Senior Actuarial Specialist at Old Mutual South Africa

Reporting to the Valuations Manager, the role will allow you to develop sound technical knowledge and grant exposure to coaching.The successful candidate will be accountable for the end to end reporting process for the MFC Savings product range, from ownership of the actuarial model to reporting of the results to senior stakeholders with appropriate analysis and insights to drive decision making that helps achieve the MFC strategy. The incumbent will be required to continually review and improve existing methods and processes. The role will participate in various projects, including IFRS 17 implementation, which will present opportunities to develop further insights and influence reporting within and across the business and finance community.

Requirements

• Qualified actuary or actuarial student with minimum 11 actuarial exams
• At least 4 years actuarial experience
• Strong technical skills
• Strong detail orientation coupled with the ability to see the “big picture”
• Excellent communication skills (both written and verbal)
• Motivated self-starter who shows initiative, is proactive, looks for ways to improve
• Able to complete tasks within agreed timelines and drive projects to completion with minimal guidance
• Interest in financial modelling software
• Ability to plan and prioritise
• Willing to learn and grow
• High level of accountability

The incumbent will have an added advantage if he/she has the set skills listed below

• Previous valuation experience will be an advantage.
• Prophet or DCS (or similar modelling) experience will be an advantage.
   

Responsibilities

• Financial reporting - Ensure that valuation results are produced accurately, within agreed deadlines and with appropriate supporting commentary
• Capital management – Support for producing capital calculations accurately and on time
• Bonus declarations – Produce supporting calculations that can assist the statutory actuary in setting bonus rates
• Business planning / forecasting – Support the team that provides forecasting and ongoing monitoring (outside of valuation periods) of the financial impacts of the OML strategy (by providing the necessary technical calculations)
• Investigations – Undertake investigations (on behalf of Business Partner, Finance Actuary and Actuarial Manager) as will be delegated to you
• Models – Ownership of Prophet and DCS models used in valuations
• Continuous improvements – Enhancements of models and processes that produce IFRS/FSV, MCEV and SAM reporting
• IFRS 17 implementation: Participation in the segment’s involvement in the IFRS 17 project and the transition of reporting into BAU.
• General – Ensure that all actuarial processes are performed as efficiently as possible, and are compliant with the current risk control environment

Skills And Experience

• 3-5 years

Education

• Fellow Of Actuarial Society Of South Africa (FASSA): Actuarial Science (Required)