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Job Description

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Are you ready to help shape the future of legacy financial products while honouring their rich history? Old Mutual’s Closed Book Actuarial team is on the hunt for a dynamic, technically skilled individual to join as an Intermediate Actuarial Specialist.

The Closed Book Actuarial team, within the wider Legacy and Product Management team, is responsible for product and performance management of universal life, savings and income closed products in the Old Mutual retail market.

This is a unique opportunity to support a wide array of closed retail products — from classic reversionary bonus policies to cutting-edge savings solutions — servicing customers with substantial assets under management. You’ll be working with products that reflect decades of financial evolution in South Africa—this is your chance to make an impact.

We are looking for an individual with a passion for delivering fair customer outcomes while focusing on execution of tasks. You’ll play a vital role in supporting strategically significant projects while driving innovation across business-as-usual operations. Your work will directly influence how legacy products are administered, enhanced, and positioned for ongoing relevance in a changing landscape.

Key Result Areas

Ongoing product management functions include (but are not limited to):

Providing technical actuarial product support on tasks.

Implementing various annual rate reviews across products.

Compiling ad-hoc data extracts and analysing product data for internal management reporting.

Assisting with client complaints resolution and query management.

Driving smaller projects to support data fixes, policy clean-ups, product updates and customer communications.

Building and maintaining actuarial models.

Investigations related to product rules, business optimisation and feasibility studies, including product strategy.

Collaborating across departments (Product, Marketing, IT, Legal, Compliance, Client Services, and Senior Management) to deliver meaningful updates and improvements.

Play supporting role on strategic projects requiring technical actuarial work and product knowledge

Supporting projects driving the implementation of regulatory changes and new industry standards. 

Support the take on and ongoing product management of closed books taken on within the team

Role Qualifications, Skills and Experience required

Actuarial student with a minimum of 9 credits with at least 2 years actuarial experience.

Self-starter who shows initiative and is able to drive tasks to completion with some guidance.

Analytical

Good interpersonal and communication skills.

Good time management to work towards deadlines

Product experience would be an advantage.

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

Education

Bachelors Degree in Actuarial Science (Required)

Competencies

Customer First

Leading with Influence

Collaboration

Execution

Personal Mastery

Strategic

Innovation

Skills

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

Competencies

Action OrientedBalances StakeholdersBuilds NetworksBusiness InsightCollaboratesCommunicates EffectivelyCultivates InnovationDecision Quality

Education

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

Closing Date

15 August 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.

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