Senior Actuarial Specialist

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:

As part of Old Mutual’s Personal Finance segment, you will be part of shaping and executing the Retail Protection strategy. The Retail Protection Product team is responsible for a holistic suite of retail protection propositions within our Personal Finance markets across the middle-to-high income markets in South Africa as well as managing the associated reinsurance strategy. Support is also provided to our Namibian business.

Guided by our vision - to be our customer’s first choice to sustain, grow and protect their prosperity - we are passionate about developing simple, yet innovative propositions that are relevant to our customer’s and advisor’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 a Senior Actuarial Specialist. A key focus will be the management of reinsurance arrangements including contracting, data management and ensuring reinsurance arrangements are correctly structured on internal systems and associated processes for reporting purposes.

Collaboration is at the heart of this role. You’ll work in cross-functional teams and engage closely with senior stakeholders across the value chain including IT, legal, finance, claims, underwriting and colleagues within the broader Personal Finance segment.

This is your opportunity to drive meaningful change, combining technical depth, commercial thinking and creativity to differentiate our propositions in a competitive market.

What you’ll love about this role:

• Exposure to a wide range of complex retail protection products to grow your technical product development expertise.
• Ability to bring forward creative ideas to support the business in responding to internal and external challenges including using technology and digital solutions to rethink and optimise ways of work.
• Being part of a broader, dynamic team focused on reshaping the proposition and associated strategies to deliver value.
• Build your stakeholder engagement and interpersonal skills.

What we’re looking for:

• A passion for Protection products and good understanding reinsurance.
• Ability to use data and analytical techniques to draw insights to optimise processes.
• Solution driven, passionate, energetic and innovative approach to work.
• Ability to work in a diverse and evolving environment.

Key Result Areas

In this role, you will be expected to:

• Assisting with overall reinsurance management and maintenance including ensuring correct application of treaty rules and system implementation.
• Engaging with IT for successful implementation of reinsurance structures and processes on the administration system
• Perform various reporting activities with respect to reinsurance arrangements and engage with claims, underwriting and finance teams to ensure reinsurance premiums and recoveries are correctly reflected in reports.
• Engage with external reinsurance partners on data queries and any other impacts emerging from reporting processes.
• Perform other calculation and data analytics functions when required including reconciliation of premiums and recoveries.
• Support the reinsurance team on other deliverables including, ad-hoc reinsurance modelling, monitoring and assessment of reinsurance structures contractual work.

Requirements: Skills, Qualifications and Experience required

• Qualified actuary or actuarial student with excellent exam progress and a minimum of 4 years of experience.
• Reinsurance experience would be an added advantage
• Exposure to coding or process automation will be beneficial
• Business acumen and negotiation skills
• Strong interpersonal and communication skills, with the ability to collaborate effectively across teams with diverse skill sets
• 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
• Ability to complete tasks within agreed timelines with minimal guidance. Capacity to work under pressure when required.

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

Competencies

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

Skills

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

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

02 June 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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