Actuarial Business Partner - Life and Asset Management

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

This position falls into the Old Mutual Africa Regions Segment within Old Mutual and is primarily responsible for:

1. Proactively providing analysis of results and recommending appropriate actions to senior management, ensuring implementation where appropriate.
2. Identifying opportunities to improve profitability and making recommendations to senior management, ensuring implementation where appropriate.
3. Partnering with Product / Development Actuaries to ensure that new and existing products are financially sound and profitable.

The role involves examining and summarizing statistical data by applying mathematical and statistical knowledge to areas such as unpaid claim liability, trend analysis, rate formulas, forecasting, and premium analysis. Responsibilities also include preparing annual statements, calculating tax-related issues, and drafting business coverage forms. Relevant roles mapped to this profile include Specialist Actuary, Specialist Actuary (OMAO), Actuarial: Corporate, Consultant: Actuarial, Consulting Actuary, and Product Marketing Actuary.

Responsibilities

• Actuarial Analysis, Assumptions, and Insights: Manage the creation and presentation of complex actuarial analyses, assumptions, insights, and management reports, providing guidance in complex or ambiguous situations to support business decisions and performance evaluation. Perform complex statistical analyses to enable data-driven insights.
• Actuarial Financial Reporting: Manage the production of statutory and non-statutory actuarial financial information, reports, and disclosures related to specific product lines, legal entities, or market segments.
• Actuarial Model Creation and Maintenance: Develop and maintain actuarial models for significant product lines, ensuring integration with wider business models for analysis, reporting, and compliance.
• Actuarial Product Development & Management: Develop proposals for new or improved products that create competitive advantage, align with organizational risk appetite and financial goals, and meet regulatory standards.
• Organizational Risk Management: Manage key aspects of the organization's risk, financial management, and control processes.
• Actuarial Calculation of Funding Requirements: Evaluate funding contributions, such as for complex employee benefit schemes, and recommend future funding levels.
• Compliance: Monitor and review performance to ensure compliance with organizational policies and regulatory standards.
• Improvement/Innovation: Identify shortcomings in current practices and implement improvements through projects or change initiatives.

Skills

Analytical Thinking, Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Market Analysis, Numerical Aptitude, Risk Management

Competencies

Business Insight, Collaboration, Effective Communication, Accountability, Financial Acumen, Trust Building, Managing Complexity, Process Optimization

Education

Master's Degree in Actuarial Science

Closing Date

07 May 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.

The Old Mutual Story!