Job Opportunities at Old Mutual South Africa

Job Description

• Old Mutual Alternative Risk Transfer Limited (OMART) is looking for a suitably qualified individual for a role as an Actuarial Specialist. This position within OMART, offers you the opportunity to form part of the actuarial team of a diverse, growing business that enables innovation in Insurance through Old Mutual and InsureTech companies.
• OMART is a dynamic life insurance company, and regularly interacts with various specialist areas within Old Mutual, both within and outside this business unit.
• Being a separately managed company with various internal and external clients, the successful candidate will perform the technical actuarial work required for client management, financial and regulatory submissions and ad-hoc purposes. You will be required to generate insights into the results produced in order to identify and understand the key risks faced by clients and the business, as well as assist with client and stakeholder management.  
• This role presents the opportunity to interact with a variety of internal and external stakeholders, get a full overview of running a life insurance company while driving innovation and transformation of the South African life insurance market.
• The successful incumbent could be based in Cape Town or Johannesburg.

Key Result Areas:

• Checking and manipulating volumes of data for use in experience investigations, actuarial valuations as well as regulatory submissions.
• Carrying out technical actuarial work, using pre-defined processes and complex systems with minimum guidance. This includes the preparation of IFRS Valuations, IFRS profit calculations and providing insight into results as well as drafting reports.
• Carrying out regulatory solvency calculations at a cell captive client and a life license level.
• Performing calculations for dividend declarations, board reports, product sign-offs and ad-hoc requests.
• Produce regular and ad-hoc experience/financial reports.
• Liaise with a wide range of stakeholders, including actuaries, reinsurers, legal advisors, compliance officers, marketing consultants, data administrators and clients with regard to various cell maintenance processes. This includes, but is not limited to, data requirements, financial reporting, and regulatory reporting and cell product strategies.
• Provide support to the OMART team with new cell and product launches.
• Support with ad-hoc OMART projects, including the data management project
• Responsible for technical accuracy and implementation of work.

Requirements:

• Actuarial graduate with at least 4 – 8 exam credits 
• Strong technical skills and attention to detail
• Good interpersonal skills and the ability to work in a team and across teams
• Good communication skills, both written and verbal
• Ability to plan and prioritise, make decisions and deliver on time
• Ability to work on multiple deliverables and manage expectations
• Motivated self-starter who takes accountability, shows initiative and innovates
• Enthusiasm to learn and grow
• High level of accountability
• Decision-making ability
• Good people skills
• Proficiency in Microsoft Office (Word, Excel, Powerpoint, Access)

The following will be an added advantage:

• Prophet and/or DCS skills
• Programming skills (Visual Basic)
• Advanced Excel Skills
• Knowledge of IFRS and Regulatory Solvency Valuations

Skills

• Client Management, Decision Making, Interpersonal Communication, Prioritization, Process Improvements, Profitability

Education

• Bachelors Degree (B): Actuarial Science (Required)

Closing Date

28 April 2023