Senior Actuarial Analyst

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

Job Description

The Recruitment Process

• TA Interview: This will be a discussion with a member of the Talent Acquisition Team to give you an understanding of our business, our culture & values and more context on the role. It will also allow up the opportunity to get to know you more and ensure OMI can meet your career aspirations.

• Panel Interview: This will be with 2 members of the Senior Leadership of the Actuarial Team and 1 member of the HC Leadership Team.

• Technical & Psychometric Assessments: These will depend on the role and will sometimes happen concurrently with MIE & Internal Verification.

• Final Feedback.

Responsibilities

Actuarial Analysis, Assumptions and Insights

Analyze, interpret, and present data ensuring the completeness, accuracy, and appropriateness of all insurance data used in order to contribute to the production of actuarial analyses, assumptions and insights. Conduct research and request relevant information to enable analysis of key themes and trends using primary data sources and business intelligence tools.

Actuarial Calculation of Funding Requirement

Contribute to the evaluation of funding contributions, like employee benefit schemes, and to the development of recommendations for future funding contribution levels.

Actuarial Model Creation and Maintenance

Develop and maintain actuarial models, ensuring that the underlying structure of the actuarial assumptions are fully validated and that the models can be integrated into wider business models to enable actuarial analysis, financial reporting, and regulatory compliance.

Actuarial Product Development & Management

Develop proposals for new product features and benefits 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.

Organizational Risk Management

Ensure the organization is not exposed to undue risks by using risk, financial management and control systems to achieve specific goals within a designated area of the business.

Actuarial Financial Reporting

Produce complex actuarial financial information, ensuring the accurate completion of delegated elements of the process to contribute to the production of statutory and non-statutory reports and other disclosures.

Compliance

Maintain and renew a deep knowledge and understanding of the organization's policies and procedures and of relevant regulatory codes and codes of conduct, and ensure own work adheres to required standards. OR Identify, within the team, patterns of non-compliance with the organization's policies and procedures, and with relevant regulatory codes and codes of conduct, taking appropriate action to report and resolve these and escalating issues as appropriate.

Improvement/Innovation

Identify shortcomings in existing processes, systems, and procedures, and use established change management programs to address them.

Skills

Competencies

Balances Stakeholders, Builds Networks, Business Insight, Collaborates, Communicates Effectively, Cultivates Innovation, Decision Quality, Drives Results.

Education

Bachelor of Science Honours (BSc Hons): Actuarial Science (Required)

Closing Date

23 January 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.

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 Mutual’s 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!

Old Mutual is a premium African financial services organisation that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 14 countries. The lines of business include Life and Savings, Property and Casualty, Asset Management and Banking and Lending.
We are rooted in our purpose of Championing Mutually Positive Futures Every Day and believe that a great customer experience is anchored in a great employee experience.