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 Distribution Economics team offers a rare chance for an actuary to gain hands on experience across multiple sales channels, applying actuarial, behavioural economics and data science techniques to maximize Value of New Business (VNB).

You will collaborate closely with Finance, Valuation and Business Partner colleagues to ensure our sales strategies are sound, commercially viable and aligned to our broader financial objectives.
As part of Old Mutual’s Mass Foundation Cluster (MFC) within the Finance function, you’ll help drive distribution to South Africa’s lower income market—a segment where MFC has built its success. In this role, you’ll contribute to sales business planning, shape strategic positioning, and engage directly with our sales teams to understand front line challenges and opportunities.

• Immerse yourself in MFC’s purpose driven culture—our strong heritage and commitment to integrated financial solutions that are affordable and accessible is what sets us apart.

• Partner with sales staff from different channels including tied, broker, franchise, virtual and digital channels, ensuring our analytics and recommendations translate into real world impact.

• Influence the future of MFC through input on business planning and strategic initiatives.

• Help reshape our distribution model in response to evolving regulations, AI advancements and industry trends.

What we’re looking for:

• Strong strategic, financial and commercial acumen.

• Proven ability to translate data driven insights into practical, sales focused recommendations.

• Excellent stakeholder management, with experience working alongside finance, actuarial valuation and commercial teams.

• A passion for using analytics to bridge the gap between customers’ resources and their financial service needs.

Key Result Areas

• Develop and implement remuneration and incentive frameworks tailored to each distribution channel, ensuring they support and drive MFC’s strategic goals.

• Build and maintain channel-specific models—incorporating demographic and financial data—to evaluate the costs, benefits, and alignment of existing reward structures, and recommend enhancements where needed.

• Clearly articulate incentive criteria and remuneration policies to all stakeholders, ensuring transparency and understanding.

• Support sales business planning efforts by forecasting sales volumes and distribution expenses and integrating these projections into broader financial plans.

• Prepare and present regular reports on key financial metrics for each channel to both Finance and Distribution leadership.

• Offer strategic guidance and hands‑on support to sales teams, helping them manage and grow their businesses effectively.

• Partner with Finance and Actuarial colleagues to create, validate, and update robust financial models—particularly those measuring Value of New Business (VNB)—that underpin decision‑making across our distribution network.

Requirements:   

• Fully or nearly qualified actuary 

• Creative, solution‑oriented mindset with high energy and a passion for innovation

• Strong commercial awareness and adept negotiation capabilities

• Self‑starter attitude—takes ownership, acts proactively, and adapts quickly to changing priorities

• Proven track record in applying actuarial methods to real‑world business challenges

• Resilient under pressure, with the ability to deliver quality work to tight deadlines

• Excellent interpersonal skills, with clear and persuasive communication 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 StakeholdersBuilds NetworksBusiness InsightCollaboratesCommunicates EffectivelyCultivates InnovationDecision QualityDrives Results

Education

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

Closing Date

28 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!