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Job Description

The Legacy & Product Management team is looking for a suitably qualified individual for an Intermediate Actuarial Specialist role within the Product Solutions area. The Legacy & Product Management team is responsible for product management and performance for both savings and income products in the Old Mutual Retail market.

We are looking for someone driven and excited to take on new challenges to help us grow, maintain and improve our existing Retail Investment Proposition. In joining the team, you will provide support to various functions measuring and/or enhancing product performance as well as supporting projects. You will have exposure to either/both MFC and PF Retail Savings products and will get an in-depth view of how these fit into the investment landscape within South Africa, as well as the customer and business value propositions championed by Old Mutual.  

Role Qualifications, Skills & Experience required

Actuarial student with at least 9 actuarial examination credits

Minimum 2 years work experience

Experience in a product management/performance/similar role will be beneficial.

Knowledge of Old Mutual’s Retail Savings and Income products for the Personal Finance and/or MFC segments, IT platforms and processes would be advantageous.

Experience and knowledge of actuarial models used to support the above-mentioned products.

Strong technical skills and attention to detail.

Good interpersonal skills and ability to work in a team and across teams.

Good communication skills (both written and verbal).

Ability to plan and prioritise.

Motivated self-starter who shows initiative, is proactive and looks for ways to improve existing processes.

High levels of drive, energy and innovation.

Willing to learn and grow.

Microsoft Office (Word, Excel, Powerpoint, Access).

Programming knowledge advantageous.

Please note: the appointments may be made at a lower role size depending on the successful candidates’ experience and exam progress

Performs assignments of a variety actuarial-related tasks, e.g., compilation and analysis of losses and reserves. Develops and enhances procedures including review for actuarial soundness. Analyzes completed work for reasonableness and accuracy, and may recommend specific courses of action. OML roles mapped to this profile are: Intermediate Actuarial Specialist, Intermediate Actuarial Specialist (OMAO), Intermediate Actuarial Specialist New Entrant and Specialist: Actuarial Underwriting.

ResponsibilitiesActuarial Analysis, Assumptions and Insights

Analyze and present data using pre-set tools, methods, and formats, testing completed work for reasonableness and accuracy to contribute to the production of actuarial analyses, assumption setting and insights. Produce accurate reports for others by requesting data from a variety of standard sources and inputting that data into standard formats.

Actuarial Financial Reporting

Carry out complex actuarial analyses to contribute to the production of statutory and non-statutory financial reports and other disclosures.

Actuarial Model Creation and Maintenance

Contribute to the development and maintenance of actuarial models through analysis to identify and validate the structure of underlying actuarial assumptions.

Actuarial Product Development & Management

Carry out complex analyses of own organization and competitor products to support the identification of opportunities for creating competitive advantage in existing or new products and ensuring their continuous management.

Organizational Risk Management

Keep track of risk, financial management and control parameters, identifying any more deviations and reporting them to more senior colleagues. Involves working within established risk management systems.

Actuarial Calculation of Funding Requirement

Carry out complex analyses of funding contributions, like employee benefit programs, to support the evaluation of scheme funding requirements.

Compliance

Identify, within the team, instances of non-compliance with the organization's policies and procedures and/or relevant regulatory codes and codes of conduct, reporting these and escalating issues as appropriate.

Improvement/Innovation

Implement improvements and provide feedback on them. Use change management systems and protocols to provide routine support services.

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

Business Insight

Collaborates

Communicates Effectively

Cultivates Innovation

Decision Quality

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

26 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.

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