Actuarial Analyst Job Vacancy in Okahandja, Namibia – Insurance

Job Description

Position:Actuarial Analyst

Company:Old Mutual Namibia

Location:Okahandja, Namibia

Experience:2-4 years

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

Employment Type:Full-time

Industry:Insurance

Department:Risk Management

Salary:SSP 300,000 – SSP 450,000 per month

Vacancies:1

Company Overview

Old Mutual Namibia is a leading financial services provider with a strong heritage in insurance, investment and wealth management across Southern Africa. With a commitment to innovation, customer centricity and sustainable growth, Old Mutual Namibia supports the financial security of individuals, families and businesses throughout the country. The company operates under rigorous regulatory standards and promotes a culture of integrity, diversity and continuous learning. As part of its expansion strategy, Old Mutual Namibia is establishing a new analytics hub in Okahandja, creating exciting career opportunities for professionals who are passionate about data‑driven decision making and risk management. This role contributes directly to the company’s mission of delivering reliable insurance solutions while fostering economic development in Namibia.

Job Overview

The Actuarial Analyst will join the Risk Management department to support product pricing, reserving, and profitability analysis for a range of insurance products, including life, health and general insurance. Working closely with senior actuaries, underwriters and data scientists, the analyst will apply statistical techniques, predictive modelling and financial theory to assess risk and inform strategic decisions. This position offers a unique platform to develop advanced actuarial skills within a dynamic environment that values innovation and professional growth. For more information about Old Mutual Namibia and its career pathways, visit Namibia Job Search.

Key Responsibilities

• Develop and maintain actuarial models for pricing, reserving and capital adequacy.
• Analyse historical claims data to identify trends, loss ratios and emerging risks.
• Prepare regular actuarial reports for senior management, regulators and external auditors.
• Collaborate with underwriting teams to design competitive and profitable insurance products.
• Support the implementation of new data analytics tools and automation processes.
• Participate in the development of risk‑based capital frameworks and stress testing scenarios.
• Ensure compliance with local regulatory requirements and international actuarial standards.

Required Skills

• Proficiency in actuarial software such as Prophet, MoSes or similar platforms.
• Strong analytical and quantitative skills with expertise in Excel, VBA and statistical packages (R, SAS, Python).
• Excellent communication skills to translate complex data into clear business insights.
• Attention to detail and ability to work under tight deadlines.
• Team‑oriented mindset with a proactive approach to problem solving.

Education

A bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics or a closely related discipline is required. Professional actuarial qualifications (e.g., IFoA, ASA) are highly desirable and will be supported by the company.

Experience

Applicants should have 2‑4 years of experience in an actuarial or quantitative analysis role within the insurance sector. Experience with life or health insurance products is advantageous, but candidates with strong general insurance exposure will also be considered.

Salary

The successful candidate will receive a competitive salary ranging from SSP 300,000 to SSP 450,000 per month, commensurate with experience and qualifications. Performance‑based bonuses and annual salary reviews are part of the remuneration package.

Benefits

• Comprehensive health and life insurance coverage.
• Retirement savings plan with employer contributions.
• Generous paid leave, including annual, sick and parental leave.
• Employee assistance programme and wellness initiatives.
• Flexible working arrangements and remote work options.

Training

• Support for professional actuarial examinations and certifications.
• Access to internal and external training workshops on data analytics, risk management and financial modelling.
• Mentorship programme with senior actuaries and industry experts.

Working Environment

Based in a modern office in Okahandja, the role offers a collaborative atmosphere with state‑of‑the‑art technology, open‑plan workspaces and dedicated quiet zones for focused analysis. The company promotes a healthy work‑life balance and encourages continuous learning.

Application Process

Interested candidates should submit an online application through the Old Mutual Namibia careers portal, attaching a current CV and a cover letter outlining relevant experience and motivation. Shortlisted applicants will be invited to complete an online assessment followed by virtual or on‑site interviews.

Equal Opportunity Statement

Old Mutual Namibia is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of gender, race, religion, age, disability or sexual orientation. All qualified applicants will receive consideration for employment without discrimination.