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Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.
Job Description
Supports the Life actuarial function in delivering accurate valuations, IFRS 17 and solvency reporting, actuarial analysis and financial modelling, while providing technical insight to support management decisions, regulatory requirements and effective management of the Life business.
1 KEY TASKS AND RESPONSIBILITIES
- Technical Actuarial Support: Assist with conducting and reviewing internal actuarial liability valuations for relevant insurance subsidiaries, IFRS 17 valuations, analysis of profitability/surplus, and calculation and analysis of embedded value using Prophet and MS Excel for OM Life entities
- Experience Investigations: Assist with profitability analysis, experience analysis and other relevant actuarial investigations to inform business decisions
- Solvency and Capital Management: Assist with solvency computations for the entity on a risk-based capital basis, including solvency stress tests
- Financial Modelling: Assist with financial modelling of business scenarios/projects to inform business decision-making
- System Support: Assist with management of the Life Systems – Prophet, Thought Express, OIPA, etc
- Business Planning Support: Assist with business planning financial projections and solvency projections for the life entities. Perform stress and scenario analysis on the plan numbers
- Reinsurance Support: Support with carrying out reinsurance analyses and reinsurance optimisation
- Reporting and Documentation: Present results and reports to businesses and subsidiary board committees. Prepare Board papers and regulatory solvency and valuation reports
- Risk Management Support: Assist the Business Units and Risk Department in identifying and quantifying risk, including insurance, market and credit risks, where appropriate
- Investment Strategy Support: Develop/formulate appropriate investment strategies and/or review and monitor investment strategies including Unit Pricing support and BSA management
- Other Reasonable Duties: Perform other reasonable duties that may be assigned by supervisors/management
2. SKILLS AND COMPETENCIES
- Analytical skills
- Data handling knowledge
- Business awareness
- Problem-solving skills
- Communication and presentation skills
- Ability to prioritise and work on a wide range of deliverables at once
- Ability to work under minimal supervision
- Good interpersonal skills
- Proficiency in Microsoft Office packages
3. KNOWLEDGE & EXPERIENCE
- Strong actuarial technical skills
- Knowledge of Prophet software or other reserving software
- Strong analytical skills
- Strong data programming skills
- Foundational knowledge of the current insurance regulations, capital markets and other relevant guidelines
4. QUALIFICATIONS
- Bachelor of Actuarial Science
- Minimum 2-5 years of relevant technical experience
- Actuarial knowledge, demonstrated through progress with actuarial examinations
5. ANTI-MONEY LAUNDERING (AML) EXPECTATION
The incumbent will be responsible for ensuring adherence to, implementation of and adoption of Compliance, Anti-Money Laundering (AML) and Sanctions-related policies, procedures and process requirements within Old Mutual and its subsidiaries. This includes execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality. Additionally, the role involves identifying and monitoring potential AML, Sanctions or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action.
Skills
Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Numerical Aptitude, Risk Management
Competencies
Action Oriented
Balances Stakeholders
Builds Networks
Collaborates
Communicates Effectively
Cultivates Innovation
Ensures Accountability
Financial Acumen
Education
NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent
Closing Date
22 October 2026 , 23:59
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