Thursday , April 25 2024

Old Mutual Recruitment – Cell Captive Actuarial Specialist

Website Old Mutual

Job Description:

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 Alternative Risk Transfer Limited (OMART) is looking for a suitably qualified individual for a role as a Cell Captive Actuarial Specialist. This Johannesburg based position within OMART, offers you the opportunity to form part of the actuarial team of a diverse, growing business that enables innovation in Insurance through Old Mutual and InsureTech companies.

OMART is a dynamic life insurance company which forms part of the Corporate Segment Business Unit, and regularly interacts with various specialist areas within Old Mutual, both within and outside this business unit.

Being a separately managed company with various internal and external clients, the successful candidate will play an important role in the reporting requirements, product & pricing approvals and governance framework of OMART and its clients. This role presents the opportunity to interact with a variety of internal and external stakeholders, get a full overview of running a life insurance company while driving innovation and transformation of the South African life insurance market.

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Job Responsibilities:

  • 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
  • Liaising with stakeholders within OMART, including the OMART MD
  • Liaising with stakeholders within the Old Mutual group, such as OMART’s Head of Actuarial function and data administrators
  • Liaising with external stakeholders such as cell captive clients and reinsurers
  • 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:

  • Actuarial student making good progress towards qualification – at least 9 actuarial exam credits.
  • A minimum of 2 years’ actuarial experience
  • IFRS or Regulatory Solvency valuations experience will be a distinct advantage
  • 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)
  • Prophet and/or DCS skills
  • Programming skills (Visual Basic, Python)
  • IFRS17 Experience
  • Cell Captive Experience

Job Details:

Company: Old Mutual

Vacancy Type:  Full Time

Job Location: Pinelands

Application Deadline: N/A

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