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

Our roots are in insurance and 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. As a key component of our journey to build a world class team of actuaries, we have set up an internal actuarial consultancy.

We are looking for talented, curious individuals to join us on the journey to shape the future of Old Mutual through our internal consultancy, doing great things, everyday.

We have established an internal talent pool in our consultancy, providing the best of both the corporate and consulting worlds for our top talent. Roles within the internal consultancy provide you with the opportunity to have a real and meaningful impact on the business, in an environment that supports innovation, experimentation, mentorship and learning. Through the consultancy you can build in-depth understanding of the different parts of our business through cross-segment and business exposure, a focus on solving real business challenges as well as new world-of-work flexibility in work arrangements.

Role Overview

• Firm-wide exposure, cross-segment and business
• A focus on strategic projects and important business initiatives across Old Mutual, as well as supporting areas of high demand for actuaries. Helping to solve complex business challenges and to identify and unlock opportunities to drive extraction of value across the business / provide commercial insights
• Working in small dynamic teams with flat hierarchies where you see the impact of your work directly
• Genuine new world-of-work flexibility in work arrangements
• Outstanding learning and mentorship environment
• Part of a diverse team with different skills, background, experience and perspectives
• Opportunity to build a broad range of skills in addition to technical actuarial ability, including business and strategy awareness, stakeholder engagement, communications, collaboration, agile practices etc
• A springboard to a broader OML career

Experience required

• The roles will suit balanced individuals with sound technical knowledge, an aptitude for commercial and innovative thinking and the ability to engage with a variety of stakeholders.
• Top Senior Actuarial students making good progress with exams with substantial Actuarial experience are invited to apply.
• Previous experience of working in a consultancy or similar environment would be a strong advantage.
• Non-traditional experience in credit-risk/banking will also be considered.

Manages a line of business with a team of insurance actuaries. Conducts research and recommends policies to assist with the organization’s financial structure, completes financial projections, and performs actuarial analysis. Provides advice and problem solving input to others in particularly complex situations. OML roles mapped to this profile are: Senior Actuarial Supervisor, Senior Actuarial Supervisor (OMAO), Manager: Reserving and Manager: Tactical Pricing.

Responsibilities

Actuarial Analysis, Assumptions and Insights

Create and present high-quality actuarial analyses, assumptions, insights, and reports to support business decision-making and/or business performance evaluation. Perform complex statistical analysis to enable data analysis.

Actuarial Model Creation and Maintenance

Develop and maintain complex 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 products 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.

Actuarial Financial Reporting

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

Leadership and Direction

Communicate the actions needed to implement the function’s strategy and business plan within the team; explain the relationship to the broader organization’s mission, vision, and values; motivate people to commit to these and to do extraordinary things to achieve local business goals.

Performance Management

Manage and report on the performance of a substantial, diverse team; set appropriate performance objectives for direct reports or project/account team members and hold individuals accountable for achieving them; take appropriate corrective action where necessary to ensure the achievement of team/personal objectives.

Organizational Risk Management

Develop and/or deliver a contingency plan for significant aspects of the risk, financial management and/or control process.

Organizational Capability Building

Use the organization’s formal development framework to identify the team’s individual development needs. Plan and implement actions to build their capabilities. Provide training or coaching to others throughout the organization in own area of expertise to enable others to improve performance and fulfill personal potential.

Compliance

Monitor and review performance and behaviors within area of responsibility to identify and resolve non-compliance with the organization’s policies and relevant regulatory codes and codes of conduct.

Skills

Action Planning, Actuarial Consulting, Adaptive Thinking, Agile Project Management, Business, Consulting, Data Compilation, Data Controls, Executing Plans, Financial Acumen, Identifying Customer Needs, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Negotiation, Policies & Procedures, Risk Management, Workflow Management

Competencies

Balances Stakeholders

Builds Effective Teams

Builds Networks

Business Insight

Communicates Effectively

Develops Talent

Directs Work

Drives Results

Education

Bachelors Degree (B): Actuarial Science (Required)

Closing Date

20 February 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!

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