Intermediate Actuarial Specialist: Capital Reporting at Old Mutual

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 candidate with considerable progress with actuarial examinations, to gain unique experience in the inner workings of a complex financial services group. This role will report to the Capital Reporting Actuary and is responsible for delivering various risk metrics for internal and regulatory reporting as part of 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 Result 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).

• Production of Credit Risk results.
• Managing the delivery dates and reviewing data supplied.
• Maintaining and improving the tools used in the various processes.
• Producing capital sensitivity results.
• 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).
• Earnings At Risk metric production that forms part of the ORSA as well as the business’ governance framework.
• Business support through providing executive team with analysis of impact of proposed balance sheet changes on overall OMLACSA 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).

Qualifications and Experience required:

• Actuarial student with a minimum of 9 exam
• At least 2 years’ actuarial experience
• Finance reporting experience will be highly beneficial
• 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
• Prior experience with process re-engineering