Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.
Job Description
Personal Finance is looking for a suitably qualified individual for an Intermediate Actuarial Specialist role within the Finance Business Partner area. The Personal Finance business provides a wide range of Risk, Savings, and Income products, and also has a large and valuable Legacy book.
This role will provide exposure to senior management and will require you to partner closely with a range of teams across the Personal Finance business, including Actuarial, Finance, Product Solutions, Risk Management, Retention and Channel Finance teams. This role enables an actuary to develop a solid understanding of the key components of a complex retail financial services business and how various entities and enabling functions combine to generate the annual operating result. The role is responsible for driving key Segment financial reporting, analyzing business trends and modelling future economic value.
Key Result Areas
- Part of team that delivers monthly/quarterly and ad hoc reporting requirements for OML Board and PF Exco.
- Reviewing the risk (protection), income, savings and legacy components of the Personal Finance business plans and translating the information into meaningful insights that enable appropriate focus from Exco and assist strategic decision-making.
- Analysing and driving an improved understanding of profitability and market competitiveness of the business through various value-add actuarial business partner analysis.
- Reviewing and update PF economic model and use to drive strategic focus of business planning process
- Provide input into key Finance projects (e.g. IFRS 17, new product developments)
- Provide clear insights into NCCF with the aim of supporting business retention activity.
- Partnering with Group Risk to drive a better understanding of the potential financial impact of the actuarial risks that we are exposed to.
- Providing business input into new product developments, experience investigations and repricing exercises carried out by Product Solutions.
- Providing business input in response to any changes required to the valuation basis, models and methodologies as recommended by the Actuarial team.
- Partnering with the IFRS17 project to provide actuarial and business insights and ensure business readiness
- Qualified or Nearly Qualified Actuary with 6+ years of experience
- Retail Product or Valuations experience would be an advantage.
- Self-starter who shows initiative and can drive projects to completion with minimal guidance.
- Ability to work on a wide range of deliverables at once.
- Strong communication skills, both written and verbal.
- The ability to work with detail yet maintain a big picture perspective
- Ability to gather a wide range of information, filter and then use in making sound and balanced decisions.
- Strong business acumen
Skills
Education
Bachelors Degree (B) (Required)
Closing Date
11 August 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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