respect.

Qualifications

• Actuarial student with 9 exam credits.
• At least 2 years actuarial experience.
• Knowledge of IFRS 17 and Regulatory Solvency valuations.
• Life Insurance Prophet skills; SQL and Python; advanced MS Excel.

Responsibilities

• Prepare and review financial, capital, and risk metrics for reporting.
• Embed IFRS 17 and accompanying processes.
• Extract insights to understand drivers of key financial metrics.
• Drive process improvement and ensure control environment.
• Support delivery of relevant project objectives as they arise.

Skills

Actuarial exams

Technical skills

Communication skills

Big-picture thinking

Education

BSc Actuarial Science

Tools

SQL

Python

Prophet

MS Excel

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 An exciting opportunity exists within the Personal Finance Actuarial Valuations team (focusing on Annuity products). The successful candidate will have an excellent opportunity to develop their technical and analytical skills. Particularly playing a key role in the production of Financial, Capital and Risk reporting output for Published and Regulatory Reporting, the embedment of IFRS 17 and its accompanying processes. This role will provide the opportunity to develop in-depth knowledge of OM Personal Finance products. It offers opportunities to engage with and present results and outcomes. Our leaders have a wealth of knowledge and experience and are passionate about mentoring and imparting knowledge. Our high-performance team culture is based on mutual respect and collaboration.

Key Result Areas

Financial & Risk reporting: Work with the actuarial team to prepare and review financial, capital, and other risk metrics for published, regulatory and internal reporting with appropriate supporting analysis and commentary. The candidate will get exposure to the following (amongst other things): IFRS 17 standard SAM guidelines EV principles Business insights: Extract insights and understand the drivers of key financial metrics for business consideration. Effectively collaborate with business and other specialized areas such as Accounting, Product Development and Balance Sheet Management Process and model improvement: Critically review existing processes and models to ensure that these are robust, efficient and fit for purpose. Drive synergies, standardisation and continuous improvement, and ensure the control environment is adequate and effective. Projects: Support the delivery of relevant project objectives as these arise.

Requirements: Skills, Qualifications and Experience required

• Actuarial student with 9 exam credits
• At least 2 years actuarial experience
• Strong technical skills
• Strong detail orientation coupled with the ability to see the “big picture”
• Interest in financial modelling software
• The incumbent will have an added advantage if he/she has the experience listed below
• Knowledge of IFRS 17 and Regulatory Solvency valuations
• Life Insurance Prophet skills
• SQL and Python programming skills
• Advanced MS Excel skills

Key behavioural skills and attributes required to fulfil this role

• Self-motivated and energetic individuals who enjoy the challenge of tackling complex issues
• Ability to communicate effectively (written and verbal)
• Ability to complete tasks within agreed timelines and drive projects to completion with minimal guidance
• Ability to plan and prioritise
• High level of accountability
• Willing to learn and grow
• Skills Adaptability, Business, Group Problem Solving, Valuating (Inactive)
• 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

09 October 2026 , 23:59

Appointment

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.

Old Mutual Story!

Old Mutual is a premium African financial services organisation that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 14 countries. The lines of business include Life and Savings, Property and Casualty, Asset Management and Banking and Lending. We are rooted in our purpose of Championing Mutually Positive Futures Every Day and believe that a great customer experience is anchored in a great employee experience.