Actuarial Manager at Old Mutual South Africa

Job Description

An exciting opportunity exists within the Africa Actuarial team that offers exposure to an interesting combination of technical and business issues. It also provides the opportunity to obtain and provide insights into a range of products as well as exposure to various Life Assurance businesses at various stages of growth within the Old Mutual Africa Regions (OMAR) business unit.

The successful candidate will oversee a team of actuarial staff who produce a range of financial results for driving business insights and OML group consolidation. The individual will report to OMAR Finance Actuary while working closely with various teams to ensure timeous delivery of all agreed requirements. This requires that robust, efficient processes with appropriate controls are built to ensure accurate deliverables.

The role therefore requires a balanced individual with sound technical knowledge and an aptitude for strategic thinking. The individual will need to manage and coach team members and collaborate effectively with various teams and stakeholders at all levels. As reporting is required to meet the needs of various stakeholders, there will be a strong focus on stakeholder engagement.

The role will also entail participation in various projects, which will present opportunities to develop strategic and operational skills.

Key Result Areas

• Financial, Business & Risk Reporting: Effective and timeous delivery of valuation results covering IFRS profits, VNB, Embedded Value, solvency, and risk metrics for:
• In-country management and reporting
• OMAR central and Head of Life businesses
• OML Group Actuarial reporting
• OMAR Enterprise risk management
• Balance Sheet Management
• Office of the Chief Actuary
• Business Planning & Forecasting: Provide actuarial modelling and other input into the segment business plan, and other strategic initiatives.
• Process efficiency and automation: Ensure processes are efficient, robust and fit for purpose. Ensure the control environment is adequate and effective.
• IFRS17: Implement and embed IFRS17 in OMAR, working with Project Manager, Programme Subject Matter Experts and Delivery Leads in OMAR countries.
• Ad-hoc projects: Support the delivery of relevant project objectives, as and when these arise.
• Business support: Use actuarial knowledge and skills to provide strategic support to the business and individual OMAR countries on various projects.
• Leading a team – manage and mentor the team

Requirements: Skills, Qualifications and Experience required

A qualified Actuary with at least 8 years’ relevant valuation experience.

• Ability to think strategically and provide business insights
• Strong technical skills and attention to detail.
• IFRS17 implementation experience would be an advantage
• Ability to communicate effectively to diverse technical and non-technical audiences (written and verbal).
• Experience leading a team.
• Strong stakeholder engagement skills.
• Ability to collaborate effectively with others.

Competencies

• Empowering Individuals
• Meeting Timescales
• Interacting with People
• Directing People
• Establishing Rapport
• Articulating Information
• Providing Insights
• Adopting Practical Approaches

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.

Skills

• Business Performance
•  Communication
• People Management
• Strategic Support
• Strategic Thinking
• Technical Knowledge

Education

• Fellow Of Actuarial Society Of South Africa (FASSA), Fellow Of The Institute Of Actuaries

Closing Date

• 16 September 2022