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  • Posted: Dec 6, 2021
    Deadline: Not specified
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    Old Mutual Limited (OML) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries.


    Read more about this company

     

    Old Mutual Corporate & OMART Financial Manager

    Job Description

    The role entails the implementation of effective financial management for Old Mutual Corporate; which includes OMART.

    To be an essential part of the leadership team, the Finance Manager will provide strategic, financial and operational input and will support both the Old Mutual Corporate CFO and OMART (Old Mutual Alternative Risk Transfer) , ensuring sound financial control and that business decisions are sound.

    This person shall have a combination of strong business, financial, strategic, and analytical skills to ensure the provision of business and support services (Finance, Operations, Legal, and Risk management) is of a high standard and enables both Old Mutual Corporate and OMART to meet its objectives of providing its clients and staff with responsive end to end business systems and timely and accurate financial and business information.

    Manages a team in Old Mutual Corporate and oversees financial control in OMART.

     

    Overview of Role Description:

    • Being the Financial Manager of Old Mutual Corporate and OMART, this role will provide a strong business partnership to the Senior Financial Manager, CFO and OMART for achievement of the overall business objectives as defined in the business plan or directed by OMART’s Board.

    • Developing financial processes and performance metrics.

    • Integrating sound sustainable financial function across Old Mutual Corporate and OMART.

    • Prepare for the implementation of IFRS17; by delivering to the overall programme timeline. This includes overseeing OMART; which would require insurance disclosure akin to that of a separate insurance company.

    • Develop, report on and interpret cost drivers, KPI’s and benchmarks. Provide commentary on financial results and implications and implements corrective actions to be taken.

    • Manage the financial effect of transactions throughout the Old Mutual Corporate value chain; which spans distribution, administration, product management and group reporting.

    • Drives commercial aspects throughout Corporate and OMART.

    • Assisting with the development and implementation of the business strategy and business plan from a financial perspective.

     

    Key result areas and work descriptors:

    Generic Key Results Areas:

    • Business partnering

      • Network with stakeholders throughout the Old Mutual Corporate value chain; including OMART so as to understand their business requirements and proactively find ways of meeting those requirements.

      • Drives commercial aspects of the business.

     

    • Financial control

      • Responsible for ensuring sound financial control and reconciliation to PAS.

      • Ensures appropriate financial controls are applied throughout both Old Mutual Corporate and OMART.

      • Integrating sound sustainable financial function across Old Mutual Corporate and OMART that will facilitate sound application of IFRS17. OMART, a cell captive, requires extensive insurance company level insurance disclosure.

      • Manages the delivery of financial information that it is valid, accurate and complete. Carries overall responsibility for the preparation and quality of financial reporting.

     

    • Financial management

      • Proactively provides analysis of financial results and recommends appropriate action to senior management. 

      • Ensures an effective expense management process is followed through the business and maintains tight control over expenses.

      • Produces business financial reports with meaningful analysis and commentary.

      • Identifies opportunities to improve profitability and makes recommendations to senior management.

     

    • Financial strategy

      • Responsible for driving the financial aspects of the Business Planning process. Translate strategy into the business plan for Corporate and OMART over the business planning horizon.

      • Contributes to and implements financial strategy through teams reporting to other managers.

      • Drives and influences the commercial aspects of Corporate and OMART.

     

    • Governance & compliance

      • Drives the improvement of financial operating practices in Corporate and OMART.

     

    • Management effectiveness

      • Influences the day to day delivery of financial support from Group Finance and throughout the Old Mutual Corporate value chain.

     

    Role Qualifications:

    • CA(SA) (or at a minimum at a tertiary finance qualification combined with relevant experience at an auditing firm (e.g. articles))

    • 15 years of relevant experience in a finance function of an insurer; including retirement fund administration

    • Relevant financial experience of a cell captive insurer

    • Working knowledge of IFRS17

    Method of Application

    Interested and qualified? Go to Old Mutual on oldmutual.wd3.myworkdayjobs.com to apply

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