Intermediate Actuarial Specialist - Product and Pricing Enablement

Old Mutual Life Assurance Company (SA) Ltd; Johannesburg; On-site; ZAR 900,000 - 1,300,000; Full time

Job summary

Old Mutual Life Assurance Company (SA) Ltd is seeking an actuarial professional for the Retail Mass Market Product and Pricing team in South Africa. The role involves developing and pricing protection products, performing experience analyses and supporting pricing testing across policy systems.

The position reports to the Senior Actuarial Supervisor and requires strong data skills, Excel proficiency and experience with actuarial modelling tools.

Qualifications

• Actuarial student with a minimum of 9 exam credits, with at least 3 years actuarial experience within life insurance, protection products or a related actuarial function.
• Experience in product development, pricing and/or experience investigations.
• Understanding of life insurance products and profitability drivers.
• IFRS 17 knowledge will be advantageous.
• Please note: the appointment may be made at a lower role size depending on the successful candidates’ experience and exam progress.

Responsibilities

• Deliver on product development and pricing, including product specifications, pricing reviews and experience investigations.
• Product rules and pricing testing, which includes regression, new business, servicing and claims.
• Production support for where there is missing functionality across the various policy administration systems.
• Developing requirements for system changes.
• Contribute to strategic projects and business initiatives across the Protection Product team.
• Collaborate with a wide range of stakeholders.
• Maintain actuarial models, assumptions, documentation and reporting processes.
• Identify opportunities to improve processes, controls and automation.
• Management of product and pricing mailbox queries.

Skills

Analytical and problem-solving skills

Advanced Excel

Prophet or similar actuarial modelling

SQL or Python experience

Data analysis and reporting

Education

Bachelor of Science (BSc): Actuarial Science

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 About the Role Join Old Mutual's Retail Mass Market Product and Pricing team and help deliver innovative protection solutions that create customer value and support sustainable business growth.

Reporting to the Senior Actuarial Supervisor, you will contribute to product development, pricing, experience analysis and strategic initiatives across the protection product portfolio.

This role is suited to a technically strong actuarial professional who enjoys solving complex business problems, working with data and collaborating across multiple stakeholders.

Key Responsibilities

• Deliver on product development and pricing, including product specifications, pricing reviews and experience investigations.
• Product rules and pricing testing, which includes regression, new business, servicing and claims.
• Production support for where there is missing functionality across the various policy administration systems.
• Developing requirements for system changes.
• Contribute to strategic projects and business initiatives across the Protection Product team.
• Collaborate with a wide range of stakeholders.
• Maintain actuarial models, assumptions, documentation and reporting processes.
• Identify opportunities to improve processes, controls and automation.
• Management of product and pricing mailbox queries.

Qualifications & Experience

Actuarial student with a minimum of 9 exam credits, with at least 3 years actuarial experience within life insurance, protection products or a related actuarial function.

Experience in product development, pricing and/or experience investigations.

Understanding of life insurance products and profitability drivers.

IFRS 17 knowledge will be advantageous.

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

Technical Skills

• Analytical and problem-solving skills.
• Advanced Excel skills.
• Experience with Prophet or similar actuarial modelling tools.
• SQL or Python experience will be advantageous.
• Strong data analysis and reporting capabilities.

Competencies

Strategy Innovation Collaboration Leading with Influence Execution Customer First Personal Mastery

Why Join Us?

This is an opportunity to work across the full protection product value chain, from product design and pricing to performance management and strategic delivery. You'll work alongside experienced actuarial professionals, build your technical expertise and contribute to solutions that make a meaningful difference in customers' lives.

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

18 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! 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.