Old Mutual Limited (OML) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries.
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Job Description
- An exciting opportunity exists within the Corporate Actuarial team offering exposure to an interesting combination of technical and business issues. The role requires a technically sound individual to collaborate effectively with various teams and stakeholders at all levels.
- A key part of the role will be in the calculation of the group assurance valuation results and reporting processes, providing insights to the business, and ensuring appropriate reserves and capital are held. The role will also require participation in various projects, which will present opportunities to develop further insights and influence reporting within and across the various teams.
- The incumbent candidate will also be involved in the implementation of the development projects, particularly the IFRS17 project, in the group assurance products. There will be a strong focus on ensuring processes are robust, efficient and fit for purpose, with appropriate controls.
Key Result Areas
Life insurance reserving, embedded value, capital and business insights: Involved in the valuation process and provide insights on the Corporate Segment (CS) financial results and performance, while ensuring appropriate controls, including
- Reserving
- Market consistent embedded value
- Value of new business
- Analysis of surplus and embedded value
- Solvency capital calculations
- Earnings at risk
- Experience investigations
- Development and maintenance of tools to analyze actuarial data and results in order to enhance management reporting
- Produce reports providing insights into business results and emerging trends
IFRS 17 development and implementation: Involve in the implementation of IFRS17 in the CS products:
- Data and infrastructure implementation
- Policy and methodology formulation
- Transition calculations
- Actuarial modelling support
- Actuarial and finance process enablement
- Business impact analysis
Process efficiency and automation
- Ensure processes are efficient, robust and fit for purpose. Ensure the control environment is adequate and effective.
Ad-hoc projects
- Support the delivery of relevant projects objectives, as and when these arise
Skills, Qualifications and Experience required:
- Actuarial student with at least 7 exam credits (candidates not meeting this criteria may be considered and appointed at a lower role size)
- A minimum of 1- year actuarial experience
- Strong technical skills and attention to detail
- Ability to communicate effectively to diverse technical and non-technical audiences (written and verbal)
- Strong stakeholder engagement skills
- Ability to collaborate effectively with others
Skills
- Actuarial Valuation, IFRS 17
- Life Insurance
- Microsoft Excel
- Microsoft Excel VBA Programming
- Reporting Processes, SQL
Education
- Bachelors Degree (B): Actuarial Science (Required)
Closing Date
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Job Description
- Provide quality direct sales service that results in the production of
- business from new and existing sources, which contributes to the
- profitability and growth of the company. Manage the end-to-end
- customer experience for new and existing business by providing first line
- support to resolve queries.
- Provide quality direct sales service that results in the production of business from new and existing sources.
- Identify and execute on innovative methods to build own
insurance portfolio.
- Prospect for new clients through networking, cold calling and door to door canvassing.
- Manage and drive portfolio profitability and growth by ensuring that on-going service and support (amendments, renewals, and claims) provided to clients is delivered on time and improves the quality of the business underwritten.
- Conduct a comprehensive risk evaluation for the client.
- Provide solutions to clients by selling non-life products aligned to their needs.
- Continuously build client base to secure future portfolio growth.
- Identify and action on cross & up selling opportunities across all products.
- Sell according to agreed targets for the day, week and month.
- Maintain minimum agreed quote volumes.
- Maintain a minimum agreed quote to sales ratio.
- Maintain an agreed NTU – and Cancellation ratio.
- Perform after sales service tasks according to allocated portfolio of customers.
- Monitor and resolve escalated client queries and complaints timeously.
- Manage relationships with clients and ensure that Service Level Agreement standards are met or exceeded in all engagements.
- Retain existing business including renewal discussion in line business process and FAIS Code of Conduct.
- Create collaborative relationships with other departments (underwriting/pricing, and claims) to determine process improvements designed to enhance the customer experience and create easy, value peace of mind.
- Manage time and workloads to ensure that deadlines and targets are met.
Quality service delivery
- Proactively suggest improvements in service and relations where applicable.
- Contribute to a service culture which builds rewarding relationships, proposes innovations and allows others to provide exceptional service. Cost control and governance adherence
- Proactively ensure use of time, of resources, money, materials or equipment is in line with organisational policies and procedures.
- Comply with corporate governance policies, procedures and standards.
- Operate within agreed mandates.
Quality people practices
- Align own behaviour with the organisation culture and values.
- Share and transfer product, process and systems knowledge to colleagues and team members.
- Collaborate and work with the OMI team to deliver required service levels.
- Actively participate in the OMI team to ensure functional balanced scorecard objectives are achieved.
- Ensure achievement of own performance objectives.
- Actively participate in own professional development and career path.
Skills
Closing Date
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Job Description
The Mass and Foundation Cluster (MFC) Actuarial Finance team has an exciting opportunity for a suitably qualified individual to play a key 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.
The role will grant you exposure to the valuations environment where you can develop sound technical knowledge. The successful candidate will provide support for the end to end reporting processes for the MFC Risk and Savings product range. The incumbent will be required to continually support and improve existing methods, models and processes. The role will participate in various projects, including IFRS 17 implementation. The candidate will also provide support to reporting of the results with appropriate analysis and insights to drive decision making within the MFC space.
Key Results Areas
- Financial reporting - Ensure that valuation results are produced accurately, within agreed deadlines (IFRS/FSV, MCEV and SAM reporting). Assist with quantifying the financial impacts of experience investigations
- Capital management – Support for producing capital calculations accurately and on time
- Bonus declarations – Support for producing calculations that can assist the valuations manager in recommending bonus rates
- 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 – Support the owners of Prophet and DCS models
- 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 – Assist in ensuring actuarial processes are efficient and assist in ad-hoc projects when required.
Requirements: Skills, Qualifications and Experience required
- Actuarial student with minimum 7 actuarial exams (exceptional candidates not meeting this requirement may be considered as well)
- Strong technical skills
- Strong detail orientation
- 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
- Interest in financial modelling software
- Ability to plan and prioritise
- Willing to learn and grow
- High level of accountability
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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.
Job Requirements
- Gr12 (Matric)
- FAIS Compliant
- Product category experience 1.3/1.5/1.20
- Previous Managerial experience essential
- Knowledge and exposure to Group Schemes advantageous
- (Internal) Successful completion of MODP
- (External) Managerial qualification - advantageous
- Own Transport
Preference will be given to suitably qualified candidates in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.
Skills
Education
- High School (Grade 12) (Required)
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Job Description
Note: This is not a secretarial / personal assistant role and requires an individual with a relevant postgraduate degree.
This role provides support to the OM Insure Managing Director on key strategic projects and day to day deliverables. The role involves working closely with the MD, the OMI Exco and other key stakeholders both within and outside the broader Old Mutual Insure business. In this role, the Executive Associate will need to investigate and research business and people issues, strategic initatives and developments.
This role provides an 18 to 24 month development opportunity, building perspective of the OMI business.
Following the period as Executive Assistant, the candidate will be well positioned to move into a role within the Old Mutual Limited group, and will be supported in doing so, subject to acceptable performance.
Administration & Support
- Build and acquire a solid understanding of annual business planning and delivery cycles, including processes and outputs, and pro-actively coordinate for the MD.
- Performs administrative duties for the MD, including presentations, minutes and other tasks.
- Manage key OMI events, ensuring appropriate action planning and forward planning.
- Co-ordinates resources to gather information and may prepare first draft of various reports.
- Provide ad-hoc support on specific OMI projects as directed by the MD.
- Synthesize key information, and draft points of view and solutions for the MD, to aide in decision-making.
- Ensures that the MD is equipped with necessary documentation to proceed with meetings.
- Responsible for ensuring relevant matters are included on Exco agendas.
- Required to investigate and respond to various business-issues, client and stakeholder requests, strategic initiatives and developments etc. in a timeous, professional manner.
- Represents the MD on certain ad hoc projects, meetings and events as required.
Relationship Building
- Builds and maintains relationships with executives and senior management in OML and OMI
- High level of contact with external parties, stakeholders and clients as required.
Communication and Engagement
- Prepares reports and presentations for the MD.
- Leads the project management of key events on behalf of the MD.
- Communicating and escalating important issues appropriately.
Personal Effectiveness
- Accountable for service delivery through own efforts.
- Individually accountable for managing own time, tasks, and output quality.
- Makes increased contributions by broadening individual skills.
- Collaborates effectively with others to achieve personal results.
- Accepts and lives the company values.
Minimum Requirements
This role requires a flexible and self-driven person, comfortable with ambiguity and with a very strong can-do attitude. A high level of integrity, maturity and confidentiality is required. The successful candidate should have very strong communication, presentation, numerical and analytical skills are needed.
- An Honors or equivalent post graduate Degree.
- A keen interest in the financial Service industry.
- A minimum of 3 years work experience, preferably in a listed company or multinational corporate environment.
- Experience of working with senior level clients.
- Ability to manage complex and highly confidential information.
- Numerate, with the ability to present and analyse data.
- Excellent command of the English language, both in communication ability and in drafting skills.
- Knowledge of advanced MS office applications, including Word, Excel, PowerPoint and Outlook.
- Excellent social skills, able to operate with diplomacy, tact and empathy.
- A high degree of personal organisation and self-management.
- Comfortable delivering within tight deadlines, which are liable to change at short notice.
Skills
Education
- Honours Degree (Hons) (Required)
Closing Date
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Job Description
We are an African Insurance Giant
- Be a part of our business that is growing its footprint across Africa as well as expanding our actuarial presence in Johannesburg. Old Mutual is an insurance giant in Africa, with life insurance entities currently established in Namibia, Swaziland, Zimbabwe, Ghana, Nigeria, Botswana, Malawi, Kenya and Uganda. Our expanding emerging market footprint includes operations not only in the rest of Africa, but also in Latin America and Asia and represents a vast network of opportunity for innovative, creative and motivated individuals to benefit from while they gather unmatched professional experience on the way to becoming a leader in our business.
Why the Africa Actuarial Services Team?
- In this role, you will work as part of a team tasked with providing actuarial services to the life entities in the Rest of Africa, consolidating and explaining the life financial results for Old Mutual Africa in all aspects of reporting: monthly management reporting, forecasting, business planning, quarterly IFRS and MCEV reporting as well as capital reporting to regulators.
- The team works closely with the Old Mutual Africa Executive team, OMEM central reporting team and in-country Finance Directors and actuarial teams in producing results that drive decision making to help accomplish the Old Mutual Emerging Markets (OMEM) growth strategy. In addition, the team has strong working relationships with the Statutory and Country Actuaries of the various countries.
- We are a vibrant, diverse team, thriving on new ideas and high performance while making a meaningful impact on our customers in Africa. Our team will continue to grow in numbers, playing a key role in further building Old Mutual’s actuarial base in Johannesburg. Our team also continues to provide great opportunities for innovative, creative and motivated individuals to benefit and learn from while they gather unmatched professional experience and exposure to a variety of different countries and cultures on the way to becoming a leader in our business.
Key Result Areas
Financial Reporting
- Ensure that valuation results (IFRS4 profits and Embedded Value) are produced accurately, within agreed deadlines and with appropriate supporting commentary.
- Ownership of the custom-built Prophet models, plus other models, for calculation of liabilities, embedded value and capital in various African countries.
- Presenting quarterly results to management and the Namibian Statutory Actuary.
IFRS 17 project
- Support the team’s production of transition results for the upcoming IFRS 17 implementation.
- Participate in dual reporting as we transition from IFRS4 to IFRS17 reporting.
General
- Ensure that all actuarial processes are performed as efficiently as possible, finding and delivering continuous process improvement and standardisation opportunities as well as ensuring processes are performed with appropriate controls.
Requirements
- Actuarial graduate with a minimum of 9 exam credits (exceptional candidates not meeting this criteria may be considered and appointed at a lower role size)
- At least one-year actuarial experience
- Motivated self-starter
- Takes initiative
- Ability to interact effectively with people at all levels of the organisation
- Ability to complete tasks within agreed timelines with minimal guidance
- Strong technical skills (especially with valuations experience in Prophet)
- Attention to detail
- Excellent people skills
- Ability to work in a team
- High levels of drive, energy, and innovation who are willing to learn and grow
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
Business Planning, Continuous Improvement (CI), Continuous Process, Creativity, Finance, Learning Quickly, Results-Oriented, Taking Initiative, Teamwork
Education
- Bachelors Degree (B): Actuarial Science (Required)
Closing Date
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Job Description
An associate portfolio manager’s key responsibility is to support the portfolio management practice in maintaining client relationships, managing and trading client portfolios, as well as providing administration support functions to the practice. As such the role requires an aptitude for effective and efficient client engagement, investment research, reporting and administration. Accuracy, responsiveness and effective communication are crucial aspects for the immediate success in this role. The successful candidate must also have the desire to grow within the practice in order to establish themselves as a revenue generating partner with the intention of becoming an experienced portfolio manager. Therefore, demonstrating the necessary risk appetite and an entrepreneurial spirit is essential to the long-term success of the associate portfolio manager.
Below is a summary of key aspects of the role.
- Conduct portfolio analysis on existing portfolios.
- Provide proactive portfolio management assistance to the portfolio managers.
- Manage and trade client portfolios, where necessary.
- Contribute to the investment research activities.
- Communicate effectively with clients, investment partners and internal staff.
- Maintain information and presentations required for client portfolio reviews and proposal documents.
- Fulfil administrative tasks as bridge between portfolio manager and client relationship manager (CRM) and other administrative or service personnel as required.
- Serve as back-up to CRM, if required.
A detailed description of your Key Result Areas will be contained in the annual Performance Contract that will be developed with you, and in terms of which your performance will be reviewed on an ongoing basis.
Qualification, Skills and Experience:
- Two years’ experience in the wealth/investment management industry, assisting portfolio managers or fulfilling an investment related role.
- An accredited investment or financial planning qualification is highly recommended.
- Advantageous to be qualified (or near qualified) CFA and/or CFP.
- However, all qualifications satisfying the FAIS requirements for representatives under supervision will be considered.
Skills
Education
Closing Date
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Job Description
This role provides PA support to a senior Manager and is individually accountable for achieving results through own efforts.
- Supports executives and respective teams as agreed.
- Follows standardized processes and provides administrative support in line with normal business functioning.
- Delivers daily production standards and adheres to service and quality standards.
- Responds to immediate requirements within the procedure.
- Uses standard administrative techniques to coordinate own work.
- Resolves technical and complex problems, especially in support of administrative queries/issues.
- Coordination and administration of various events.
- Manages diary, office logistics, travel & meetings
- Takes minutes at meetings.
- Account and invoice management, and payment
- Product and process knowledge in different areas may differ but basic skills remain the same.
- May act as mentor/resource to less experienced Administrators.
- Provides an indirect service to customers and intermediates.
- Maintain headcount and other reports
- Collates data or feedback for reporting purposes
- Assists with the daily reporting
- Ensure that relevant versions of applicable documents are available at the point of use and track changes to documents are filed in MS Teams or required storage application.
- Maintaining confidential records as required.
Requirements
- 3-5 years of experience in a similar role
- MS Teams knowledge and experience required
- Oracle Financials knowledge and experience advantageous
- Excellent MS Office Computer skills, including Outlook, PowerPoint, Word
Skills
- Microsoft Office, Microsoft Teams, Oracle Financial
Education
- Bachelors Degree (B), National Diploma (Nat Dip) (Required)
Closing Date
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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.
What is a Sales Manager?
As an accredited Sales Manager with Old Mutual, you will represent and lead your team with the ideals and values to which the company has subscribed for over 175 years – Integrity, Professionalism, Customer-first, Advice led.
Our purpose is to be our customers’ most trusted lifetime partner, passionate about helping them achieve their lifetime financial goals
What do we need from you?
- Grade 12 (Matric) certificate
- FAIS Compliance RE & 120 Credits (COB & CPD)
- 3 years management experience (External)
- Management Qualification (Advantage, however experience can be considered)
- MODP Qualification (Internal)
- A valid Driver’s licence and your own car
- A clear criminal and credit check
- Proven computer literacy (MS Office suite)
- Excellent communication skills (written and verbal)
Essential Behavioural success factors
- Team working
- Directing people
- Making decisions
- Taking actions
- Developing strategies
- Pursuing goals
- Establishing rapport
- Interpreting Data
- Important Behavioural Success Factors
- Embracing change
- Examining information
- Interacting with people
- Articulating information
- Inviting feedback
- Providing Insights
- Meeting timescales
- Thinking positively
- Upholding standards
- Empowering individuals
- Following procedures
- Exploring possibilities
What we can do for you!
Assist you in reaching your career goals and dreams by helping you grow, develop and build on your future aspirations through quality training and support to reach your potential. We lead with our values, which is at the heart of the great things we do. We champion our customers and employees. We are passionate about diversity and inclusion for mutually positive futures throughout our business clusters – Old Mutual Finance, Retail Mass Market, Old Mutual Invest and Personal Finance. The Group provides many opportunities for growth and development.
Preference will be given to suitably qualified candidates in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.
Skills
Education
- High School (Grade 12) (Required)
Closing Date
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Job Description
The Group Actuarial team is part of the Old Mutual Group Finance division, reporting directly to the Group Chief Financial Officer. The team operates and provides exposure across all the businesses in Old Mutual including the various different jurisdictions.
The team has an opportunity available for a candidate with considerable progress with actuarial examinations, to gain unique experience in the inner workings of a complex financial services group. This role will report to the Capital Reporting Actuary and is responsible for delivering various risk metrics for internal and regulatory reporting as part of a small team of actuarial students.
The role will build networks across the wider Group, which will assist with future career development as part of Old Mutual’s actuarial rotation programme.
Key Result Areas
Reporting – Historical reporting of capital for regulatory submissions (quarterly / half-yearly / annual QRTs) and for external publication (half-yearly OML results booklets and financial statements).
- Production of Credit Risk results.
- Managing the delivery dates and reviewing data supplied.
- Maintaining and improving the tools used in the various processes.
- Producing capital sensitivity results.
- Capital forecasting projections as part of the annual Business Plan process and regular capital allocation updates
- Scenario testing of capital levels under a range of scenarios (for the annual ORSA process as well as ad-hoc when required).
- Earnings At Risk metric production that forms part of the ORSA as well as the business’ governance framework.
- Business support through providing executive team with analysis of impact of proposed balance sheet changes on overall OMLACSA capital (e.g. change of ownership structure, business acquisition / disposal).
- Project support to the Group Finance project team where their deliveries need capital calculations (e.g. Prudential Authority applications).
Qualifications and Experience required:
- Actuarial student with a minimum of 9 exam
- At least 2 years’ actuarial experience
- Finance reporting experience will be highly beneficial
- Strong technical skills in actuarial reserving and analysis of surplus
- 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
- Ability to plan and prioritise
- Willing to learn and grow
- High level of accountability
The incumbent will have an added advantage if he/she has the set skills listed below
- Previous capital reporting experience
- Exposure to group consolidation and accounting reporting process
- Prior experience with process re-engineering
- Please note that the appointments may be made at a lower role size depending on the successful candidates’ experience.
- 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
- Actuarial Science, Attention to Detail, Communication, Financial Analysis and Reporting, Group Consolidations, Management Reporting, Reporting Processes
Education
- Bachelors Degree (B): Actuarial Science (Required)
Closing Date
Method of Application
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