Intermediate Actuarial Specialist: New Entrant at Old Mutual South Africa

Job Description

• An exciting opportunity exists within the Corporate Actuarial team offering exposure to an interesting combination of technical and business issues. The role requires a technically sound individual to collaborate effectively with various teams and stakeholders at all levels.
• A key part of the role will be in the calculation of the group assurance valuation results and reporting processes, providing insights to the business, and ensuring appropriate reserves and capital are held. The role will also require participation in various projects, which will present opportunities to develop further insights and influence reporting within and across the various teams.
• The incumbent candidate will also be involved in the implementation of the development projects, particularly the IFRS17 project, in the group assurance products. There will be a strong focus on ensuring processes are robust, efficient and fit for purpose, with appropriate controls.

Key Result Areas

Life insurance reserving, embedded value, capital and business insights: Involved in the valuation process and provide insights on the Corporate Segment (CS) financial results and performance, while ensuring appropriate controls, including

• Reserving
• Market consistent embedded value
• Value of new business
• Analysis of surplus and embedded value
• Solvency capital calculations
• Earnings at risk
• Experience investigations
• Development and maintenance of tools to analyze actuarial data and results in order to enhance management reporting
• Produce reports providing insights into business results and emerging trends

IFRS 17 development and implementation: Involve in the implementation of IFRS17 in the CS products:

• Data and infrastructure implementation
• Policy and methodology formulation
• Transition calculations
• Actuarial modelling support
• Actuarial and finance process enablement
• Business impact analysis

Process efficiency and automation

• Ensure processes are efficient, robust and fit for purpose. Ensure the control environment is adequate and effective.

Ad-hoc projects

• Support the delivery of relevant projects objectives, as and when these arise

Skills, Qualifications and Experience required:

• Actuarial student with at least 7 exam credits (candidates not meeting this criteria may be considered and appointed at a lower role size)
• A minimum of 1- year actuarial experience
• Strong technical skills and attention to detail
• Ability to communicate effectively to diverse technical and non-technical audiences (written and verbal)
• Strong stakeholder engagement skills
• Ability to collaborate effectively with others

Skills

• Actuarial Valuation, IFRS 17
• Life Insurance
• Microsoft Excel
• Microsoft Excel VBA Programming
•  Reporting Processes, SQL

Education

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

Closing Date

• 21 September 2022