Senior Actuarial Specialist

oldmutual; Johannesburg; On-site; ZAR 900,000 - 1,500,000; Full time

Job summary

Old Mutual is seeking a Senior Actuarial Specialist to lead pricing and price optimisation for the iWYZE personal lines portfolio. The role blends actuarial expertise, advanced analytics and strategic thinking to drive pricing that balances growth, retention and profitability.

Responsibilities include building optimisation frameworks, identifying opportunities, conducting impact assessments and collaborating with underwriting and product teams to align pricing with corporate objectives.

Qualifications

• Degree in Actuarial Science and impressive exam progression.
• 3–6 years pricing experience in personal lines.
• Strong understanding of pricing principles, strategies and portfolio drivers.

Responsibilities

• Develop and monitor customer-level optimisation frameworks across risk, retention, and lifetime value.
• Identify pricing opportunities through advanced analytics and recommend actionable strategies.
• Run pricing simulations, scenario testing and impact assessments for leadership decisions.
• Collaborate with underwriting, distribution and product to align pricing with business goals.
• Mentor junior analysts and build robust rating models.

Skills

Data Analysis

Pricing Strategies

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

We are seeking an innovative Senior Actuarial Specialist to lead pricing and price optimisation initiatives across the iWYZE personal lines portfolio. The successful candidate will combine actuarial expertise, advanced analytics, and strategic thinking to develop sophisticated pricing solutions that optimise business objectives, improve customer outcomes, and enhance competitive positioning.

This senior role requires a strong focus on price optimisation, pricing strategy, portfolio management, and predictive modelling, while also providing leadership and mentorship to junior team members. The role will be instrumental in identifying and implementing pricing opportunities that balance growth, retention, and profitability objectives.

Key Responsibilities

• Develop and monitor customer-level optimisation frameworks incorporating risk, retention, conversion, and lifetime value considerations.
• Identify pricing opportunities through advanced analytics and recommend actionable strategies to improve business performance.
• Conduct pricing simulations, scenario testing, and impact assessments to support strategic decision-making.
• Partner with underwriting, distribution, and product teams to ensure pricing strategies align with broader business objectives.
• Monitor competitor activity, market trends, and portfolio performance to proactively identify pricing opportunities and risks.
• Supervise and mentor junior actuarial analysts and specialists in pricing model development and portfolio analytics.
• Build and maintain sophisticated rating models.
• Ensure pricing models remain robust, compliant, and aligned with evolving business needs.
• Apply innovative analytical techniques to solve complex commercial pricing challenges.
• Support strategic projects aimed at improving pricing sophistication, automation, and decision-making.

Required Skills, Knowledge, Experience & Qualifications

• Degree in Actuarial Science and impressive exam progression.
• Strong actuarial background with 3-6 years of pricing experience.
• Strong understanding of personal insurance pricing principles, rating structures, and profitability drivers.
• Demonstrated experience in pricing strategy, price optimisation, predictive modelling, and portfolio management.
• Programming and coding expertise for advanced data analysis, model development, and pricing optimisation would be highly advantageous.
• Proven ability to translate analytical findings into practical business recommendations.
• Strong stakeholder management and communication skills.
• Innovative mindset with the ability to challenge conventional thinking and develop creative solutions.
• Experience leading projects and mentoring junior team members.

The Recruitment Process

• TA Interview: This will be a discussion with our Senior Talent Acquisition Specialist to give you an understanding of our business, our culture & values and more context on the role. It will also allow us the opportunity to get to know you more and ensure OMI can meet your career aspirations.
• Panel Interview: This will be with 2 members of the Senior Leadership of the Hiring Team and 1 member of the HC Leadership Team.
• Technical & Psychometric Assessments: These will depend on the role and will sometimes happen concurrently with Vetting through an external service provider & Internal Verification.
• Final Feedback.

All About OMI:

https://www.oldmutual.co.za/about/old-mutual-insure/

Please note that, unfortunately, we cannot accept any applications after the closing date.

Skills

• Data Analysis
• Pricing Strategies

Competencies

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

Education

• Bachelor of Science (BSc): Actuarial Science (Required)

Closing Date

30 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!