Group Reporting Actuarial Specialist at Old Mutual

Job Description

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.

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 a unique 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 support the Actuarial Manager responsible for financial reporting. The work will initially focus on production with some exposure to ad-hoc/ project work.  It will also include exposure to operations in China and the Life Liability Committee (supporting the Actuary responsible for Other Group Activities).

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 Result Areas

• Financial reporting – Support the financial reporting team during reporting cycles to ensure that valuation results are produced accurately, within agreed deadlines and with appropriate supporting commentary.

• Other Group Activities – Help drive the improvement of the actuarial reporting process and integration. This would include assisting with ensuring an appropriate regulatory reporting basis for OGA-related entities.

• Continuous improvements – Enhancements of models and processes that produce IFRS/FSV and MCEV reporting.

• IFRS 17 implementation: Participation in the segment’s involvement in the IFRS 17 project and the transition of reporting into standard production.

• Life Liability Committee – Assist with co-ordination, running and preparation of papers.

• Ad-hoc/Project work – Assist with ad hoc requests from the wider business (e.g. product owners, other finance areas).

Qualifications and Skills required

• Nearly or newly qualified Actuary

• At least 4 year’s actuarial experience in life insurance

• Strong technical financial understanding of life insurance products

• 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 valuation experience will be an advantage

• Exposure to group consolidation and accounting reporting process 

• Prior experience with process re-engineering

Please note that the appointments may be made at a lower role size depending on the successful candidates’ experience.

Skills

• Financial Analysis and Reporting, Group Consolidations, Life Insurance

Education

• Bachelor of Commerce (BCom): Actuarial Science (Required), Bachelor of Science (BSc): Actuarial Science (Required)