Old Mutual Actuarial Bursary South Africa 2024

 

ABOUT THE BURSARY PROVIDER – OLD MUTUAL

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

Old Mutual is inviting students to apply for their Actuarial Bursary programme, for the 2024 academic year.

The bursary will be awarded for Actuarial Science studies, at any of these selected institutions: University of Cape Town, University of Stellenbosch, University of Pretoria, University of the Witwatersrand, University of Free State, North-West University.

Old Mutual is looking for dedicated and self-driven students who love a good challenge or are a “maths whiz”, to join their bursary programme.
 

** RELATED BURSARIES **

 

MORE ABOUT THE OLD MUTUAL ACTUARIAL BURSARY PROGRAMME – EXPENSES COVERED & OTHER OPPORTUNITIES

www.zabursaries.co.za is committed to keeping you up to date with the latest bursary opportunities, and this article covers all details about the Old Mutual Actuarial Bursary.

The Old Mutual bursary will provide cover for the following expenses: tuition fees, book allowance, general allowance, accommodation, meals, travel allowance (where applicable), academic support, emotional support and networking opportunities.

Students will also have the chance to partake in vacation work, during the holidays, from the second year of study. There are also further benefits for students who perform well in their studies.

After graduation, bursary recipients will receive the following benefits: guaranteed employment, mentoring by a qualified and experienced actuary, in-house rotation programme to gain exposure to professional development across all areas.
 

WHAT AN ACTUARIAL SCIENCE CAREER INVOLVES

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
  • Setting up investment strategies and 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 be under 21 years old
  • You must have completed Matric or be currently in Matric
  • You must NOT have completed any post-Matric qualifications
  • You must be studying or intend on studying towards an undergraduate Actuarial Science qualification
  • You must be studying or have applied to study at one of the following tertiary institutes: University of Cape Town, University of Stellenbosch, University of Pretoria, University of the Witwatersrand, University of Free State, North-West University
  • You must have achieved a minimum result of 80% for Mathematics (not Mathematics Literacy) in Matric
  • You must have achieved a minimum result of 60% for English HL or 70% for English FAL in Matric
  • You must have achieved a minimum result of 70% for all other subjects in Matric
  • You must be committed to qualifying as an actuary and working for Old Mutual after graduation
  • Preference will be given to students from under-represented designated groups, including those with disabilities
  • Preference will be given to students from a previously disadvantaged background or those who demonstrate financial need

 

HOW TO APPLY FOR THE OLD MUTUAL ACTUARIAL BURSARY

The Old Mutual Actuarial Science Bursary application is made up of the following steps:
Step 1: complete the Old Mutual Bursary Motivation Form (.pdf)

Step 2: complete the Old Mutual Actuarial Science Bursary Online Application 2024 (Reference: JR-38156), which includes a gamified assessment.

Step 3: submit clear copies of the following supporting documentation along with your online application (the submission of these documents is compulsory – if any items are missing, your application may be disqualified):

  • ID document (certified copy)
  • 1 page Curriculum Vitae (find an example of a student CV here)
  • Photograph (head and shoulders)
  • Grade 10, Grade 11 and Matric school reports
  • Matric certificate, if completed Matric
  • Proof of acceptance or conditional acceptance at University, if applicable
  • NBT statement, if applicable
  • Full academic transcript, if currently studying

Enter “www.zabursaries.co.za” in the field asking how you heard about the Old Mutual bursary.

Note: applicants under 18 years old will need their parents or guardians consent to apply for this bursary.
 

OLD MUTUAL BURSARY SELECTION

Shortlisted applicants will receive a link to complete psychometric assessments.

Finalists will be invited to attend a selection day where interviews will be held.

Students who pass the interview stage will receive a provisional offer, which will be confirmed after Old Mutual receives their final matric results and proof of acceptance at University for an Actuarial Science programme.
 

CLOSING DATE FOR THE OLD MUTUAL ACTUARIAL BURSARY

31 July 2023 (at 23:59).
(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:
Early Careers team
Email: earlycareers@oldmutual.com
 

Please do NOT contact Old Mutual if this bursary has already closed. View our other bursaries open for application here: https://www.zabursaries.co.za/bursary-news/

This bursary listing was last updated in April 2023.

SA Bursaries wishes you the best of luck with your application! Please remember to SHARE this page with anyone you know who may be in need of bursary funding.