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

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, 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.

This role is accountable for management and development of the OMAR Life Actuarial financial models and related systems. This role requires an actuary with data and modelling system experience. The incumbent will report into a member of the OMAR Life Actuarial central management team.

Key Result Areas:

Model Management

Maintain the model inventory

Manage the application of Old Mutual governance around OMAR Life Actuarial model developments

Review code changes made by

Design, develop and test new models and systems in OMAR Life Actuarial

Manage the work of contractors working on OMAR Life Actuarial models

Enable better liaison between the various teams who use the same models and processes to ensure consistency.

Staff Development

Train and coach OMAR Life Actuarial staff in model development

Train OMAR Life Actuarial staff in the Old Mutual model governance

General:

Ensure that all actuarial processes are performed as efficiently as possible, finding and delivering continuous process improvement and standardisation opportunities as well as ensuring processes are performed with appropriate controls.

Qualifications, Experience and Personal Attributes:

Education and Qualifications

Nearly qualified or qualified actuary with at least 8 years’ experience (exceptional candidates who don’t meet the criteria may be considered)

Experience

A minimum of five years working with data and modelling systems

Understanding and knowledge of Financial Services industry.

Strong track record of working simultaneously across multiple projects / clients

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

Personal Attributes

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

Customers First: Co-creates with customers, collaborates across functions and business units.

Results Orientated: Drives superior delivery & drives a culture of continuous improvement.

Resilience: Takes setbacks or failures in-stride Establishes an ownership mindset among leaders.

Adaptability: Understands and influences group dynamics and relationships across teams Intentionally develops new leadership styles.

Preference will be given to suitably qualified candidates in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question

Please note that the appointments may be made a a lower role size depending on the successful candidates' experience.

Skills

Education

Bachelor of Commerce (BCom): Actuarial Science (Required)

Closing Date

02 October 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!