As president-elect of the Actuarial Society of South Africa (ASSA), Stellenbosch University (SU) alumnus Lusani Mulaudzi will lead the South African actuarial profession in 2020/2021.
Although it was a BA degree that attracted Lusani – born and raised in Limpopo – to SU, he graduated with a BCom (Hons) degree and postgraduate diploma in Actuarial Science and qualified as an actuary in 2012.
“I came to Stellenbosch because I was attracted by a BA (Value and Policy Studies) course which was only offered there. Actuarial Science was my second option. A counselling psychologist convinced me that it would be better to study Actuarial Science given my parents’ views and other factors such as funding opportunities. My knowledge of Actuarial Science was very limited at that time.
“Although I always had the support of classmates and lecturers who were willing to go the extra mile, SU allowed me the freedom to think and work independently. Actuarial Science is technically very rigorous, and I battled in my third and honours years. Thanks to the discipline and professionalism among lecturers, very little time in all my academic years at the university was wasted.”
After qualifying as an actuary, Lusani worked as an actuarial consultant at Sanlam for four years. He then moved to Medscheme to work as a health actuary for six years. Before starting his own consulting company in 2017, he worked as a CEO of a small health administrator and managed-care organisation.
“The main challenges of my current role are making a meaningful impact in what I do and maintaining a good balance between profit-making and non-profit-making activities.”
As president-elect of ASSA, Lusani believes the greatest challenge facing the profession is its ability to remain relevant and serve the public interest.
“In the past, the profession tended to be more of a private sector discipline. Given the scope and nature of the decisions made in the public sector, it makes sense that the actuarial profession become more involved in assisting politicians and public officials to better understand the future impact of their decisions as well as the need to make the best possible decisions.
“The actuarial profession also needs to continue to transform its demographics while maintaining high standards of actuarial education. The emphasis on professionalism and professional development will continue to ensure that a degree in Actuarial Science remains one of the most valued qualifications.”
As the child of two teachers and the father of three boys, Lusani is passionate about education and development. When he is not working, he is involved in community work. He also serves as the pastor of a small congregation in Delft.
- By Pia Nänny -