Actuarial Risk Modeling Specialist Job Vacancy in Beira, Mozambique – Insurance/Actuarial Science

Job Description

Position: Actuarial Risk Modeling Specialist

Company: Old Mutual Mozambique

Location: Beira, Mozambique

Experience: 5+ years

Education: Master’s Degree in Actuarial Science, Statistics, Mathematics or related field

Employment Type: Full-time

Industry: Insurance/Actuarial Science

Department: Risk Management and Actuarial Services

Vacancies:1

Company Overview

Old Mutual Mozambique is a leading pan-African financial services company that has been operating in the country for over two decades, providing comprehensive insurance solutions, asset management, and retirement planning services to individuals, businesses, and institutions across Mozambique. Our Beira office serves as a regional hub for the central and northern provinces, delivering innovative financial products tailored to the unique needs of the Mozambican market. We are committed to building lasting financial security for our clients through expert guidance, cutting-edge technology, and a deep understanding of local economic conditions. Our team of over 200 professionals in Mozambique works collaboratively to deliver exceptional service while maintaining the highest standards of regulatory compliance and ethical business practices. Old Mutual Mozambique invests significantly in talent development, offering continuous training programs and career advancement opportunities for ambitious professionals seeking to grow in the dynamic African insurance sector. We pride ourselves on fostering an inclusive workplace where diverse perspectives are valued and innovation thrives.

Job Overview

We are seeking a highly skilled Actuarial Risk Modeling Specialist to join our Risk Management and Actuarial Services department in Beira, Mozambique. This critical role will be responsible for developing, maintaining, and validating statistical models used to assess and quantify insurance risks across our portfolio of life, health, and general insurance products. The ideal candidate will leverage advanced analytical techniques and industry-leading software platforms to generate actionable insights that inform strategic business decisions and ensure regulatory compliance with the Instituto Nacional de Supervisão de Seguros de Moçambique (INSSE). This position offers an exciting opportunity for a technically proficient professional to make a significant impact on our organization’s risk management framework while advancing their career in Africa’s growing insurance market. The Actuarial Risk Modeling Specialist will collaborate closely with underwriters, finance teams, and senior leadership to provide data-driven recommendations that optimize our risk selection, pricing strategies, and capital allocation. Explore exciting career opportunities and job vacancies in Mozambique by visiting our careers portal at https://mozambiquejobsearch.com.

Key Responsibilities

• Design, develop, and implement advanced actuarial models for pricing, reserving, and capital modeling across multiple insurance product lines
• Perform quantitative analysis of large datasets to identify trends, patterns, and risk factors influencing insurance loss experience
• Conduct validation and back-testing of statistical models to ensure accuracy, reliability, and regulatory compliance
• Prepare comprehensive technical reports and presentations for executive leadership and regulatory authorities
• Collaborate with underwriting teams to develop risk-adjusted pricing strategies and improve portfolio profitability
• Monitor emerging risks and recommend model enhancements to address changing market conditions
• Support the implementation of IFRS 17 accounting standards and Solvency II equivalent regulations in Mozambique
• Mentor junior analysts and contribute to knowledge sharing initiatives within the actuarial department

Required Skills

• Proficiency in actuarial software platforms including Prophet, AXIS, or similar industry-standard modeling tools
• Advanced programming skills in R, Python, SQL, or VBA for data analysis and model automation
• Strong knowledge of statistical modeling techniques including generalized linear models, survival analysis, and machine learning algorithms
• Excellent analytical thinking and problem-solving capabilities with attention to detail
• Exceptional communication skills with ability to translate complex technical concepts for non-technical stakeholders
• Understanding of Mozambique insurance regulatory framework and international actuarial standards
• Project management skills with ability to handle multiple priorities and meet tight deadlines
• Team-oriented mindset with demonstrated collaboration abilities in cross-functional environments

Education

Candidates must possess a Master’s degree in Actuarial Science, Statistics, Mathematics, Financial Engineering, or a closely related quantitative discipline from a recognized university. Professional actuarial qualifications from the Institute and Faculty of Actuaries, Society of Actuaries, or equivalent international bodies will be highly advantageous. A strong academic record with demonstrated excellence in probability theory, statistical inference, and financial mathematics is essential for this role.

Experience

Minimum of five years of progressive experience in an actuarial role within the insurance or financial services industry is required. Candidates should have demonstrated experience in developing and maintaining actuarial models for life insurance, general insurance, or health insurance products. Prior exposure to regulatory reporting requirements and solvency assessments in African markets will be considered a significant advantage. Experience with data visualization tools such as Tableau or Power BI is preferred.

Benefits

• Competitive salary package commensurate with experience and qualifications
• Comprehensive health insurance coverage for employee and dependents
• Performance-based bonus scheme tied to individual and company objectives
• Professional development support including exam fee reimbursement for actuarial qualifications
• Generous annual leave allowance and flexible working arrangements
• Opportunity to work with international teams and gain exposure to pan-African projects
• Employee assistance program providing counseling and wellness support
• Retirement savings plan with employer matching contributions

Training

• Comprehensive onboarding program introducing company systems, processes, and culture
• Regular technical training sessions on emerging actuarial methodologies and software platforms
• Leadership development programs for career advancement preparation
• Access to online learning platforms and industry conferences for continuous professional growth
• Mentorship pairing with senior actuaries to support professional development journey

Working Environment

The Actuarial Risk Modeling Specialist will work in a modern, collaborative office environment in Beira’s central business district, with access to state-of-the-art technology infrastructure and analytical tools. Our workplace promotes work-life balance with flexible scheduling options and remote work capabilities for eligible tasks. The team operates in a supportive atmosphere that encourages innovation, continuous learning, and professional excellence. Regular interaction with colleagues across the Old Mutual group provides opportunities for knowledge exchange and exposure to best practices from other African markets. The role involves occasional travel to Maputo for regulatory meetings and training sessions.

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Application Process

Interested candidates who meet the specified requirements are invited to submit their updated curriculum vitae along with a cover letter highlighting their relevant experience and motivation for joining Old Mutual Mozambique. Applications should be submitted through our online recruitment portal with the reference number OM-MZ-ARMS-0726. The selection process will involve a preliminary screening of applications, followed by technical assessments and competency-based interviews. Shortlisted candidates will be contacted within four weeks of the application deadline. We encourage applications from qualified professionals who are passionate about contributing to Mozambique’s growing insurance sector and building resilient financial futures for our communities.

Equal Opportunity Statement

Old Mutual Mozambique is an equal opportunity employer committed to diversity and inclusion in the workplace. We do not discriminate based on gender, race, ethnicity, religion, disability, sexual orientation, or any other protected characteristic. We actively promote equal career advancement opportunities and welcome applications from all qualified individuals who share our commitment to excellence and our mission of helping people achieve their financial goals. Learn about career opportunities and employment in Mozambique by visiting https://nigeriajobsearch.com/vacancy-in-nigeria/.