Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

This position falls into the Old Mutual Africa Regions Segment within Old Mutual and is primarily responsible for:

•    Proactively provides analysis of results and recommends appropriate action to senior management - ensures implementation where appropriate.
•    Identifies opportunities to improve profitability and makes recommendations to senior management - ensures implementation where appropriate.
•    Partners within Product / Development Actuaries to ensure that new and existing products are financially sound and profitable.
 

Examines and summarizes statistical data by applying mathematical and statistical knowledge to unpaid claim liability, trend analysis, rate formula, forecasting, and premium analysis. Participates in the preparation of annual statements, calculation of tax related issues, and drafting of business coverage forms. OML roles mapped to this profile are: Specialist Actuary, Specialist Actuary (OMAO), Actuarial: Corporate, Consultant: Actuarial, Consulting Actuary and Product Marketing Actuary.

ResponsibilitiesActuarial Analysis, Assumptions and Insights

Manage the creation and presentation of complex, high-quality actuarial analyses, assumptions, insights, and management reports, providing guidance to others in complex or ambiguous situations to support business decision-making and/or business performance evaluation. Perform complex statistical analysis to enable data analysis.

Actuarial Financial Reporting

Manage the production of statutory and non-statutory actuarial financial information, reports, and other disclosures relating to, for example, a product line, local legal entity, or market segment.

Actuarial Model Creation and Maintenance

Manage the development and maintenance of actuarial models for a significant product line, ensuring full integration with wider business models to enable actuarial analysis, financial reporting, and regulatory compliance.

Actuarial Product Development & Management

Develop proposals for significant or complex new products and for the improvement and management of existing products that create competitive advantage, that are viable in relation to the organization's risk appetite and financial objectives, and that meet regulatory requirements.

Organizational Risk Management

Manage a significant portion of the organization's risk, financial management and/or control process.

Actuarial Calculation of Funding Requirement

Evaluate funding contributions, like complex employee benefit schemes, and develop recommendations for future funding contribution levels.

Compliance

Monitor and review performance and behaviors within area of responsibility to identify and resolve non-compliance with the organization's policies and relevant regulatory codes and codes of conduct.

Improvement/Innovation

Identify shortcomings in existing business practices, then suggest and implement improvements while developing and delivering projects or a work stream within the organization's change management program.

Skills

Analytical Thinking, Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Market Analysis, Numerical Aptitude, Risk Management

Competencies

Business InsightCollaboratesCommunicates EffectivelyEnsures AccountabilityFinancial AcumenInstills TrustManages ComplexityOptimizes Work Processes

Education

Masters Degree (M): Actuarial Science

Closing Date

07 May 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

The Old Mutual Story!