Intermediate Actuarial Specialist-Johannesburg at Old Mutual South Africa

Job Description

We are an African Insurance Giant

• Be a part of our business that is growing its footprint across Africa as well as expanding our actuarial presence in Johannesburg. Old Mutual is an insurance giant in Africa, with life insurance entities currently established in Namibia, Swaziland, Zimbabwe, Ghana, Nigeria, Botswana, Malawi, Kenya and Uganda. Our expanding emerging market footprint includes operations not only in the rest of Africa, but also in Latin America and Asia and represents a vast network of opportunity for innovative, creative and motivated individuals to benefit from while they gather unmatched professional experience on the way to becoming a leader in our business.

Why the Africa Actuarial Services Team?

• In this role, you will work as part of a team tasked with providing actuarial services to the life entities in the Rest of Africa, consolidating and explaining the life financial results for Old Mutual Africa in all aspects of reporting: monthly management reporting, forecasting, business planning, quarterly IFRS and MCEV reporting as well as capital reporting to regulators.
• The team works closely with the Old Mutual Africa Executive team, OMEM central reporting team and in-country Finance Directors and actuarial teams in producing results that drive decision making to help accomplish the Old Mutual Emerging Markets (OMEM) growth strategy. In addition, the team has strong working relationships with the Statutory and Country Actuaries of the various countries.
• We are a vibrant, diverse team, thriving on new ideas and high performance while making a meaningful impact on our customers in Africa. Our team will continue to grow in numbers, playing a key role in further building Old Mutual’s actuarial base in Johannesburg. Our team also continues to provide great opportunities for innovative, creative and motivated individuals to benefit and learn from while they gather unmatched professional experience and exposure to a variety of different countries and cultures on the way to becoming a leader in our business.

Key Result Areas

Financial Reporting

• Ensure that valuation results (IFRS4 profits and Embedded Value) are produced accurately, within agreed deadlines and with appropriate supporting commentary.
• Ownership of the custom-built Prophet models, plus other models, for calculation of liabilities, embedded value and capital in various African countries.
• Presenting quarterly results to management and the Namibian Statutory Actuary.

IFRS 17 project

• Support the team’s production of transition results for the upcoming IFRS 17 implementation.
• Participate in dual reporting as we transition from IFRS4 to IFRS17 reporting.

General

• Ensure that all actuarial processes are performed as efficiently as possible, finding and delivering continuous process improvement and standardisation opportunities as well as ensuring processes are performed with appropriate controls.

Requirements

• Actuarial graduate with a minimum of 9 exam credits (exceptional candidates not meeting this criteria may be considered and appointed at a lower role size)
• At least one-year actuarial experience
• Motivated self-starter
• Takes initiative
• Ability to interact effectively with people at all levels of the organisation
• Ability to complete tasks within agreed timelines with minimal guidance
• Strong technical skills (especially with valuations experience in Prophet)
• Attention to detail
• Excellent people skills
• Ability to work in a team
• High levels of drive, energy, and innovation who are willing to learn and grow

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

Skills

Business Planning, Continuous Improvement (CI), Continuous Process, Creativity, Finance, Learning Quickly, Results-Oriented, Taking Initiative, Teamwork

Education

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

Closing Date

• 27 September 2022