Actuarial Manager at Old Mutual

Job Description

Role Overview

• Personal Finance is looking for a suitably qualified individual for an Actuarial Manager role within the Finance Business Partner area. The Personal Finance business provides a wide range of Risk, Savings, and Income products, and also has a large and valuable Legacy book.
• This role will provide exposure to senior management and will require you to partner closely with a range of teams across the Personal Finance business, including Actuarial, Finance, Product Solutions, Risk Management, Retention and Channel Finance teams. This role enables an actuary to develop a solid understanding of the key components of a complex retail financial services business and how various entities and enabling functions combine to generate the annual operating result. The role is responsible for driving key Segment financial reporting, analyzing business trends and modelling future economic value. Responsibilities also include participating in a Closed Book core team that develops and implements strategies to enhance value of the most profitable book of business in Personal Finance, monitoring key actuarial risks affecting Personal Finance and proactively managing the relationship with Product Solutions to align product delivery with business needs. 

Key Result Areas

• Reviewing the risk (protection), income, savings and legacy components of the RAF business plans, quarterly forecasts and monthly management information. Translating the information into meaningful insights that enable appropriate focus from Exco and assist strategic decision making. 
• Analysing and driving an improved understanding of profitability and market competitiveness of the business through various value-add actuarial business partner analysis. 
• Developing improved levels of financial reporting that highlight customer trends, and support the PF business in its customer objectives.
• Partnering with the Closed Book Product area to implement strategies that will protect and enhance profits from the Closed Book across the full value chain. 
• Monitoring actuarial and asset-liability management risk impacts on business profitability and interrogating strategies in place to mitigate the risks. Partnering with Balance Sheet Management to develop solutions to manage ALM risks and optimise investment return. 
• Partnering with the Personal Finance Risk Executive to drive a better understanding of the potential financial impact of the actuarial risks that we are exposed to. 
• Providing business input into new product developments, experience investigations and repricing exercises carried out by Product Solutions. 
• Providing business input in response to any changes required to the valuation basis, models and methodologies as recommended by the finance.hub actuarial team.

Personal attributes

• Self-starter who shows initiative and is able to drive projects to completion with minimal guidance. 
• Ability to work on a wide range of deliverables at once. 
• Strong communication skills, both written and verbal. 
• The ability to work with detail yet maintain a “big picture” perspective 
• Ability to gather a wide range of information, filter and then use in making sound and balanced decisions. 
• Strong business acumen 

Qualifications and experience

• Qualified Actuary with 8+ years actuarial experience 
• A good understanding of the Personal Finance business unit (through either Retail Product or Finance experience) would be an advantage.