Senior Actuarial Analyst Job Vacancy in Zomba, Malawi – Insurance & Financial Services
Job Description
Position: Senior Actuarial Analyst
Company: Old Mutual Malawi
Location: Zomba, Malawi
Experience: 5+ years of actuarial experience
Education: Bachelor’s degree in Actuarial Science, Mathematics, Statistics or related field; professional actuarial qualification preferred
Employment Type: Full-time
Industry: Insurance & Financial Services
Department: Actuarial & Risk Management
Salary: SSP 2,500,000 – 3,500,000 per annum
Vacancies:1
Company Overview
Old Mutual Malawi is a leading provider of life insurance, retirement solutions, and wealth management services across the country. With a legacy of over a century in the African market, Old Mutual is committed to fostering financial security and inclusive growth. The company operates under a strong ethical framework, delivering innovative products that meet the evolving needs of individuals, families, and businesses. As a key player in the Insurance & Financial Services sector, Old Mutual Malawi contributes significantly to the national economy and offers a vibrant workplace for professionals seeking career advancement. This role supports the company’s mission to provide sustainable financial solutions, making it an attractive opportunity for ambitious actuarial talent looking for meaningful impact in Malawi Jobs.
Job Overview
The Senior Actuarial Analyst will join the Actuarial & Risk Management department to lead complex pricing, reserving, and risk assessment projects. Reporting to the Head of Actuarial, the incumbent will collaborate with underwriting, finance, and product development teams to ensure accurate financial modeling and compliance with regulatory standards. This position plays a pivotal role in shaping product strategies, optimizing profitability, and enhancing the company’s risk framework. Candidates will have the chance to work on diverse insurance lines, including life, health, and pension products, while contributing to the broader goals of Employment in Malawi and Career Opportunities in Malawi.
Key Responsibilities
- Develop and maintain actuarial models for pricing, reserving, and profitability analysis across multiple insurance lines.
- Conduct regular risk assessments, scenario testing, and sensitivity analyses to support strategic decision‑making.
- Prepare detailed actuarial reports for senior management, regulators, and external auditors.
- Collaborate with underwriting and product teams to design competitive and compliant insurance products.
- Monitor emerging market trends, regulatory changes, and actuarial best practices to ensure continuous improvement.
- Mentor junior analysts and provide technical guidance on actuarial methodologies.
Required Skills
- Advanced proficiency in actuarial software (e.g., Prophet, MoSes) and statistical tools (R, SAS, Python).
- Strong analytical and quantitative skills with a keen eye for detail.
- Excellent communication abilities to translate complex actuarial concepts to non‑technical stakeholders.
- Project management experience with the capacity to handle multiple priorities.
- Knowledge of Malawi’s insurance regulatory environment and IFRS 17 standards.
Education
A bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a closely related discipline is required. Candidates who have completed professional actuarial examinations (e.g., IFoA, SOA) or are actively pursuing them will be given strong consideration. Continuous learning and professional development are highly valued, aligning with the company’s commitment to talent growth.
Experience
Applicants must possess a minimum of five years of hands‑on actuarial experience within the insurance sector. Experience in life and health insurance, product development, and regulatory reporting is essential. Prior exposure to the Malawian market or similar emerging economies will be advantageous.
Salary
The compensation package ranges from SSP 2,500,000 to SSP 3,500,000 annually, commensurate with experience and qualifications. The package includes performance‑based bonuses, pension contributions, and comprehensive health benefits, reflecting Old Mutual’s competitive approach to attracting top talent.
Benefits
- Medical and dental coverage for employee and dependents.
- Retirement savings plan with employer matching.
- Annual performance bonus linked to individual and company targets.
- Paid parental and compassionate leave.
- Employee assistance program and wellness initiatives.
Training
- Support for professional actuarial exams and continuous education.
- Access to internal and external workshops on advanced modeling techniques.
- Mentorship program with senior actuaries and industry experts.
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Working Environment
Old Mutual Malawi offers a collaborative, inclusive, and technology‑driven workplace. The office in Zomba provides modern facilities, flexible working arrangements, and a culture that encourages innovation and knowledge sharing. Employees benefit from a supportive leadership team that values diversity and promotes work‑life balance.
Application Process
Interested candidates should submit their updated CV and a cover letter outlining their relevant experience through the online portal. Applications will be reviewed on a rolling basis, and shortlisted candidates will be invited for a virtual interview followed by an on‑site assessment. For further details, visit the company’s career page or contact the recruitment team via the portal.
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Equal Opportunity Statement
Old Mutual Malawi is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of gender, race, religion, disability, or sexual orientation. Our hiring practices focus on merit and potential, ensuring fair treatment for every applicant.
