Understanding the Old Mutual Actuarial Science Bursary Programme
The Old Mutual Actuarial Science Bursary Programme offers a significant opportunity for bright young South Africans looking to enter the actuarial field. This bursary is designed to support students throughout their university careers and guide them toward a fulfilling career with Old Mutual. It provides more than just financial aid; it includes personal development chances, practical work experience, and a clear path to employment after graduation.
This bursary is specifically for individuals committed to becoming actuaries and who wish to work for Old Mutual upon completing their studies. The program aims to cultivate talent and ensure a pipeline of skilled professionals for the company.
Eligibility Requirements
To be considered for the Old Mutual Actuarial Science Bursary Programme, applicants must meet several key criteria. These requirements ensure that candidates are well-suited for the demanding field of actuarial science and are aligned with Old Mutual’s goals.
General Eligibility
- Citizenship: Applicants must be South African citizens.
- Academic Performance: A minimum of 80% in Mathematics is required. For English, a minimum of 60% for Home Language or 70% for First Additional Language is necessary. All other subjects must have a minimum of 70%.
- University Enrollment: Applicants must have applied to or be currently studying at one of the following universities:
- North-West University
- Stellenbosch University
- University of Cape Town
- University of Pretoria
- University of the Free-State
- University of the Witwatersrand
- University of Johannesburg
- Commitment: A strong commitment to qualifying as an actuary and working for Old Mutual after graduation is essential.
Bursary Benefits
The Old Mutual Actuarial Science Bursary Programme offers comprehensive support to its recipients. This financial assistance is intended to remove barriers to education and allow students to focus on their studies and professional development.
- Financial Coverage: The bursary covers essential educational expenses, including tuition fees, study materials, meals, and accommodation in university residences.
- Travel Support: Recipients studying outside their hometown will receive financial assistance for return flights home.
- Duration of Support: Financial support is provided for the entire duration of the degree program.
- Incentives: Students who achieve excellent academic results may receive additional incentives, recognizing their hard work and dedication.
The Application Process
Applying for the Old Mutual Actuarial Science Bursary Programme involves several steps designed to assess candidates thoroughly. It is important to follow the instructions carefully to ensure a complete and successful application.
Application Steps
- Online Application: Applications must be submitted online through the Old Mutual careers portal.
- Motivation Form: Download, complete, and submit the bursary motivation form. This form allows applicants to express their interest and suitability for the bursary.
- Gamified Assessment: The online application includes a gamified assessment that does not have a time limit.
- CV Submission: A one-page CV must be attached to the application. This should highlight relevant academic achievements and any extracurricular activities.
- Psychometric Assessments: Shortlisted candidates will receive a link to complete psychometric assessments. These tests help evaluate cognitive abilities and personality traits.
- Virtual Interview: The top 30 finalists will be invited to participate in a virtual interview. This is an opportunity for candidates to further demonstrate their potential.
- Provisional Offer: Selected candidates will receive a provisional offer. This offer will be confirmed once final matric results and proof of acceptance at a university for an Actuarial Science or Accounting Science program are received.
Required Documentation
Applicants need to prepare and submit specific documents as part of their application. Ensuring all required documents are accurate and complete is crucial for a successful submission.
- One-Page CV: A concise CV highlighting academic achievements and relevant experience.
- Bursary Motivation Form: The completed form downloaded from the Old Mutual website.
- School Reports: Grade 10 to 12, Term 1 results.
- Matric Certificate: If applicable.
- University Acceptance Letter: A letter of acceptance or conditional acceptance from a qualifying university.
- Academic Transcript: A full academic transcript for current university students.
- ID Copy: A copy of the applicant’s South African identity document.
Important Notes for Applicants
- Parental/Guardian Consent: If an applicant is under 18, parental or guardian consent is required.
- Preference: Preference will be given to candidates from under-represented designated groups, including those with disabilities. Candidates from previously disadvantaged backgrounds or those demonstrating financial need may also receive preference.
- Incomplete Applications: Applications that are incomplete will not be considered. It is vital to submit all required information and documents by the deadline.
Frequently Asked Questions
Who is eligible for the Old Mutual Actuarial Science Bursary?
South African citizens with strong academic results (especially in Maths), who are applying to or studying at specific universities, and are committed to becoming actuaries and working for Old Mutual are eligible.
What academic requirements are needed for the bursary?
You need at least 80% in Mathematics, 60% for English Home Language or 70% for First Additional Language, and 70% in all other subjects.
What does the bursary cover?
The bursary covers tuition fees, study materials, meals, accommodation, and travel support for students studying away from home.
How do I apply for the bursary?
Applications are submitted online via the Old Mutual careers portal, requiring a motivation form, CV, and participation in assessments and interviews.
