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Senior Actuarial Specialist

Posting Country:  South Africa
Date Posted: 
Full Time / Part Time:  Full Time
Contract Type:  Permanent

Joining Vodacom is more than a job, what we do matters. We don’t just carry minutes, texts and data – we carry people’s lives. And that’s a huge responsibility. If you think for a minute about the people you rely on…the likelihood is they rely on us.

Customers are at the heart of everything we do and we want to make a difference to the lives of our customers, and the communities in which we live and work. We support our people to give something back to the causes that mean the most to them through helping them give time and money to the charities they love.

And what’s it like to work here? We have created an environment where you can look forward to coming to work and are empowered to be at your best. We offer flexibility in how you work that helps you do your job in a way that suits you, opportunities to help you grow and progress throughout your career and a choice of benefits to suit your lifestyle.

Role Purpose


To provide actuarial support to the Chief Actuary on all matters relating to financial reporting, valuation, product pricing and capital management.

Your responsibilities will include:


Financial Reporting 

Monthly and annual liability valuations are required across the life and non-life portfolios, including typical IBNR and DCF techniques for the valuation of actuarial liabilities.  The candidate will also be responsible for the development and maintenance of all Prophet valuation models; Value of New Business calculation and reporting; and for producing cash flow projections for budgeting purposes.

Product Development

The candidate will assist with pricing and product development of life and non-life products in a competitive, profitable and sustainable manner, working closely with Vodacom’s chosen partners. Regular competitor analysis is required to ensure products remain competitive. The candidate will also assist with product management, including ensuring that policy documents, marketing material, training guides and sales scripts are true to the original product design and specifications.

Capital Management 

Regular capital calculations are required across both licences to understand solvency measures at any point in time. The candidate will assist with the compilation of various statutory returns. 

Solvency Assessment Management

The chosen candidate will take ownership of the actuarial models used to calculate the Market Value Balance Sheet and solvency capital requirements under the new SAM regime. 

Experience Investigations

Detailed data analysis will be performed to provide business intelligence in order to enhance decision making as well as to serve as input into valuation assumption setting. 

Regulatory reporting is a key requirement in order to avoid fines and/or a license suspension.  This role is crucial in meeting our reporting obligations in addition to pricing and developing profitable products to drive revenue and earnings growth.

The ideal candidate will have:


Matric / Grade 12 essential 

Bachelor’s Degree in Actuarial Science.
Actuarial Student having made good progress in studying towards qualifying as an actuary (minimum of 9 actuarial exams required)
At least 5 years of relevant work experience essential
Valuation experience preferred
Prophet and DCS experience would be an advantage
Strong skills in Excel
Sound numerical, analytical and problem solving skills
Effective interpersonal and communication skills
Highly energetic, innovative and pro-active individual, with the ability to work independently and as a member of a team
Actuarial modelling and model building
Data analysis and synthesis
Using and coding of specialist actuarial software
Financial Reporting


The base location for this role is, Midrand, Vodacom Campus

The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.
Vodacom is committed to an organisational culture that recognises, appreciates and values diversity & inclusion. 

Commitment from Vodacom

Vodacom is committed to attracting, developing and retaining the very best people by offering a flexible, motivating and inclusive workplace in which talent is truly recognized, developed and rewarded. We believe that diversity plays an important role in the success of our business and we are committed to creating an inclusive work environment which respects, values, celebrates and makes the most of people’s individual differences - we are not only multinational but multicultural too. At Vodacom you will have access to our excellent flexible benefits programme that you would expect from any global company.