Actuarial Science & Data Analytics | Old Mutual Careers

Old Mutual, a top financial services company in South Africa, offers careers in Actuarial Science and Data Analytics. These roles are crucial for financial decision-making, risk management, and strategy. With a dynamic environment, Old Mutual supports growth and innovation.

In this guide, we will explore the career opportunities available at Old Mutual for actuaries and data analysts, including salaries, job requirements, and the application process.

Actuarial Science Jobs at Old Mutual

Actuaries play a central role at Old Mutual, working across departments such as insurance, risk management, and financial planning. They use advanced mathematical models to predict future events, calculate risks, and design products that are both competitive and financially sound.

Key Responsibilities of actuaries include:

• Conducting financial modeling and risk assessments.
• Designing and pricing insurance products and investment vehicles.
• Performing valuations of life insurance and pension funds.
• Advising on capital management and solvency strategies.

Actuaries at Old Mutual contribute directly to the company’s financial health by managing risks and ensuring regulatory compliance, particularly in the insurance sector.

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Data Analytics Jobs at Old Mutual

Data Analysts and Data Scientists are essential to Old Mutual’s strategy of making data-driven decisions. These professionals analyze large datasets to uncover trends, predict customer behavior, and optimize business processes. Data analytics teams work closely with departments like marketing, customer service, and product development to provide actionable insights.

Key Responsibilities of data analysts include:

• Collecting, processing, and analyzing large datasets.
• Developing predictive models to assist in decision-making.
• Creating dashboards and visualizations for stakeholders.
• Supporting marketing and product teams with data insights to drive growth.

Data analytics is a rapidly growing field at Old Mutual, providing opportunities for professionals to apply their skills in machine learning, artificial intelligence (AI), and big data.

Skills Required for Actuarial Science Roles

Actuarial roles at Old Mutual require a strong foundation in mathematics, statistical modeling, and risk assessment. In addition to technical skills, actuaries must be able to communicate complex data clearly to non-technical stakeholders.

Key Skills:

• Mathematical modeling and probability theory.
• Proficiency in actuarial software such as Prophet, Excel, R, or Python.
• Strong analytical and problem-solving skills.
• Understanding of regulatory frameworks like IFRS and Solvency II.

Skills Required for Data Analytics Roles

Data analysts and scientists at Old Mutual need to be proficient in data manipulation and analysis tools, with strong problem-solving skills to interpret data and suggest improvements.

Key Skills:

• Experience with data analysis tools like Python, SQL, SAS, or Power BI.
• Knowledge of data visualization and reporting tools (e.g., Tableau, QlikView).
• Strong analytical skills and critical thinking.
• Experience in predictive modeling, machine learning, and AI (for data scientists).

Educational Requirements for Actuarial Science

To work as an actuary at Old Mutual, you will need:

• A Bachelor’s degree in Actuarial Science, Mathematics, or Statistics.
• Progress toward actuarial exams: Old Mutual prefers candidates who are actively pursuing certification through the Actuarial Society of South Africa (ASSA) or other recognized bodies.
• Internship or entry-level experience in a related field is often beneficial.

Educational Requirements for Data Analytics

Data analytics professionals at Old Mutual typically require:

• A Bachelor’s degree in Data Science, Mathematics, Statistics, Computer Science, or related fields.
• Certifications in tools like Microsoft Power BI, Google Data Analytics, or proficiency in Python, SQL, or R.
• Experience working with large datasets, either through internships or previous employment, is valuable.

Salaries for Actuarial Scientists at Old Mutual

Actuarial salaries at Old Mutual vary depending on your level of qualification and experience. Below is a general breakdown:

• Junior Actuary: ZAR 450,000 – ZAR 600,000 per year.
• Mid-Level Actuary: ZAR 600,000 – ZAR 900,000 per year.
• Senior Actuary: ZAR 900,000 – ZAR 1,500,000 per year.

Factors such as the number of completed actuarial exams, job experience, and area of specialization (e.g., life insurance, pensions) can significantly impact salary levels.

Salaries for Data Analysts at Old Mutual

Data analysts and data scientists at Old Mutual enjoy competitive salaries, with pay scales depending on experience, technical skills, and role complexity.

• Junior Data Analyst: ZAR 300,000 – ZAR 450,000 per year.
• Mid-Level Data Analyst: ZAR 450,000 – ZAR 700,000 per year.
• Senior Data Scientist: ZAR 700,000 – ZAR 1,200,000 per year.

Salaries are influenced by experience with cutting-edge technologies like AI, machine learning, and big data analysis.

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How to Apply for Actuarial Science and Data Analytics Jobs at Old Mutual

Here’s a step-by-step guide to applying for actuarial and data analytics jobs at Old Mutual:

1. Visit Old Mutual’s Careers Portal: Go to the official Old Mutual website and navigate to the careers section.
2. Search for Available Jobs: Use filters to find jobs in actuarial science and data analytics.
3. Prepare Your Application: Ensure your CV highlights your qualifications, technical skills, and relevant experience. Tailor your cover letter to the specific job you’re applying for.
4. Submit Your Application: Follow the instructions on the job listing to upload your documents.

Final Thoughts & Mode of Application   

Old Mutual offers great opportunities in Actuarial Science and Data Analytics, with competitive salaries and career growth prospects. Whether you’re an aspiring actuary or a seasoned data scientist, Old Mutual provides a platform for career advancement.