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

Job Description

We are looking for a Qualified Actuary, to head up the Actuarial Control Function under SAM in a multi-channel / multi-product business to enable a sound risk environment. You will provide leadership and strategic direction to the Actuarial Job Family. You will also be a Member of the Old Mutual Insure Executive Committee. 

You will be accountable for the design, development and leadership of an actuarial assurance framework in a multi-channel / multi-product business to enable data-driven, strategic decision-making of complex business issues related to the financial sustainability of the organisation. This role extends to all Old Mutual Insure businesses as well as certain aspects of the general insurance businesses of Old Mutual Africa Regions.

Job Objective

Ensure the long-term financial viability of the organisation by using advanced modelling techniques to guide strategic business decisions to diversifying revenue streams, strengthening reinsurance efforts and new product developments.

Approves all new products and amendments to products.

Ensures that interests of customers are looked after.

Ensures that the company’s capital requirements are appropriately calculated.

Approves dividend calculations.

Ensures that actuarial content published in the group’s interim and year-end financial results and annual financial statements are appropriately calculated, presented and explained.

Persuade front-line management and risk owners to participate actively in the measurement, control and mitigation of risks. This involves educating the business on the benefits of actuarial risk management by partnering with the board, senior management and industry institutions to bring about an effective change.

Convey complex financial information to the Board, senior management and key stakeholders and promote a positive risk culture throughout the organisation to drive shareholder value.

Represent the organisation on both the local and international bodies to engage in complex industry situations.

Minimum Requirements

Qualified Actuary 

General Insurance Practicing Certificate

At least 10 years post-qualification experience in short-term insurance, including

Reserving (IFRS. SAM)

Capital modelling; reserving

Reinsurance

Pricing

Product development

Experience reporting into Boards and executive management

Ability to manage ambiguity and change

Proven leadership ability

Excellent written and verbal communication skills, including report-writing skills.

Ability to build constructive working relationships

Ability to drive implementation of new polices

Time management and balancing of multiple responsibilities, with efficient delivery to deadlines.

The Recruitment Process

TA Interview: This will be a discussion with a member of the TA 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 a little better, and ensure OMI can meet your needs

Panel Interview: This will be with members of the Leadership Team

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

Final Feedback

All About OMI:

https://www.oldmutual.co.za/about/old-mutual-insure/

https://www.linkedin.com/posts/old-mutual-insure_i-work-at-old-mutual-insure-of-course-activity-7161674472469524483-w0j6?utm_source=share&utm_medium=member_desktop

Please note that no applications will be considered after midnight on the 15th November 2024

Skills

Business, Executive Leadership, Executive Relationship Management, General Insurance, People Management, Strategic Business Units, Strategic Decisions

Education

BSc Mathematics Sciences: Actuarial Science (Required), Fellow Of Actuarial Society Of South Africa (FASSA): Actuarial Science (Required)

Closing Date

16 November 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 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!