Your time is now to be your exceptional best at Old Mutual!
Join South Africa’s largest actuarial team where your career development is taken seriously and you will experience new and extraordinary aspects of the financial services industry. As South Africa’s Top Employer in the financial services sector, Old Mutual looks forward to welcome you to our team.
This Johannesburg-based role enables the Group Actuarial strategy by:
Managing relationships between various actuarial, finance and risk teams, across Rest of Africa, legal entities and business units) in order to deliver on set objectives.
Planning and delivering actuarial output for the allocated businesses segment(s).
Leading the African Actuarial Services team and being accountable for all their output, including projects involving them. The team comprises approximately 15 actuaries and students.
Controlling processes within the African Actuarial Services team, driving improvement to those processes, and ensuring the execution and where necessary remediation of key controls over these processes, as required.
Duties and responsibilities include:
Business partnering and Relationship Management
Responsible for partnering with the Head of the Life line of business to drive performance improvement across the portfolio drawing on insights developed from the valuation process and outcome
Responsible for managing the relationships between the African Actuarial Services team and key clients, in the Rest of Africa segment (CFO, finance teams), various life entities covered by the team (entity CFO, Chief Actuary, etc.) and at group (Planning and business insights, Balance sheet management, etc.).
Responsible for managing the relationships between the African Actuarial Services team and other segment and group actuarial and finance teams, as needed to facilitate delivery.
Planning and Co-ordinating
Responsible for the co-ordination of the deliveries across the actuarial function, in the areas of financial, regulatory and management reporting, as well as delivery on projects affecting these deliveries.
Member of the group’s actuarial management team and other relevant forums, collectively driving the prioritization of actuarial finance and actuarial reporting across the group.
Valuation and Financial Reporting (including Capital Requirements)
Responsible for accuracy and quality of the consolidated financial reporting results, including IFRS / FSV / EV / SAM / internal risk metrics / etc. for submission to the Central Actuarial team, segment finance and entity Chief Actuaries, as appropriate.
Accountable for compliance with agreed policy / methodology / principles, professional guidance and legislation.
Proactively provides analysis of results and recommends appropriate action back to business segment and other stakeholders.
Responsible for accuracy and completeness of the actuarial portions of regulatory reporting (SAM reporting feeding into SAM Group reporting or in-country regulatory reporting, where required).
Responsible for the development and maintenance of actuarial models.
Business Planning, Forecasts and Monthly reporting
Oversees the provision of actuarial input to the segment teams or Group Planning and Business Insights, for the purposes of consolidated business plans and forecasts.
Oversees the production of accurate consolidated monthly reporting for actuarial metrics including detailed analysis of results and recommendations as appropriate.
Process Ownership and Key Controls
Responsible for continuous improvement of actuarial processes and the quality of information produced, in liaison with colleagues from the segments.
Responsible for the sign off of periodic, internal confirmations on the effectiveness of key controls.
Accountable for the operation of key controls relevant to the generation of actuarial information reported by the segment and to the financial controller.
Management and Leadership
Manages a team of approximately 15 actuarial staff, to ensure effective delivery and performance.
Play a key part in influencing the group’s actuarial reporting strategy.
Make a significant leadership contribution to managing actuarial finance and reporting across the group.
Qualified Actuary, with a minimum of 8 years actuarial experience, of which at least 4 years should be post-qualification
Previous technical (IFRS, FSV,MCEV and Solvency II/SAM) and/or cross-functional co-ordination and/or Client Relationship Management experience would be a strong advantage.
Experience leading a team.
Skills and Experience
Fellow Of Actuarial Society Of South Africa (FASSA)