Intermediate Actuarial Specialist - Product & Pricing at Old Mutual South Africa

Role Overview

Old Mutual is a leading international long-term savings, investment, banking and protection group. Trusted by more than 14 million customers for over 170 years, we have been serving the growing insurance and investment needs of local customers, companies and their advisors.

We have fantastic work opportunities across our businesses for talented people wanting to realize their full potential. Could that be you? If so, I invite you to explore the possibility of joining us to play your part in Old Mutual's exciting future.

The role is in the Product Development and Pricing team. This team focuses on the new Savings and Income (S&I) product range due to be launched. This new range provides a complete range of Savings wrappers and Annuity options to customers throughout the Old Mutual Retail Market.

The incumbent will be required to provide support to various functions including testing and making alterations to products that have been developed before launch. As the regulatory environment continues to change the incumbent will support developing new products and new features as new regulation is released.

The incumbent will also be required to provide support to the pricing approval process of the products to ensure competitiveness and profitability. The role is a great opportunity be involved in a new product launch in the short term but also learn and grow as does the product over the longer term as well as learn and gain experience in the end to end insurance value chain which includes engaging with a variety of stakeholders across the Old Mutual Group.

Key Result Areas

• Product development and implementation, including system testing.
• Documentation, including remuneration and fee specifications as well as pricing approvals.
• Ensuring client correspondence and marketing material are consistent with product rules.
• Supporting the proposition management function with technical actuarial work.
• Building and maintaining actuarial models including pricing models
• Assessing and recommending decisive action relating to customer value for money.
• Automating of processes and reports using programming/coding techniques.
• Investigations related to product rules, business optimization and feasibility studies, including product strategy.

Requirements

• Actuarial student with minimum of 9 actuarial credits.
• At least 2 years work experience in a product development environment.
• Knowledge of Old Mutual’s Retail Savings and Income products for the Personal Finance segment, IT platforms and processes advantageous.
• Experience and knowledge of actuarial models used to support the above-mentioned products.
• Strong technical skills and attention to detail.
• Good interpersonal skills and ability to work in a team and across teams.
• Good communication skills (both written and verbal).
• Ability to plan and prioritize.
• Motivated self-starter who shows initiative, is proactive and looks for ways to improve existing processes.
• Able to complete tasks within agreed timelines with limited guidance.
• High levels of drive, energy and innovation.
• Willing to learn and grow.
• Microsoft Office (Word, Excel, PowerPoint, Access).
• Programming knowledge advantageous.

Competencies

• Strategy
• Innovation
• Leading with Influence
• Collaboration
• Customer First
• Execution
• Personal Mastery