Old Mutual: Actuarial Bursaries 2024

Old Mutual invites South African student to apply for Bursary Programme 2023 / 2024 academic year.

Bursary Application Closing Date: 31 June 2023

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.

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

Requirements

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
• You must be ready to learn
• You must have good communication skills (written and spoken)
• You must have good organisational skills
• You must have good time-management skills
• You must have strong mathematical skills
• You must have strong decision-making skills
• You must have business interest and awareness
• You must be committed and self-motivated
• You must be result and goal orientated
• You must take initiative
• You must have strong analytical and problem-solving skills
• You must have strong leadership qualities
• You must have integrity
• You must be trustworthy
• You must have good interpersonal skills
• You must be a logical thinker
• You must have a creative mind
• You must have good judgement and decision-making skills
• 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

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

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.