• Job Description

  Req#: JR-43039

  Your time is now to be your exceptional best at Old Mutual!

  Job Description

  This Johannesburg-based role reports into the OMAR CFO, works very closely with the other Finance Actuary in the management team and enables the Group Actuarial and OMAR strategy by:

  • Managing relationships between various actuarial, finance and risk teams, across allocated Rest of Africa markets, legal entities and business units in order to deliver on set objectives.
  • Planning and delivering actuarial output for the allocated businesses / segment(s).

  • A member of the Leadership team that manages the African Actuarial Services team and being accountable for all their output, including projects involving them. The Old Mutual Africa Regions team comprises approximately 30 actuaries and students, which are shared between two OMAR Finance Actuaries.
  • Control 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 allocated 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 Board 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 / EV / Regulatory / internal risk metrics / etc. for submission to the OML Group 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 (regulatory reporting feeding into OML Group regulatory 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 20 actuarial staff, to ensure effective delivery and performance.
  • Play a key part in influencing the OML Group’s actuarial reporting strategy.
  • Make a significant leadership contribution to managing actuarial finance and reporting across the group.

  Requirements:

  • Qualified Actuary, with a minimum of 8 years actuarial experience, of which at least 4 years should be post-qualification.
  • Previous technical (IFRS, MCEV and Solvency II/SA Regulatory reporting) and/or cross-functional co-ordination and/or Client Relationship Management experience would be a strong advantage.
  • Experience leading a team.

  Skills

  Actuarial Management, Business Partnerships, Business Planning, Consolidated Financial Statements, Financial Analysis and Reporting, International Financial Reporting Standards (IFRS), Leadership, Management Reporting, Monthly Reporting, People Management, Regulatory Reporting

  Education

  Fellow Of Actuarial Society Of South Africa (FASSA) (Required)

  Closing Date

  28 September 2023

  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.

• About the company

  Old Mutual Limited is a pan-African investment, savings, insurance, and banking group.

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