Junior Actuarial Specialist

Location: Blantyre
Job reference: JR-84869
Closing date: 30 October 2026 at 23:59

Job overview

Old Mutual seeks a Junior Actuarial Specialist to undertake actuarial assignments, including the compilation and analysis of losses and reserves.

The successful candidate will develop and improve actuarial procedures, review completed work for accuracy and reasonableness, and recommend appropriate action where required.

Key responsibilities

Actuarial analysis and reporting

• Analyse and present data using established tools, methods and formats to support actuarial analysis, assumption setting and business insights.
• Obtain data from standard sources and prepare accurate reports.
• Perform complex actuarial analyses to support statutory and non-statutory financial reporting and other disclosures.
• Run and monitor Prophet valuation models for monthly, quarterly and annual reporting.
• Perform end-to-end IFRS 17 results reviews, including FCF, RA and CSM analysis.
• Support assumption reviews and experience investigations.
• Perform data validation and valuation reconciliations.
• Support Embedded Value and Value of New Business reporting.
• Prepare actuarial management information, board reports and regulatory reports.

Actuarial models

• Contribute to the development and maintenance of actuarial models.
• Analyse and validate the structure of underlying actuarial assumptions.
• Assist with model testing, model changes and governance documentation.

Product development and management

• Analyse the organisation’s and competitors’ products to identify opportunities for competitive advantage.
• Support the development and ongoing management of new and existing products.
• Provide support to the product development team.

Risk management and funding requirements

• Gather, monitor and analyse risk, financial management and control data.
• Recommend further investigation where necessary.
• Apply established risk management models, systems and protocols under supervision.
• Analyse funding contributions, including employee benefit programmes, to support the evaluation of future funding requirements.

Compliance and continuous improvement

• Develop an understanding of organisational policies, procedures, regulatory requirements and codes of conduct.
• Ensure work complies with applicable standards.
• Obtain supervisory or management authorisation for exceptions to mandatory procedures.
• Implement improvements and provide feedback.
• Use established change management systems and protocols to provide routine support.

Qualification

• A Bachelor’s degree in Actuarial Science.

Skills

• Computer literacy.
• Data compilation and controls.
• Plan execution.
• Information management.
• Insurance product management and sales.
• Legal practices.
• Numerical aptitude.
• Risk management.

Core competencies

• Action-oriented approach.
• Balancing stakeholder needs.
• Building networks.
• Collaboration.
• Effective communication.
• Encouraging innovation.
• Accountability.
• Financial acumen.

How to apply

Submit your application through the Old Mutual careers portal:

Apply for the Junior Actuarial Specialist position

Closing date: 30 October 2026 at 23:59.

Applications go directly to the employer, not to Malawi24.