Intermediate Actuarial Specialist: Life & Savings (Personal Finance Product)

Old Mutual; Wes-Kaap; On-site; ZAR 600 000 - 900 000; Full time

Job summary

A leading financial services provider in South Africa is seeking an Intermediate Actuarial Specialist to manage and support retail protection products. The role requires strong actuarial knowledge with at least 9 exam credits and experience in product development. Responsibilities include designing product propositions and ensuring compliance with regulations. This position offers an exciting opportunity to work closely within a team and deliver impactful financial solutions to customers. Closing date for applications is January 15, 2026.

Qualifications

• Actuarial student with a minimum of 9 exam credits and 2 years’ experience.
• Product development experience would be beneficial.
• Ability to work independently and in teams.

Responsibilities

• Manage and design the Retail Protection product range.
• Produce product specification documents.
• Provide product support on rules and underwriting.

Skills

Computer Literacy

Data Compilation

Risk Management

Insurance Product Management

Negotiation Skills

Education

NQF Level 7 - Degree or equivalent

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 Team

The Retail Protection Product Team is responsible for the design, development and maintenance of new and existing retail protection propositions within our Personal Finance markets across the middle-to-high income markets in South Africa. Development support is also provided to our Namibian business.

We are passionate about developing simple, yet innovative propositions that are relevant to our customer’s needs, deliver on its promises and ultimately enable our customers to achieve their financial dreams and goals.

The Retail Protection Product Team has an exciting opportunity for an Intermediate Actuarial Specialist. A key focus will be the delivery of major projects and product developments across the South African and Namibian retail market as well as providing ongoing support and product management to Old Mutual’s retail protection products. The role will support the current product ranges as well as any new and innovative propositions for our retail customers. This includes but will not be limited to Life, Disability, Severe Illness and Funeral Cover.

Key Result Areas

• Play a key role in the design and ongoing management of the Retail Protection product range
• Produce and maintain product specification documents related to the above
• Manage risk and competitiveness of protections products
• Provide product support on technical product rules, underwriting and/or claims
• Incorporate regulatory impacts into retail protection products
• Work cross-functionally to deliver on pre-defined pieces of work and support the technical actuarial aspects of the delivery of end-to-end solutions.

Please note: the appointments may be made at a lower role size depending on the successful candidates’ experience and exam progress

Requirements: Skills, Qualifications and Experience required

• Actuarial student with a minimum of 9 exam credits and 2 years’ actuarial experience
• Product development experience would be an added advantage
• Business acumen and negotiation skills
• Good interpersonal and communication skills
• Ability to work independently, as well as in a team
• Ability to work on a wide range of deliverables over a given period of time
• Good time management to work towards deadlines

Competencies

• Strategy
• Innovation
• Leading with Influence
• Collaboration
• Customer First
• Execution
• Personal Mastery

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

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

15 January 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.

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