Senior Actuarial Specialist - Product & Risk at Old Mutual

About the Job

Old Mutual Group Assurance (GAP) is a leader in the Group Risk market. This market position has been achieved through a focus on consistency in service excellence and product innovation in group risk products.

Old Mutual Group Assurance Products (GAP) is seeking an experienced actuarial student to fulfil the role of a Senior Actuarial Specialist, supporting the GAP Product & Risk Actuary.  The incumbent will be involved in regular product reviews and product maintenance with the focus being to maintain GAP’s excellence in product management.  The incumbent would also be responsible for the pricing of large group risk arrangements and assisting with the development and implementation of the reinsurance strategy (both long and short term).  The incumbent will be expected to interact with clients, intermediaries and internal stakeholders at all levels. 

Core responsibilities of the role will include:

• Assisting with and input into the development and implementation of a framework for performing regular product reviews

• Maintenance and/or enhancements of the existing group risk product range; e.g review of benefits and pricing, maximum benefits, policy contracts and terms & conditions

• Provide thought leadership and actuarial expertise to a cross-functional team reviewing key features of existing group risk product suite

• Provide technical oversight and support, i.t.o. group risk products to servicing areas

• Provide support in performing market research & competitor analysis to inform product strategy

• Identify, manage and mitigate risks (and associated controls) in the business relating to group assurance products & assisting with the reporting thereof to the relevant governing committees

• Managing of and reporting on both the inwards and outwards reinsurance requirements for the group risk products for GAP; including (inter alia) auto-treaty, facultative and international pooling arrangements

• Assisting in setting the strategic reinsurance strategy for GAP, both long and short term

• Pricing of large and complex group risk arrangements

• Training & development of junior actuarial students

Requirements:

• Senior actuarial student making good progress with exams (exceptional candidates who don’t meet this requirement may be considered)

• Substantial actuarial experience (a minimum of 3 years)

• Strong analytical and technical skills

• Ability to run projects independently

• Ability to work across teams and collaborate with various stakeholders

• Good communication skills and have the ability to interact effectively with internal stakeholders at all levels

• Highly motivated and energetic self-starter who is good at working with complex tasks under tight

• deadlines

• Exposure to products or pricing roles would be an advantage

• Group Assurance pricing experience would be an advantage

• Experience in the Group Risk or Employee Benefits industry would be an advantage

Please note that the appointments may be made at a lower role size depending on the successful candidates’ experience and exam progress.

"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."