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Old Mutual South Africa
Old Mutual is a leading financial services provider in South Africa, offering a range of products such as insurance, investments, and retirement solutions. Actuarial analysts at Old Mutual play a critical role in ensuring the financial stability and competitiveness of its offerings.
Job Description & Details
Old Mutual is renowned for its support of actuarial professionals, providing resources for exam preparation, professional development opportunities, and the chance to work on innovative projects in the financial industry.
Responsibilities of an Actuarial Analyst at Old Mutual
Risk Assessment and Financial Modeling
- Analyzing data to identify potential risks and recommend mitigation strategies.
- Developing financial models to predict future performance and ensure solvency.
Supporting Product Development
- Assisting in the design and pricing of insurance and investment products.
- Ensuring products are competitive and aligned with market trends.
Regulatory and Compliance Reporting
- Preparing reports to meet regulatory requirements, such as solvency and capital adequacy standards.
- Collaborating with compliance teams to ensure adherence to industry regulations.
Benefits of Working as an Actuarial Analyst at Old Mutual
Competitive Salaries and Performance Bonuses
Old Mutual offers attractive compensation packages, including performance-based bonuses and other incentives.
Professional Growth and Exam Support
Actuarial analysts receive study support, including paid study leave, reimbursement for exam fees, and access to resources to help them progress through actuarial exams.
Opportunity to Work on High-Impact Projects
Working at Old Mutual provides exposure to diverse and impactful projects, including product innovation and enterprise risk management.
Salary Expectations for Actuarial Analysts at Old Mutual
Average Salary Ranges
- Entry-Level Actuarial Analysts: R40,000–R60,000 per month
- Mid-Level Analysts (Qualified or Nearly Qualified): R70,000–R100,000 per month
- Senior Actuarial Analysts: R100,000–R150,000+ per month
Factors Influencing Earnings
- Exam Progression: Salaries increase significantly as analysts pass actuarial exams.
- Experience Level: More experienced analysts command higher salaries.
- Specialization: Skills in niche areas like risk management or advanced modeling may lead to higher pay.
Requirements for Actuarial Analyst Jobs at Old Mutual
Educational and Certification Requirements
- Minimum Education: Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field.
- Actuarial Exams: Progress toward qualification through recognized actuarial bodies (e.g., ASSA or IFoA).
Key Skills and Attributes Needed
- Analytical Skills: Strong ability to interpret complex data and build predictive models.
- Technical Proficiency: Expertise in software like Excel, R, Python, or actuarial modeling tools.
- Attention to Detail: Ensuring accuracy in calculations and compliance reporting.
- Communication Skills: Explaining technical findings to non-technical stakeholders.
How to Apply for Actuarial Analyst Jobs at Old Mutual
Searching for Job Opportunities
- Visit the Old Mutual Careers Page to find available actuarial roles.
Preparing Your Application (CV and Supporting Documents)
- CV: Highlight academic achievements, actuarial exam progress, and technical skills.
- Supporting Documents: Include certified copies of your qualifications and proof of actuarial exam results.
The Recruitment Process
- Application Submission: Submit your application online with all required documents.
- Screening and Shortlisting: Applications are reviewed for qualifications and suitability.
- Assessments and Interviews: Candidates may complete numerical assessments, case studies, or panel interviews.
- Offer: Successful applicants receive an offer detailing their salary, benefits, and job responsibilities.