Senior Actuarial Specialist

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

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We are an African Insurance Giant
Be a part of our business that is growing its footprint across Africa as well as expanding our actuarial presence in Johannesburg. Old Mutual is an insurance giant in Africa, with life insurance entities currently established in Namibia, Swaziland, Zimbabwe, Ghana, Nigeria, Botswana, Malawi, Kenya and Uganda. Our expanding emerging market footprint represents a vast network of opportunity for innovative, creative and motivated individuals to benefit from while they gather unmatched professional experience on the way to becoming a leader in our business.
Why the Africa Actuarial Services Team?
In this Johannesburg based role, you will work as part of a team tasked with providing actuarial services to the life entities in the Rest of Africa, consolidating and explaining the life financial results for Old Mutual Africa in all aspects of reporting: monthly management reporting, forecasting, business planning, quarterly IFRS and MCEV reporting as well as capital reporting to regulators.
The team works closely with the Old Mutual Africa Executive team, OML central reporting team and in-country Finance Directors and actuarial teams in producing results that drive decision making to help accomplish the Old Mutual Limited (OML) growth strategy. In addition, the team has strong working relationships with the Statutory and Country Actuaries of the various countries.
We are a vibrant, diverse team, thriving on new ideas and high performance while making a meaningful impact on our customers in Africa. Our team will continue to grow in numbers, playing a key role in further building Old Mutual’s actuarial base in Johannesburg. Our team also continues to provide great opportunities for innovative, creative and motivated individuals to benefit and learn from while they gather unmatched professional experience and exposure to a variety of different countries and cultures on the way to becoming a leader in our business.

• Financial Reporting - Consolidation and submission of valuation results (IFRS, MCEV, Assumption changes, RFO and MCEV reports) during interim and year-end reporting periods. Managing engagements, feedback, queries from Group Actuarial.

• Monthly Reporting - Produce and analyse financial results (IFRS, VNB and APE) for OMAR on monthly basis. Analyse key drivers of financial results and deviations from forecasts. Assist with preparation of MI packs.

• Business Planning / Forecasting - Collating financial business plans produced in-country to build consolidated OMAR picture. Produce forecasts or estimates of future financial impacts as required.

• Continuous improvements - Enhancements of consolidation processes.

• Life line of business engagements - Produce monthly reports for OMAR Head of Life line of businesses, participate in Life Assurance Forums

• Projects - Support the delivery of project objectives.

Qualifications and Experience required

• Nearly qualified or qualified actuary with 4 years’ experience (exceptional candidates who don’t meet the criteria may be considered)

• Strong technical skills and experience in a valuations role will stand you in good stead

• Strong attention to detail with high levels of drive and energy

• Motivated self-starter, who shows initiative and able to interact effectively with people at all levels

• Proven ability to complete tasks within agreed timelines with minimal guidance.

• Excellent people skills and an ability to work in a team will give you the competitive edge.

• Highly innovative with a willingness to learn and grow

Competencies

• Strategy

• Innovation

• Leading with Influence

• Collaboration

• Customer First

• Execution

• Personal Mastery

Skills

Competencies

Balances StakeholdersBuilds NetworksBusiness InsightCollaboratesCommunicates EffectivelyCultivates InnovationDecision QualityDrives Results

Education

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

Closing Date

28 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!