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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.
Job Description
The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.
A vacancy now exists for a Senior Actuarial Specialist (role size N) in Group Assurance Products to support the Group Risk Pricing Actuary. The incumbent will be responsible for maintaining GAP’s excellence in pricing of large group schemes, with a focus on the development and maintenance of pricing methodology and pricing tools.
Key Result Areas
The incumbent will be expected to interact with clients, intermediaries and internal stakeholders at all levels. Core responsibilities of the role will include:
Pricing of large and complex group risk arrangements, ensuring the retention of profitable business and that new business is written on a competitive but also financially sound basis
Develop, enhance and maintain all aspects of experience-rating methodology and assumptions for large group risk schemes, particularly in light of emerging covid-19 experience
Development and maintenance of innovative pricing tools with a focus on improving accuracy, efficiency and facilitating actuarial judgement through analytics
Managing both the profitability and volatility of the portfolio through the use of reinsurance, and designing tools to support this function
Continuous improvement of pricing and business processes
Automation of models to enhance efficiency
Ensure compliance with model risk policy as part of the risk management framework
Accountability for the development and maintenance of appropriate IT infrastructure to support group risk pricing
Training & development of junior actuarial students
Qualifications and Experience required
Senior actuarial student making good progress with actuarial exams (exceptional candidates who don’t meet this requirement may be considered)
At least 3 years actuarial experience
Exposure to group risk products or group risk pricing roles would be a distinct advantage
Strong analytical and technical skills
Strong VBA and excel skill
Strong business acumen
Ability to run projects independently
Good communication skills and have the ability to work across teams and to interact and collaborate effectively with various stakeholders
Ability to think different in developing client-centric solutions
"Old Mutual Limited has decided to adopt the mandatory vaccination policy requiring its workforce to be fully vaccinated by 1 March 2022. All prospective employees are required to disclose their vaccination certificates or cards as part of the recruitment process."
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