Actuarial Analyst Job Vacancy in Lichinga, Mozambique – Insurance & Financial Services

Job Description

Position:Actuarial Analyst

Company:Old Mutual Mozambique

Location:Lichinga, Mozambique

Experience:2-4 years

Education:Bachelor’s degree in Actuarial Science, Mathematics, Statistics or related field

Employment Type:Full-time

Industry:Insurance & Financial Services

Department:Risk Management

Salary:150,000 – 250,000 SSP per month

Vacancies:1

Company Overview

Old Mutual Mozambique is a leading provider of insurance, retirement, and investment solutions across Southern Africa. With a legacy spanning more than a century, the company is committed to fostering financial security and inclusive growth throughout Mozambique. Operating from its regional hub in Maputo and extending services to provincial centers such as Lichinga, Old Mutual delivers tailored products that meet the diverse needs of individuals, families, and businesses. The organization prides itself on a culture of integrity, innovation, and community engagement, making it a top employer for professionals seeking meaningful impact in the insurance sector. As part of its strategic expansion, Old Mutual continues to invest in talent that can drive data‑driven risk assessment and product development, creating a vibrant environment for career advancement.

Job Overview

The Actuarial Analyst will join the Risk Management Department to support the design, pricing, and valuation of insurance products. This role is central to ensuring that Old Mutual Mozambique maintains competitive yet sustainable premium structures while adhering to regulatory standards. The analyst will collaborate with underwriting, finance, and product development teams to translate complex statistical models into actionable business insights. Candidates will have the opportunity to work on a variety of life and general insurance lines, contributing to the company’s mission of delivering reliable protection to Mozambican communities. For more information about our corporate values and career pathways, visit Mozambique Job Search.

Key Responsibilities

• Develop and maintain actuarial models for life, health, and general insurance products.
• Perform pricing analysis, profitability assessments, and reserve calculations.
• Collaborate with underwriting to refine risk selection criteria based on statistical findings.
• Prepare technical reports and presentations for senior management and regulatory bodies.
• Monitor emerging market trends and regulatory changes affecting actuarial assumptions.
• Assist in the development of new product concepts by providing feasibility studies and financial projections.
• Support the annual actuarial valuation process and quarterly reporting cycles.

Required Skills

• Strong proficiency in actuarial software (e.g., Prophet, Moses) and statistical tools such as R or Python.
• Excellent analytical and quantitative abilities with a keen eye for detail.
• Effective communication skills to convey complex concepts to non‑technical stakeholders.
• Ability to work independently and as part of cross‑functional teams.
• Knowledge of Mozambique insurance regulations and Solvency II principles is advantageous.

Education

A minimum of a bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a closely related discipline is required. Professional actuarial qualifications (e.g., IFoA, CAS) are highly desirable and will be considered a strong asset during the selection process.

Experience

Applicants should possess 2 to 4 years of relevant actuarial experience within an insurance or financial services environment. Experience in the Mozambican market or other emerging economies is a plus, as it demonstrates familiarity with local risk factors and data availability challenges.

Salary

The compensation package ranges from 150,000 to 250,000 SSP per month, commensurate with experience and qualifications. In addition to the base salary, the role includes performance‑based bonuses and a comprehensive benefits suite.

Benefits

• Health insurance covering employee and dependents.
• Retirement savings plan with employer contributions.
• Paid annual leave and statutory holidays.
• Professional development allowance for actuarial exams and certifications.
• Employee assistance program and wellness initiatives.

Training

• Onboarding program covering Old Mutual’s systems, policies, and corporate culture.
• Continuous learning workshops on advanced actuarial techniques and data analytics.
• Mentorship pairing with senior actuaries to accelerate skill development.
• Access to online courses and industry conferences to stay current with best practices.

Working Environment

Based in the modern Old Mutual office in Lichinga, the Actuarial Analyst will enjoy a collaborative workspace equipped with the latest technology. The company promotes a flexible work arrangement, encouraging a healthy work‑life balance while maintaining high standards of professionalism. Employees are part of a diverse, inclusive team that values innovation and ethical decision‑making.

Application Process

Interested candidates should submit their updated CV and a cover letter outlining their suitability for the role through the Old Mutual careers portal. Applications will be reviewed on a rolling basis, and shortlisted applicants will be invited to complete a technical assessment followed by an interview with the Risk Management leadership team.

Equal Opportunity Statement

Old Mutual Mozambique is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of gender, age, disability, ethnicity, religion, or sexual orientation. Our hiring practices reflect our dedication to fairness and meritocracy, ensuring that every qualified candidate receives equal consideration.