Actuarial Analyst at Old Mutual South Africa

Job Description

A rare opportunity is available for a newly qualified or nearly qualified actuary to develop a broad range of actuarial expertise. The purpose of the role is mainly to support Credit Guarantee's General Manager of Actuarial in the design, development and implementation of the actuarial risk framework for business, but also to support actuarial processes within a small dynamic and highly processional actuarial team.
The role requires the incumbent to support the implementation of an actuarial risk framework in the business to enable data-driven and strategic decision making. This includes: 

• solvency assessment and management (SAM) reporting,
• capital management and own risk and solvency assessment (ORSA),
• reserving calculation,
• IFRS 17 implementation,
• the development of actuarial systems and reports, and
• reinsurance analysis.

To enable effective service, the incumbent must embrace continuous improvement by:

• staying abreast of statutory and legislative knowledge to resolve customer complaints, advising the business on corrective solutions to mitigate risks, and by improving the customer experience while complying with governance requirements.
• ensuring adherence to organisational policies, practices, and procedures, and
• by identifying solutions to enhance cost effectiveness and increase operational efficiency.

Service delivery to ensure customer satisfaction is another key area of this position. It entails the following:

• maintaining service, quality, and desired outputs within a specific functional process through ensuring compliance to tactical policies, procedures, and standards,
• establishing productive operational relationships with key stakeholders in the various channels and administrative teams,
• developing work routines in line with operational plans/schedules to manage achievement of service delivery goals, and
• sharing knowledge on, and participate in the creation of new standards, control systems, and procedures to maintain service delivery.

The role further includes cost control and governance adherence by:

• proactively ensuring that the use of time, resources, money, materials or equipment is in line with policies and procedures,
• complying with corporate governance policies, procedures, and standards, and
• by operating within agreed mandates.

Lastly, the incumbent will need to focus on the following quality people practices:

• aligning own behaviour with the organisation culture and values,
• sharing and transferring product, process, and systems knowledge to colleagues,
• ensuring the achievement of own performance objectives,
• actively sharing information with other team members about successes, issues, trends, and ideas,
• actively participating in own professional development and career path, and
• actively promoting a culture of learning and high-performance culture among team members.

Closing Date: 11th, March 2022