Old Mutual was founded in 1845 in Cape Town, South Africa, as the countries first mutual life insurance provider. Today, the company offers banking; savings; investment; asset management; life assurance; property and personal insurance to its almost 19 million customers across Africa, North and South America, Europe and Asia.
The company has 4 business, including: Old Mutual Emerging Markets (OMEM); Old Mutual Asset Management (OMAM); Old Mutual Wealth (OMW) and Nedbank. Old Mutual is listed on the Johannesburg Stock Exchange (JSE), as well as the London Stock Exchange (LSE) among others and boasts a workforce of around 64,000 employees.
ABOUT THE OLD MUTUAL ACTUARIAL BURSARY PROGRAMME – FIELDS COVERED, COVERAGE VALUE & OTHER OPPORTUNITIES
Old Mutual is inviting students to apply for the Actuarial Bursary programme, for studies at the University of Cape Town, the University of Witwatersrand, the University of Pretoria or Stellenbosch University. Students who have a love for numbers, who wish to follow a career as an Actuary and will be studying towards an Actuarial Science qualification should apply.
The Old Mutual Actuarial Bursary will provide cover for the following expenses: tuition fees, meals, accommodation, textbook allowance, travel allowance, and a general allowance. Students will also receive the following benefits: networking opportunities, incentives for good performance, emotional and academic support, as well as the chance to undertake vacation work (from your 2nd year of study).
Once students have graduated, they will also receive the following opportunities: solo mentoring by a qualified and experienced actuary, guaranteed employment, in-house rotation programme allowing you access to professional development in various areas and working alongside industry experts in various fields.
ABOUT ACTUARIAL SCIENCE
An Actuary solves financial problems which allows individuals and companies to safeguard their financial future. An Actuary is involved with the following areas of work:
- Designing insurance and investment products for companies
- Calculate profit and loss for companies
- Projecting a companies future profits
- Monitoring a companies performances
- Providing pension funds with investment advice and forecasting potential return on investment
ELIGIBILITY REQUIREMENTS FOR THE OLD MUTUAL ACTUARIAL BURSARY
Applicants must satisfy the following minimum entry criteria before applying (please note that failure to satisfy all the requirements will lead to your application not being considered):
- You must be a South African citizen
- You must have completed Matric or be currently in Matric
- You must be studying or intend on studying towards an Actuarial Science qualification
- You must be studying or intend on studying at one of the following tertiary institutes: University of Cape Town/ University of Witwatersrand/ University of Pretoria/ Stellenbosch University
- You must have achieved a minimum “A” symbol for Mathematics (NOT Mathematical Literacy) in Matric
- You must have achieved a minimum “B” symbols for all other subjects in Matric
Students must also possess the following personal attributes:
- You must always be up for a challenge
- You must have strong mathematical skills
- You must be dedicated and self-motivated
HOW TO APPLY FOR THE OLD MUTUAL ACTUARIAL BURSARY
Applications must be done online at: Old Mutual Actuarial Bursary Application
Candidates will be required to Register an Account before they can Login and Apply
You may be required to submit clear copies of the following supporting documentation along with your application (the submission of these documents is compulsory – if any items are missing, your application be disregarded):
- ID document (certified copy)
- Grade 11 final results, if currently in Matric (certified copy)
- Matric certificate or final results, if completed Matric or currently at University (certified copy)
OLD MUTUAL ACTUARIAL BURSARY APPLICATION AND SELECTION PROCESS
Step 1: complete the online application form by filling in personal information and academic results.
Step 2: after completing step 1, students will be required to complete online gamified assessments and a psychometric assessment.
Step 3: after completing step 2, students will receive an email to complete the digital application form – this form will ask students to explain why they would like to apply for the Old Mutual Bursary and why they are interested in a career in Actuarial Science.
Step 4: after completing step 3, students will be invited to an online interview – the interview will assess students true interest in Actuarial Science and give the team a chance to get to know you better.
CLOSING DATE FOR THE OLD MUTUAL ACTUARIAL BURSARY
31 August.
(Applications submitted after this date will not be accepted – please apply before the closing date to ensure your application is considered.)
CONTACT THE BURSARY PROVIDER
For any queries related to this bursary programme, please contact Old Mutual directly:
Tel: 021 504 7285
Email: [email protected] (for technical issues when applying)