Senior Actuarial Specialist

Old Mutual; Cape Town; Hybrid; ZAR 60 000 - 100 000; Full time

Job summary

An established industry player is seeking a Senior Actuarial Specialist to join their dynamic team. This role offers a unique opportunity to leverage actuarial and data science techniques to enhance sales strategies across various channels. You will collaborate closely with finance and commercial teams, ensuring that sales initiatives align with broader financial goals. Your contributions will directly impact the distribution strategies aimed at South Africa’s lower-income market, making a tangible difference in the community. If you are passionate about innovation and analytics, this position is perfect for you.

Qualifications

• Fully or nearly qualified actuary with a strong strategic mindset.
• Proven experience applying actuarial methods to real-world challenges.

Responsibilities

• Develop and implement remuneration frameworks for distribution channels.
• Communicate incentive criteria clearly to all stakeholders.
• Partner with Finance and Actuarial colleagues for financial model updates.

Skills

Strategic Acumen

Financial Acumen

Commercial Acumen

Stakeholder Management

Data Analysis

Communication Skills

Education

NQF Level 7 - Degree

Advanced Diploma

Postgraduate Certificate

Job description

Senior Actuarial Specialist page is loaded

Senior Actuarial Specialist

Apply remote type Hybrid locations Pinelands Johannesburg time type Full time posted on Posted 2 Days Ago job requisition id JR-65958

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 practical experience across multiple sales channels, applying actuarial, behavioral economics, and data science techniques to maximize the Value of New Business (VNB).

You will work closely with Finance, Valuation, and Business Partner teams to ensure our sales strategies are robust, commercially viable, and aligned with our broader financial goals.

As part of Old Mutual’s Mass Foundation Cluster (MFC) within the Finance function, you’ll contribute to driving distribution to South Africa’s lower-income market—a segment where MFC has established its success. Your role will involve sales business planning, strategic positioning, and engaging directly with sales teams to understand frontline challenges and opportunities.

• Immerse yourself in MFC’s purpose-driven culture—our heritage and commitment to affordable, accessible financial solutions set us apart.
• Collaborate with sales staff across various channels, including tied, broker, franchise, virtual, and digital, to ensure our analytics and recommendations have tangible impact.
• Influence MFC’s future through input on business planning and strategic initiatives.
• Help adapt our distribution model in response to evolving regulations, AI developments, and industry trends.

What we’re looking for:

• Strong strategic, financial, and commercial acumen.
• Proven ability to translate data insights into practical, sales-oriented recommendations.
• Excellent stakeholder management skills, with experience working alongside finance, actuarial valuation, and commercial teams.
• A passion for using analytics to connect customer resources with their financial needs.

Key Result Areas

• Develop and implement remuneration and incentive frameworks tailored to each distribution channel, supporting MFC’s strategic goals.
• Build and maintain channel-specific models using demographic and financial data to evaluate costs, benefits, and alignment of reward structures, recommending improvements as needed.
• Communicate incentive criteria and remuneration policies clearly to all stakeholders, ensuring transparency.
• Support sales planning by forecasting sales volumes and distribution expenses, integrating these into broader financial plans.
• Prepare and present reports on key financial metrics for each channel to Finance and Distribution leadership.
• Provide strategic guidance and support to sales teams to help them grow their businesses effectively.
• Partner with Finance and Actuarial colleagues to develop, validate, and update financial models, especially those measuring VNB, to inform decision-making across distribution channels.

Requirements:

• Fully or nearly qualified actuary
• Creative, solution-oriented mindset with high energy and a passion for innovation
• Strong commercial awareness and negotiation skills
• Self-starter attitude—ownership, proactive actions, adaptability to change
• Proven experience applying actuarial methods to real-world business challenges
• Resilience under pressure, delivering quality work within deadlines
• Excellent communication skills, both written and verbal

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

Competencies

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.

The Old Mutual Story!

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Old Mutual is a leading African financial services organization offering a wide range of solutions across 14 countries, including Life and Savings, Property and Casualty, Asset Management, and Banking and Lending. We are committed to our purpose of Championing Mutually Positive Futures Every Day, believing that great customer experiences start with great employee experiences.