Senior Actuarial Model Development Specialist at Old Mutual

Job Description

Old Mutual’s Actuarial Model Development Team is a Centre of Excellence situated in Cape Town and Sandton. The team is responsible for the design, development and maintenance of actuarial models, data repositories and Process Automation for the Financial Reporting & Pricing functions in Old Mutual’s life assurance businesses. 

In addition to focusing on the models, the team is responsible for IT solutions & governances supporting the actuarial models and processes. Meeting IFRS17 actuarial requirements is a significant challenge for the team in the next 2 years or more.  These responsibilities require suitably skilled actuaries to deliver.

Key Result Areas:

As a key member of our agile team, the immediate challenge will be developing and implementing efficient modelling & IT solutions and process automation for all business requirements with specific focus on the requirements from the new IFRS17 accounting standard. 

Expected deliverables include: 

• Finding and implementing solutions for modelling and reporting challenges (primarily for IFRS17)
• Designing, implementing and maintaining appropriate IT solutions in support of the actuarial reporting function
• Designing and maintaining databases for the management of all actuarial reporting data
• Working on projects spanning across several business units
• Identifying opportunities for standardisation and improved efficiency through automation or process changes
• Implementing and maintaining data and model governances

Requirements: Skills, Qualifications and Experience required

• Nearly or newly qualified Actuary 
• At least 4 years relevant work experience
• Excellent programming skills
• Preference to work with IT and data
• Proven process design and automation skills
• Creative problem-solving skills with the ability to design appropriate models and IT/process solutions
• Able to give recommendations on best practices on design
• Able to grasp complex requirements quickly
• Be able to work efficiently and accurately
• Able to communicate well and be understood by others
• Deadline driven and highly motivated
• Be able to deliver various responsibilities in parallel
• Works well in a team with the aptitude to promote team goals

Following will be advantageous:

• Experience with SQL, SSIS, VBA & C#/C++
• Experience with Prophet development & DCS
• Knowledge of IFRS17 (e.g. development & infrastructure)