Actuarial Expert

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

Job Description

An exciting opportunity exists within the Old Mutual Wealth Actuarial Team offering exposure to an interesting combination of technical and business issues. The role requires a technically sound individual, who is responsible for performing actuarial valuation reporting, and collaborate effectively with various teams and stakeholders at all levels.

The incumbent candidate will assist in the valuation of life wrapped products for the Wealth Segment for consolidated financial reporting purposes, including IFRS, EV, SAM, Regulatory and Internal risk metrics. There will be a strong focus on ensuring processes are robust, efficient and fit for purpose, with appropriate control. Part of the role will focus on the continuous improvements of existing models and processes to embed IFRS17 reporting into the Wealth business. The role will also require participation in various projects, which will present opportunities to develop further insights and influence reporting within and across the various OML teams.

Key responsibilities will include amongst others the following:

Valuation And Financial Reporting (including Capital Requirements)

• Responsible for accuracy and quality of the consolidated financial reporting results for submission to the OML Group Actuarial Reporting team and Wealth Finance team, as appropriate.
• Accountable for compliance with agreed policy and methodology as well as professional guidance and legislation.
• Proactively provides analysis of results and recommends appropriate action back to the business and other stakeholders.
• Responsible for accuracy and completeness of the actuarial portions of regulatory reporting for submission to the OML Group Actuarial Reporting team.
• Responsible for the development and maintenance of actuarial models.

Process efficiency and automation

• Ensure processes are efficient, robust and fit for purpose.
• Ensure the control environment is adequate and effective.

Provide mentorship to junior actuarial students

Ad-hoc projects

• Support the delivery of relevant projects, as and when these arise. These include (but not limited to) business planning and forecasting.

Requirements And Experience

• Qualified or nearly qualified actuary (with a minimum of 11 exam credits)
• At least 4 years actuarial experience
• Experience in life investment products or life valuations will be advantageous
• Strong analytic skills and attention to detail
• IFRS 17 knowledge and Prophet skills will be a distinct advantage.

The appointment will be made from the designated group in line with the Employment Equity Plan of OMSA and the specific business unit.

Skills

Business, Financial Analysis and Reporting, IFRS 17, International Financial Reporting Standards (IFRS), Valuating

Education

Bachelors Degree (B): Actuarial Science (Required)

Closing Date

20 May 2024

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.

Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.

All prospective employees are required to disclose their vaccination status as part of the recruitment process.

Please refer to the Old Mutuals Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.

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