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

The Old Mutual Africa Regions Reinsurance Analytics Manager is responsible for the full end-to-end reinsurance accounting and analytics process. The successful candidate will participate in designing the OMAR Reinsurance strategy, together with the subsequent implementation, including data and systems requirements.  The candidate will report to OMAR Finance Actuary and will work closely with the OMAR Head of Underwriting and Reinsurance, and the Reinsurance Managers in-country. The candidate will also work closely with the CFOs in-country, and they will be involved in the optimisation work to help derive a recommended Reinsurance structure.

Reinsurance Accounting 
1.    Review the countries reinsurance technical accounts, including but not limited to, commission adjustments, profit commissions and premium adjustments.
2.    Review and monitor reinsurance outstanding loss reserves.
Data Analysis
1.     Analyse reinsurance data to identify trends, opportunities, and risks.
2.     Develop and maintain databases to track reinsurance placements, premiums, and losses.
3.    Perform data quality checks to ensure accuracy and reliability.

Reinsurance Optimization
1.     Analyse the profitability of each reinsurance program and identify areas for improvement.
2.     Evaluate cost of reinsurance and recommend the ideal cost and ways to reduce the cost therof.

Reporting and Visualization
1. Create reports and dashboards to communicate reinsurance results and insights.
2. Develop data visualizations to facilitate understanding of complex reinsurance concepts.
3. Provide ad-hoc analysis and support for business stakeholders.

Strategy Development
1.    Collaborate with stakeholders to develop reinsurance strategies.
2.    Evaluate emerging trends and innovations in reinsurance.
3.    Provide data-driven insights to inform reinsurance purchasing decisions.

Regulatory Compliance
1.     Ensure compliance with regulatory requirements (e.g. SAM and IFRS 17).
2.    Provide data and analysis to support regulatory reporting.
4.    Stay up to date with changing regulatory requirements.

Stakeholder Engagement

1.    Communicate complex reinsurance concepts to non-technical stakeholders.
2.    Provide training and support to business stakeholders.
3.     Collaborate with underwriting, claims, and other departments.

Key Skills

1. Technical expertise. 
2. Strong analytical and problem-solving skills.
3. Effective communication and stakeholder management.
4. Business acumen and industry knowledge.

Manages a line of business with a team of insurance actuaries. Conducts research and recommends policies to assist with the organization's financial structure, completes financial projections, and performs actuarial analysis. Provides advice and problem solving input to others in particularly complex situations. OML roles mapped to this profile are: Senior Manager: Treaty Reinsurance, Senior Manager : Catastrophe & Climate Change Modelling, Actuarial Manager
Actuarial Manager (OMAO), Head: Pricing & Underwriting - Commercial & Rest of Africa, Head: Pricing and Strategy, Head: Underwriting Personal Lines and Senior Manager: Pricing.

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 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.

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.

Leadership and Direction

Identify and communicate the actions needed to implement the function's strategy and business plan within the business area or department; explain the relationship to the broader organization's mission, vision, and values; motivate people to commit to these tenets and do extraordinary things to achieve local business goals.

Performance Management

Manage and report on performance within the department or area of responsibility; set appropriate performance objectives for direct reports and hold individuals accountable for achieving them; take appropriate corrective action where necessary to ensure the achievement of annual business objectives.

Organizational Risk Management

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

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.

Organizational Capability Building

Use the organization's formal development framework to identify the team's individual development needs. Plan and implement actions, including continuing professional development specified by professional or regulatory institutions, to build their professional capabilities. Provide informal training or coaching to others throughout the organization in own area of expertise to enable others to improve performance and fulfill personal potential.

Skills

Action Planning, Adaptive Thinking, Agile Project Management, Data Compilation, Data Controls, Executing Plans, Financial Acumen, Identifying Customer Needs, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Negotiation, Policies & Procedures, Risk Management, Workflow Management

Competencies

Balances StakeholdersBuilds Effective TeamsBuilds NetworksBusiness InsightCommunicates EffectivelyDecision QualityEnsures AccountabilityFinancial Acumen

Education

NQF Level 9 – Masters

Closing Date

21 March 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.

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