Capital Reporting Actuary at Old Mutual South Africa

Job Description

• The Group Actuarial team is part of the Old Mutual Group Finance division, reporting directly to the Group Chief Financial Officer. The team operates and provides exposure across all the businesses in Old Mutual including the various different jurisdictions.
• The team has an opportunity available for a nearly/newly qualified actuary, to gain unique experience in the inner workings of a complex financial services group. This role will report to the Capital Actuary and be responsible for delivering Old Mutual’s regulatory capital and other risk metric reporting with a small team of actuarial students.
• The role will build networks across the wider Group, which will assist with future career development as part of Old Mutual’s actuarial rotation programme. 

Key Results Areas:

Reporting – Historical reporting of capital for regulatory submissions (quarterly / half-yearly / annual QRTs) and for external publication (half-yearly OML results booklets and financial statements).

Ensuring appropriate advance instructions are sent to suppliers of information (e.g. segments for OMLACSA reporting or other entities in the OML Group, including short-term insurers and banks).

• Managing the delivery dates and reviewing data supplied.
• Reviewing the team’s consolidated results.
• Ensuring controls are appropriately performed, and evidence retained.
• Maintaining and improving the tools used in the various processes.
• Capital forecasting projections as part of the annual Business Plan process and regular capital allocation updates
• Scenario testing of capital levels under a range of scenarios (for the annual ORSA process as well as ad-hoc when required).
• Product support through calculating the impact of new products / product changes on overall OMLACSA / OML capital.
• Business support through providing executive team with analysis of impact of proposed balance sheet changes on overall OMLACSA / OML capital (e.g. change of ownership structure, business acquisition / disposal).
• Project support to the Group Finance project team where their deliveries need capital calculations (e.g. Prudential Authority applications).
• Please note that the appointments may be made at a lower role size depending on the successful candidates’ experience.

Qualifications and Experience required:

• Nearly or newly qualified actuary
• At least 4 years’ actuarial experience (most of which was in a finance reporting role)
• Strong technical skills in actuarial reserving and analysis of surplus
• Strong detail orientation coupled with the ability to see the “big picture”
• Excellent communication skills (both written and verbal)
• Motivated self-starter who shows initiative, is proactive, looks for ways to improve
• Able to complete tasks within agreed timelines and drive projects to completion with minimal guidance
• Ability to plan and prioritise
• Willing to learn and grow
• High level of accountability

The incumbent will have an added advantage if he/she has the set skills listed below

• Previous capital reporting experience
• Exposure to group consolidation and accounting reporting process  

Closing Date

• 30 April 2021