Senior Actuarial Specialist at Old Mutual South Africa

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."