Actuarial Analyst at Old Mutual South Africa

Job Purpose

• Carry out analysis required and ensure data used for actuarial work is appropriate and fit for purpose to provide support for the Corporate Actuarial function to provide actuarial service to Old Mutual Insure which contributes to business growth and strategy realisation.

Job Objective

Produce technical provisions at levels that are appropriate for the business and fit for purpose

Collect, segment and reconcile and aggregate gross and reinsurance data for all actuarial work. In collaboration with Corporate Actuarial Manager - Reserving:

• Produce results for Technical Provisions (IBNR, IBNER, OCR, UPP and cash-back reserves) on IFRS and SAM bases
• Produce actual versus expected analyses
• Prepare reserve reports
• Review technical guidelines in order to recommend financial and statistical assumptions
• Support methodology, assumption and dependency structures setting
• Support financial month-end processes and prepare manual journals as necessary
• Produce attritional, large loss, reinsurance and subrogation analyses
• Prepare and complete statutory reporting templates

Business Support

• Data preparation to provide business support as required
• Analysis and support on business initiatives as required
• Provide support on actuarial projects as required.
• Contribute to all reports as required.
• Participate in the relevant governance and other structures as required.
• Complete documentation required for actuarial processes.

Manage effective customer service and relations to deliver customer service satisfaction

• Maintain service, quality and desired outputs within a specific functional process through ensuring compliance to tactical policies, procedures and standards.
• Resolve escalated customer queries and complaints and provide feedback to customers on matters resolved.
• Develop work routines in line with operational plans / schedules in order to manage achievement of service delivery goals
• Share knowledge on, and participate in the creation of new standards, control systems and procedures to maintain service delivery.

Maintain effective people practices

• Align own behaviour with the organisation culture and values.
• Share and transfer product, process and systems knowledge to colleagues.
• Collaborate and work with the team members to ensure required service levels are delivered.
• Actively participate in the team to ensure functional balanced scorecard objectives are achieved.
• Ensure achievement of own performance objectives.
• Actively share information with other team members regarding successes, issues, trends and ideas.
• Actively participate in own professional development and career path.
• Develop and encourage strong teamwork
• Identify potential inter-departmental problems and escalate them to higher levels
• Engage regularly in team or group problem-solving

Ensure effective cost control and governance compliance

• Ensure adherence to financial and corporate policies and procedures, and reduce wastage related to area of accountability.
• Take accountability for the management of business-related risks within own area.
• Operate within agreed mandates as documented in the business rules.
• Ensure adherence to organisational policies, practices and procedures.
• Identify and recommend areas / ways to improve processes

Financial and corporate governance to ensure cost efficiency

• Proactively ensure use of time, of resources, money, materials or equipment is in line with policies and procedures.
• Comply with corporate governance policies, procedures and standards.
• Operate within agreed mandates.

Experience, knowledge & skills required

• Actuarial student with 2-3 years’ experience in general insurance or other analytical actuarial work
• Strong technical and problem-solving skills
• An ability to work independently but be comfortable interacting with stakeholders when required
• A strong sense of accountability
• Ability to work under pressure
• VBA, ResQ and/or SAS experience would be an advantage
• An interest in learning new things and exploring alternative ways of completing tasks

Responsibilities

Skills and Experience

• 2 Years of Acturial Experience

Education

• Bachelor of Science Honours (BSc Hons): Actuarial Science (Required)

Closing Date

• 30 November 2020