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 Life Actuarial 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.

Key Result Areas ​

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

Team management - manage central model development resources and contractors for OMAR-wide projects

Requirements: Skills, Qualifications, Experience required

Nearly qualified or qualified actuary with 10 years’ experience (exceptional candidates who don’t meet the criteria may be considered)

Strong technical skills and experience in a valuation’s 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

Business Planning, Financial Consolidations, International Financial Reporting Standards (IFRS), Management Reporting, Monthly Reporting, Team Management

Education

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

Closing Date

05 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!