Job Opportunities at Old Mutual South Africa

Job Description

Responsible for:

•     Underwriting management within mandate to ensure the Elite portfolio grows profitably and aligned to business plan.
•     Renewal retention and management taking into consideration agreed increase targets.
•     Accounts management within agreed turn-around times and in accordance with quality requirements.
•     Proactive risk management within mandate as and when required.
•     Maintaining and growing relationships with intermediary partners and internal stakeholders to ensure a profitable, stable and growing Elite portfolio.
•     Take initiative in recommending appropriate solutions in respect of risk-related matters which will enable the organisation to profitably manage the risks that our policy covers.

Competencies

Critical objectives and responsibilities

• Responsible for specialist underwriting relating to renewal retention, accounts execution, queries and liaison, and proactive risk management within mandate. Execute appropriate solutions in respect of risk-related matters which will enable the organisation to profitably manage the risks that our policy covers.

Strategic

• Accumulates data from a group of tasks and translate it into knowledge
• Interprets complex specialist / technical data
• Conducts in-depth investigations / analysis and derives various hypotheses
• Skilled in detailed systematic and analytical procedures
• Conducts efficient reality checks
• Understands financial and commercial principles
• Makes use of theoretical / specialist knowledge base
• Innovation
• Recommends new, creative ways to improve processes
• Open to new ideas, not too quick to analyse possible negatives
• Encourages new ideas from others; rewards new thinking and creative solutions
• Willing to challenge others and the status quo
• Stays abreast of changes to the business practices
• Actively integrates with other teams in order to gain new and different perspectives
• Is resourceful and will go out of their way to find new information
• Restlessly seeks new ideas and ways to improve and encourage innovation
• Customer first
• Considers client needs when developing solutions, services and processes to ensure that needs are met
• Maintain values of integrity, respect, accountability and pushing beyond boundaries in dealing with customers
• Motivating others to display a genuine interest in customer and exceed expectations
• Respectful, warm and friendly when dealing with client
• Ensure service is energetic, fast and efficient
• Seeks to eliminate recurring service problems
• Leading with influence
• Old Mutual values are at the core of the way work is done
• Collaboration
• Develops relationships by establishing mutual interests and needs
• Establishes rapport. Comes across as warm, diplomatic and respectful
• Responds appropriately to the diverse needs of others
• Responsible and dependable – builds trust
• Handles criticism and negativity tactfully
• Demonstrates control over own emotions and impulses
• Executing
• Schedules own tasks in order to get work done over a period of 1 day to 3 months
• Makes use of other resources when needed
• Maintains a diary or schedule
• Adjusts schedule based on priority issues
• Plans use of own time to accomplish a variety of tasks
• Takes action without being prompted to do so
• Clearly spells out the next steps to be taken
• Sets high standard of work performance for self by being accurate; detailed and adhering to relevant processes and procedures
• Perseveres until key tasks are completed
• Displays energy in tackling challenges
• Personal mastery
• Acknowledges own strengths and development areas and demonstrates self-insight
• Demonstrates ability to learn on the job
• Shows ability to adapt behaviour based on feedback
• Deals with pressure whilst being responsible for demanding workloads.
• Is able to take cope with changes to work environment
• Takes ownership for results
• Optimistic approach to life – believe in own ability to deal with stressful situations

Experience, knowledge & skills required

• Diploma and/or equivalent NQF Level 6 qualification in general insurance.
• 3 – 5 years’ experience in personal lines underwriting.
• 3 – 5 years’ experience in Old Mutual Insure.
• Knowledge of Old Mutual Insure policy administration systems.

Competency descriptors

• Communication: Able to effectively communicate verbally and in writing with a wide range of stakeholders.
• Customer: Putting the customer at the heart of business decisions and driving to improve value for customers.
• Collaboration: Creates trust, respect and builds meaningful relationships. Able to handle a wide range of relational challenges to ensure collaboration across boundaries.
• Innovation: Generates creative/out of the box solutions. Challenges the status quo and/or demonstrates ability to relate to challenges from a range of diverse but relevant perspectives. Willing to take calculated risks when introducing novel ideas.
• Personal mastery: Learns and actively works to build self-awareness; develop through experience and feedback from others. Copes effectively with stress and has the resilience to take on stretching and challenging assignments. Adjusts effectively to work within new work structures; processes; requirements and cultures.
• Executing: Displays consistent energy, drive and perseverance in order to deliver results. Demonstrates a willingness to take calculated risks to achieve stretch performance goals
   

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Job Description

• The Legacy & Product Management team is looking for a suitably qualified individual for an Intermediate Actuarial Specialist role within the Product Solutions area. The Legacy & Product Management team is responsible for product management and performance for both savings and income products in the Old Mutual Retail market.
• We are looking for someone driven and excited to take on new challenges to help us grow, maintain and improve our existing Retail Investment Proposition. In joining the team, you will provide support to various functions measuring and/or enhancing product performance as well as supporting projects. You will have exposure to either/both MFC and PF Retail Savings products and will get an in-depth view of how these fit into the investment landscape within South Africa, as well as the customer and business value propositions championed by Old Mutual.

Key Result Areas

• Product development and implementation, including system testing.
• Ensuring client correspondence and marketing material are consistent with product rules.
• Supporting the proposition management function with technical actuarial work. 
• Building and maintaining actuarial models.
• Producing management information.
• Assessing and recommending decisive action relating to customer value for money.
• Investigations related to product rules, business optimisation and feasibility studies, including product strategy.
• Providing business input into new product developments, experience investigations and repricing exercises carried out by Product Solutions. 
• Product reviews. 
• Ensuring product rules are consistent with the most up-to-date regulatory environment

Role Qualifications, Skills & Experience required

• Actuarial student with at least 9 actuarial examination credits 
• Minimum 1 year work experience 
• Experience in a product management/performance/similar role will be beneficial.
• Knowledge of Old Mutual’s Retail Savings and Income products for the Personal Finance and/or MFC segments, IT platforms and processes would be advantageous. 
• Experience and knowledge of actuarial models used to support the above-mentioned products. 
• Strong technical skills and attention to detail. 
• Good interpersonal skills and ability to work in a team and across teams. 
• Good communication skills (both written and verbal). 
• Ability to plan and prioritise. 
• Motivated self-starter who shows initiative, is proactive and looks for ways to improve existing processes.
• High levels of drive, energy and innovation.
• Willing to learn and grow. 
• Microsoft Office (Word, Excel, Powerpoint, Access).
• Programming knowledge advantageous.

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Job Description

This role manages a sales team and distribution strategy and is accountable for the sales targets and profitability of the team, over periods of up to a year.
The position has been identified as a FAIS position and falls within the ambit contemplated by FAIS related to Category B. The successful candidates must therefore comply with all FAIS requirements, including the Fit and Proper requirements of Honesty and Integrity (e.g. be clear of any offence relating to fraud, dishonesty and/or any professional misconduct) as well as competence and relevant qualifications.

• Manages sales & expense budget for a sales team in a branch against set targets.
• Responsible for distribution strategy of products within a branch.
• Accountable for local marketing.
• Identifies & creates coordinated sales opportunities.
• Responsible for external networking & relationship building with key door openers.
• Ensures delivery of customer value.
• Manages, develops, appoints & trains sales advisors.

Requirements:

• GRADE 12
• DRIVER'S LICENCE
• FAIS ACCREDITATION ( RE5 Certificate / FSB RECOGNISED QUALIFICATION )
• 3 YEARS INSURANCE SALES EXPERIENCE
• 3 YEARS MANAGEMENT EXPERIENCE
• MODP COMPLETED – INTERNAL CANDIDATES

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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