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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 opportunities available for candidates with considerable progress with actuarial examinations or recently qualified, to gain unique experience in the inner workings of a complex financial services group. The position will report to the Capital Reporting Actuary and be responsible for delivering Old Mutual’s regulatory capital and other risk metric reporting as part of a small team of actuarial professionals.

The role will build networks across the wider Group and exposure to present to Group Executives, which will assist with future career development.

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)

Ensuring appropriate advance instructions are sent to suppliers of information (e.g. OML entities)

Managing the delivery dates and reviewing data supplied

Reviewing the team’s consolidated results

Ensuring controls are appropriately performed, and evidence retained

Maintaining and improving the tools used in the various processes

Capital forecasting projections as part of the annual Business Plan process and regular capital allocation updates

Scenario and sensitivity testing of capital levels under a range of scenarios (for the annual ORSA process as well as ad-hoc when required)

Product support through calculating the impact of new products / product changes on overall OMLACSA / OML capital

Business support through providing executive team with analysis of impact of proposed balance sheet changes on overall OMLACSA / OML 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

Considerable progress with actuarial examinations

At least 4 - 6 years’ actuarial experience (with financial / capital reporting experience)

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

Competencies

Customer First

Execution

Collaboration

Leading with Influence

Personal Mastery

Innovation

Strategic

Please note that the appointments may be made at a lower role size depending on the successful candidates’ experience.

Skills

Education

Bachelor of Science (BSc): Actuarial Science (Required)

Closing Date

01 December 2024

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.

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