Jobs at Old Mutual

KRA's

• Performing technical actuarial work, using data, processes and complex systems with minimal guidance. This includes the following:
• Performing Financial Soundness Valuations, IFRS profit analysis of surplus, providing insights into results and drafting valuation reports.
• SAM Regulatory solvency calculations
• Performing calculations for dividend declarations, board reports, product sign-offs and ad-hoc requests.
• Producing regular and ad-hoc experience/financial reports.
• IFRS17 readiness and implementation
• Supporting the Head of Actuarial with risk management for OMART, including defining risk policies and risk appetite and tracking and managing financial and non-financial risks
• Responsible for the technical accuracy and implementation of work, including managing an actuarial student
• Liaising with stakeholders within OMART, including the OMART MD and board
• Liaising with stakeholders within the Old Mutual group, such as OMART’s Head of Actuarial function, legal and compliance advisers, marketing consultants and data administrators
• Liaising with external stakeholders such as cell captive clients, reinsurers and the Prudential Authority
• Support the OMART team with new cell and product launches
• Translate market, client and financial data analysis results into client-friendly reports and presentations.

Job Requirements

• Newly qualified actuary.
• In case of an exam lag, significant relevant experience will also be considered.
• A minimum of 3 years’ actuarial experience
• IFRS or Regulatory Solvency valuations experience
• Strong technical skills and attention to detail
• Good interpersonal skills and the ability to work in a team and across teams
• Good communication skills, both written and verbal
• Ability to plan and prioritise, make decisions and deliver on time
• Ability to work on multiple deliverables and manage expectations
• Motivated self-starter who takes accountability, shows initiative and innovates
• Enthusiasm to learn and grow
• Proficiency in Microsoft Office (Word, Excel, Powerpoint, Access)

The Following Will Be An Added Advantage

• Prophet and/or DCS skills
• Programming skills (Visual Basic)
• Management experience

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Compliance

• Assists in mitigation of compliance risk.
• Ensures compliance within BU and functional areas within a BU, by implementation of compliance risk management and monitoring plan.
• Establishes and embeds compliance, directly and/or through staff supervised over periods of 3-12 months.
• Facilitates resolution on compliance breaches.
• Influences new legislative developments via industry committee stakeholders.
• Influences under supervision of the Senior Compliance Officer / Compliance Executive across the whole of the BU and functional areas within a BU from a compliance perspective.
• Utilises a wide scope of applicable legislation, including all primary legislation.

Reporting

• Reports on compliance breaches to BU/functional areas management, Service Boards, Trustee Boards and Compliance Executive.

Team Effectiveness

• Balances own priorities with directing and motivating others.
• Creates a climate for optimal performance.
• Guides and directs staff to achieve operational excellence standards.
• Individually accountable for staff time, tasks and output quality, over periods of 3 - 12 months.
• Manages performance.
• Manages staff (e.g. Assistant Compliance Officers / Compliance Officers)
• Plans and assigns work over periods of 3 – 12 months.
• Selects potential staff to sustain customer/client service delivery.

Role Description

• Establishes & embeds compliance across BU.
• Ensures compliance within BU or two or more functional areas within a BU, by implementation of compliance risk management and monitoring plan.
• Reports on compliance breaches to BU/functional areas management, Pension Fund Trustees and Senior Compliance Officer/Compliance Executive.
• Facilitates resolution of compliance breaches.
• Plans and presents compliance monitoring plan to BU’s, Service Boards and Trustee Boards in advance.
• Assists in mitigation of compliance risk.
• Reports to the Senior Compliance Officer/Compliance Executive.
• Influences under supervision of the Senior Compliance Officer /Compliance Executive across functional areas within BU’s from a compliance perspective.
• Influences new legislative developments via industry committee stakeholders.
• Utilises a wide scope of applicable legislation, including all primary legislation.
• Manages staff (e.g. Assistant Compliance Officers, Compliance Officers)
• Advantageous to have recognized legal, financial or audit qualifications and/or a professional designation, for example in the compliance field.

Job Requirements

• Grade 12
• Degree / Diploma ( legal, financial or audit)
• C Prac (CISA) (advantageous)
• At least 5 years’ relevant experience in the FS industry.
• Working knowledge and understanding of FAIS, FICA, Long Term Insurance Act, Pension Funds Act, Income Tax Act, CISCA
• LISP experience (advantageous)
• Employee Benefits experience (Prerequisite)
• Collective Investments experience (advantageous)
• Previous experience as a Compliance Officer would be preferred
• Previous management experience / experience leading a team of professionals
• Project Management experience (advantageous)

Competencies

• Strategic
• Change as a Way of Executing
• Leading with influence
• Collaboration (Diversity & Inclusion)
• Agile Innovation
• Customer First
• Personal Mastery (Lifelong Learning)

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This role assists the Senior Risk Officer to embed and mature Operational and Regulatory Risk culture within the Capability Cluster and the OML organisation. The individual is accountable for achieving results through own efforts

KRA's

• Assists business unit management to develop their risk management strategy in accordance with OMLACSA Audit Risk & Compliance Committee approved risk appetite & segment requirements
• Performing Business Impact Assessments;
• Manages implementation of OMSA Policy Statements, supporting guidance & procedures within area of responsibility.
• Provides support & assistance to business unit management where required to embed risk management & provide challenge where deemed appropriate Interacting with the Facilities teams to improve the Alternate seating strategy;
• Running workshops with the Business owners and assessing and raising risks and threats that emerge from workshops;
• Ensures that risk processes (risk assessment, identification, management, reporting & optimisation) are implemented at business unit level .
• Provides assistance, guidance and challenge the business unit risk reports & presents these to business unit management & relevant CC Audit, Risk and Compliance committee, OPSComm and StratComm.
• Provides oversight for risk management activities across CC, ensuring OMSA policy statements are met.
• Reports directly to CC Senior Risk Officer, with an indirect reporting line to our CC Business Leaders and Executive managers.
• Develops & embeds reporting structures which meet information requirements of business unit management.
• Ensures risk aggregation reports & management risk self-assessment provided by CC management.
• Provides support to business unit management in carrying out risk-related responsibilities.

Other Responsibilities Include

• Prepares and compiles relevant reports e.g. monthly, ARCC reports;

Job Requirements

• Relevant tertiary qualification with a minimum of 4 years relevant Risk Management experience
• Excellent relationship building skills and ability to influence others.
• A team player who can interface at all levels
• A motivated self-starter, capable of working on own initiative with a high level of integrity.
• Ability to work professionally and constructively within a team environment providing advice and consultancy.
• A confident communicator, resourceful and proactive, ensuring adequate quality and timely delivery of presentations and reports.
• Proficient in MS Excel, Word, Visio and PowerPoint
• A background in audit, assurance within a financial services.

Competencies

• Collaboration (Relating)
• Customer First
• Execution
• Innovation (Perspective)
• Leading with Influence
• Personal Mastery (Learning)