Senior Actuarial Specialist

Old Mutual South Africa; Cape Town; On-site; ZAR 900,000 - 1,300,000; Full time

Job summary

Old Mutual South Africa's Actuarial Services & Legacy Book Team seeks a Senior Actuarial Specialist to oversee closed product management and performance for savings and income products in Personal Finance.

The role requires collaboration across teams, delivery of strategic projects, and leadership in fair customer outcomes within a dynamic regulatory environment.

Qualifications

• Actuarial student making good progress with actuarial exams.
• At least 4 years of relevant work experience.
• Strong technical skills; product experience would be an advantage.
• Excellent written and verbal communication.

Responsibilities

• Ongoing product management of existing closed products and actuarial oversight.
• Implement annual rate reviews across products.
• Compile ad hoc data extracts and analyze product data for management reporting.
• Assist with client complaints resolution and query management.
• Drive smaller projects to support data fixes and product updates.
• Build and maintain actuarial models.
• Lead investigations on product rules, feasibility studies and regulatory changes.
• Support take-on of new closed product ranges within the team.
• Manage actuarial staff and collaborate with stakeholders across the business.

Skills

Analytical Thinking

Data Analysis

Risk Management

Product Knowledge

Communication 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.

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

Key Results Area:

The role will grant you exposure to the products environment where you can develop sound technical knowledge. The successful candidate will be presented with the following opportunities and responsibilities:

• Ongoing product management of existing closed products including providing technical actuarial product oversight and support
• Product management functions include (but are not limited to):
• Implementing various annual rate reviews across products
• Compiling ad hoc data extracts and analyzing product data for internal management reporting
• Assisting with client complaints resolution
• Query management
• Driving smaller projects to support data fixes, policy clean-ups, product updates and customer communications
• Building and maintaining actuarial models.
• Investigations related to product rules, business optimization and feasibility studies, including product strategy
• undefined
• Play supporting role on strategic projects requiring technical actuarial work and product knowledge
• Representing the area on projects driving the implementation of regulatory changes and new industry standards
• Support the take on and ongoing product management of closed books taken on within the team
• Management of actuarial staff

Qualification and Experience:

• Actuarial student making good progress with actuarial exams
• At least 4 years of relevant work experience.
• Strong technical skills
• Product experience would be a distinct advantage
• Strong detail orientation coupled with the ability to see the "big picture"
• Excellent communication skills (both written and verbal)
• Motivated self-starter who shows initiative, is proactive, looks for ways to improve
• Able to complete tasks within agreed timelines and drive projects to completion with minimal guidance
• Analytical
• Ability to plan and prioritize
• Willing to learn and grow
• High level of accountability

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

Role Overview:

The Old Mutual Actuarial Services & Legacy Book Team is seeking a suitably qualified individual for a Senior Actuarial Specialist role. The team is responsible for product management and performance for both savings and income closed products in the Old Mutual retail market within the Personal Finance segment.

This exciting opportunity offers exposure to an interesting combination of technical and business issues. The role requires a technically sound individual, who can collaborate effectively with various teams and stakeholders at all levels. This is a unique opportunity as the incumbent will play an important role in managing a suite of closed retail products that span the evolution of savings and risk solutions in South Africa - from reversionary bonus policies to universal life products.

As the regulatory environment and industry standards evolve, we need to ensure the suite keeps abreast of these changes which will require the individual to navigate a wide range of technical and business issues. This diverse product set requires adaptability in thinking and the ability to collaborate and execute in partnership with a wide set of stakeholders across the business - including senior management, other product areas, marketing, client servicing, IT, legal and compliance.

The successful candidate’s focus will largely be to support strategically significant projects (of various sizes) for the book, while running with smaller projects and BAU work (business as usual). This will include innovating the processes and systems on which these products are administered and driving the take-on of new closed product ranges within the team.

Highly significant changes are underway in this space, and we are looking for an individual with a passion for delivering fair customer outcomes, change management and execution, to dig in and drive these changes across the line.

Skills

Analytical Thinking, Business, Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Market Analysis, Numerical Aptitude, Product Development, Product Management, Risk Management, Risk Management Solutions

Competencies

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

Education

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

Closing Date

01 October 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!