Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

na

Role overview

The Actuarial Value Management team is responsible for the Pricing, Reinsurance and Experience Investigations of new and existing retail protection propositions across the Retail Mass and Retail Affluent Segments in South Africa. Product Development and Pricing support is also provided to our Africa Regions businesses.

The Actuarial Value Management team has an exciting opportunity for an Intermediate Actuarial Specialist. The key focus areas of the role will be to provide support on developing and pricing of the retail protection products in the Old Mutual Africa Regions (“OMAR”) i.e. all other African countries where Old Mutual operates. The role will include partnering with stakeholders in-country, as well as in the central supporting functions, to ensure sound retail protection solutions are developed.

This role will offer exposure to business cases, product design, pricing and experience investigations work, within a range of product types including Death, Disability, Critical Illness and Funeral. The candidate will also be expected to work in cross-functional teams, and engage with senior stakeholders across IT, Legal, Sales, Finance and Operations as part of the projects they will be a part of, as well as general consultative support.

The breadth of work will provide an excellent platform to grow both technical and interpersonal skills.

Key Result Areas

Product Development and Pricing:

Complete/Review of business casesComplete/Review the Product Design specificationComplete/Review the Pricing & Profitability specificationDevelop/Adapt/Review of pricing models supporting the Pricing & Profitability specification documentsReview of Customer facing Literature that may be developed as part of the solutionsImplementation support of new developmentsEngagement with stakeholders in providing consultative support and expertiseProduct management of specific product linesMonitoring and Analytics including experience investigationsWork with the South Africa business on specific deliveries and general product support as neededSupport the risk management capability and infrastructures in-place with respect to any risks which may arise.

Reinsurance:

Assisting management with reinsurance optimisation strategies; andAd-hoc reinsurance modellingRegular monitoring and assessing of reinsurance structuresEngaging with IT for the successful implementation of reinsurance structures and processes on the administration systemSupporting contractual work related to reinsurance

Skills, Qualifications and Experience required

Actuarial student progressing well with Actuarial Exam Credits (recent graduate or less than 2 years’ work experience)Actuarial work experience would an advantageIFRS 17 knowledge would be an added advantageKnowledge of the customer needs met by retail protection productsProficient in Microsoft Office 365 apps (Advanced use of Excel and VBA are a must, while any Coding/Access/SQL/R/Prophet experience would be an added advantage)Good interpersonal and communication skillsAbility to work independently, as well as in a teamAbility to work on a wide range of deliverables over a given period of timeGood time management to work towards deadlines

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

Education

Bachelors Degree in Actuarial Science (Required)

Competencies

InnovationLeading with influenceCollaborationCustomer firstExecutionPersonal Mastery

Skills

Competencies

Action Oriented

Balances Stakeholders

Builds Networks

Business Insight

Collaborates

Communicates Effectively

Cultivates Innovation

Decision Quality

Education

Bachelors Degree (B) (Required)

Closing Date

23 January 2025 , 23:59

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.

Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.

All prospective employees are required to disclose their vaccination status as part of the recruitment process.

Please refer to the Old Mutual’s Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.

The Old Mutual Story!