Snr Actuarial Specialist at Old Mutual

Job Description

Role Overview:

The Mass and Foundation Cluster (MFC) Actuarial Finance team has an exciting opportunity for a suitably qualified individual to play a key review and thought leadership role in the valuation space. The team is responsible for financial reporting (IFRS, MCEV and SAM), maintaining (coding and peer review) of Prophet and DCS models, and supporting robust forecasting, business planning and monthly reporting for the segment.

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 Risk 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.

Key Results Areas:

• 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
• 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.

Requirements: Skills, Qualifications and Experience required:

• Qualified actuary or actuarial student
• 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 following would also be advantageous:

• Knowledge of the MFC environment, products and systems
• Valuation experience
• Prophet and DCS models experience

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

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.

Skills

• Excellent communication skills, Management Reporting, Prioritization, Proactive Approach, Taking Initiatives

Education

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

Closing Date

• 08 October 2022