Specialist Actuary: Shareholder & Insurance Risk Portfolio

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

Old Mutual is a financial conglomerate with South Africas largest actuarial team. Actuaries continue to be a critical talent pool for us. In fact, we are one of the largest communities of actuaries in South Africa, and we continue to grow this capability across the African continent.

This team is part of the Old Mutual Group Finance division, reporting directly to the Group Chief Financial Officer. The team operates and provides exposure across all the businesses in Old Mutual including the various jurisdictions.

You will support the Finance Actuary of Old Mutuals Shareholder segment, whose responsibilities include, but are not limited to:

• Monitoring and reporting of insurance risk (life and non-life) to the Old Mutual Limited Board,
• Driving commercial management of insurance risk (life and non-life) across the group,
• Delivering on financial reporting for shareholder portfolio,
• Providing actuarial input into shareholder forecasts, business plans, and management reporting.

The role is not static and will evolve as we continue to build and grow the function, drive commercial insights, critical financial reporting, and the effective management of non-life insurance risk across a financial conglomerate.

• Build and embed a non-life insurance governance capability.
• Effective reporting of non-life insurance risk to the Board.
• Driving the delivery of non-life insurance risk management initiatives.
• Credible financial reporting and management reporting.
• Delivering through effective stakeholder engagement.
• Supporting the broader Group Finance function in respect of non-life considerations e.g., capital considerations, impacts on financial reporting, and appropriate valuation principles and methodologies.

Requirements

• A qualified Actuary with extensive experience in non-life insurance.
• A broad understanding of the value chain and in-depth understanding of financial reporting analysis and insights.
• The enthusiasm to drive insights from results that influence the Groups strategic direction and insurance risk management.
• Ability to derive appropriate strategies and a strong sense of ownership to drive strategies to completion.
• Ability to see and execute on process improvements.
• Effective stakeholder engagement and collaboration.
• Enthusiasm to expand the capability through cross-collaboration and supporting various teams.
• Responsible project, time, and self-management.
• Effective communication skills (both written and verbal) to stakeholders from different business units with differing levels of actuarial exposure.

Please note that the appointments may be made at a lower role size depending on the successful candidates experience.

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.

Skills

Casualty Insurance, Communication, Financial Reporting and Analysis, Insurance Risk Management, Management Reporting, Personal Initiative, Report Analysis

Education

Fellow Of Actuarial Society Of South Africa (FASSA) (Required), Fellow Of The Institute Of Actuaries (Required)

Closing Date

02 October 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.

The Old Mutual Story!