Head: Reinsurance at Old Mutual

Job Description

Skills and knowledge required:

• Degree in Actuarial Science or similar
• A Postgraduate qualification in Business will be an advantage
• Previous experience in a Reinsurance role (7 – 10 years)
• The ability to lead a team of specialists and handle complex data

The Recruitment Process:

• TA Interview: This will be a discussion with a member of the Talent Acquisition Team to give you an understanding of our business, our culture & values and more context on the role. It will also allow us the opportunity to get to know you more and ensure OMI can meet your career aspirations.
• Panel Interview: This will be with 2 members of the Senior Leadership of the Hiring Team and 1 member of the HC Leadership Team.
• Technical & Psychometric Assessments: These will depend on the role and will sometimes happen concurrently with Vetting through an external service provider & Internal Verification.
• Final Feedback.
• This role will manage a line of business with a team of general insurance actuaries.
• The successful candidate will also conduct research and recommend policies to assist with the Old Mutual Insure's financial structure, complete financial projections and perform actuarial analysis. The function will also advice and provide input to others in particularly complex situations.
• At the core of this role, one will be expected to build and maintain reinsurer & reinsurance broker relationships as well as focus on engagements with high level stakeholders.

Responsibilities

• Actuarial Analysis, Assumptions and Insights
• Lead the creation and quality assurance of actuarial analyses, assumption setting, insights, and management reports, providing guidance to others in highly complex or ambiguous situations to support business decision-making and/or business performance evaluation.
• Lead the performance and integration of highly sophisticated analytics to promote understanding of different business areas or critical business challenges/opportunities.

Actuarial Model Creation and Maintenance

• Lead the development and maintenance of actuarial models for a significant line of business, market segment, or local legal entity, ensuring full integration with broader business models to enable actuarial analysis, financial reporting, and regulatory compliance.

Actuarial Product Development & Management

• Develop proposals for significant or complex new products and for the improvement and management of existing products that create competitive advantage, that are viable in relation to the organization's risk appetite and financial objectives, and that meet regulatory requirements.

Actuarial Financial Reporting

• Lead the production and integration of statutory and non-statutory actuarial financial information, reports, and other disclosures relating to a significant line of business or market segment.

Leadership and Direction

• Communicate the function's strategy and its relationship to the organization's mission, vision, and values; clarify the actions needed to implement this strategy within the area of responsibility; motivate people to commit to the mission, vision, and values and do extraordinary things to achieve the organization's business goals.

Performance Management

• Manage and report on the performance of the function/business area; set appropriate performance objectives for direct reports and hold individuals accountable for achieving them; take appropriate corrective action where necessary to ensure the achievement of annual business objectives.

Compliance

• Ensure that business activities within the area of responsibility comply with relevant external regulatory and/or voluntary codes and with internal policies and procedures to minimize business risk and to protect the reputation of the organization.

Organizational Risk Management

• Manage a significant portion of the organization's risk, financial management and/or control process.

Organizational Capability Building

• Evaluate the capabilities of staff within the department to identify gaps and prioritize development activities. Implement the organization's formal development frameworks within the area of responsibility. Coach and mentor others to support the development of the organization's talent pool.

Functional Strategy Formation & Planning

• Lead the development and implementation of strategy for a significant area of responsibility, anticipating complex issues, challenges, and opportunities, and ensuring integration with wider corporate strategy.
• Develop and propose annual business plans for a given area or department, ensuring alignment with strategy. Take responsibility for setting and managing area budgets so they align with organizational strategy.

Skills

• Action Planning, Adaptive Thinking, Agile Project Management, Business, Business Objectives, Commercial Acumen, Data Compilation, Data Controls, Executing Plans, Financial Acumen, Identifying Customer Needs, Information Management, Insurance Product Management, Insurance Sales, Leadership, Legal Practices, Negotiation, People Management, Policies & Procedures, Risk Management, Strategic Planning, Workflow Management

Competencies

• Attracts Top Talent
• Balances Stakeholders
• Builds Effective Teams
• Builds Networks
• Business Insight
• Communicates Effectively
• Decision Quality
• Ensures Accountability

Education

• NQF Level 9 – Masters

Closing Date

• 01 August 2025