Actuarial Manager at Old Mutual South Africa

Purpose of the job

• The iWyze Life business has an exciting opportunity for an Actuarial Manager to oversee the actuarial function end to end including financial reporting, modeling, product development and related business support on the iWyze Life products.
• A key focus will be to manage outputs from a team of professionals within Old Mutual who are  responsible for valuation, reporting, product solutions sign off and all relevant line 1 sign off.  A key focus of this role will also be to the extraction of business insights to inform management decision making and overall business strategy for iWyze Life.
• The role requires sound technical knowledge and a large element of management and coaching. Stakeholder engagements will focus on the key financial drivers across the product ranges, financial metrics and insights extracted for business consideration. The role will participate in various projects, including IFRS 17 implementation, which will present opportunities to develop further insights and influence reporting within and across the Business and Finance/Actuarial Community.  

 Key Objectives 

• Financial & Risk Reporting:  Effectively manage the team to ensure that valuation, capital and other risk reporting are produced with appropriate supporting analysis and commentary.
• IFRS 17 implementation: Manage the segment’s involvement in the IFRS 17 project and the transition of reporting into BAU.
• Business Partnering: Extract insights for business consideration and collaborate effectively with both business and specialized areas across all levels.
• Product development, product reviews and pricing
• Business Planning / Forecasting: Produce information for forecasting and ongoing monitoring of the financial impacts of the business strategy. 
•  Reporting Capability: Ensure processes and models are efficient, robust and fit for purpose. Drive synergies and standardization and ensure the control environment is adequate and effective.
•  Projects: Support the delivery of relevant projects objectives as and when these arise

Minimum Requirements

• Qualified Actuary, with a minimum of 8 years actuarial experience or equivalent
• Management track record is an advantage
• Financial reporting and/or valuation experience
• Product development experience will be an advantage

The following would also be advantageous:

• Experience in process improvement and optimisation
• Local life insurance knowledge
• Knowledge of the Old Mutual environment and systems  

Key behavioral skills and attributes required to fulfill this role:

• Self-motivated and energetic individuals who enjoy the challenge of tackling complex issues
• Excellent interpersonal and communication skills, including the ability to influence stakeholders outside his/her immediate area
• Organisation and Planning
• Ability to work on a wide range of deliverables at once, drive projects to completion
• Strong sense of ownership, requiring minimal guidance
• Ability to gather a wide range of information, filter and then use in making sound and balanced decisions
• Strong business acumen