Assistant Actuarial Manager : 2Nd Line

Old Mutual Insure; Johannesburg; On-site; ZAR 450,000 - 650,000; Full time

Job summary

A leading company in the insurance sector seeks an Actuarial Professional. You will be instrumental in overseeing compliance and soundness of insurance products while leveraging your actuarial expertise. The ideal candidate will have substantial experience in reserving and regulatory frameworks, ready to contribute to strategic decision-making.

Qualifications

• General Insurance essential.
• Significant progress with actuarial exams.
• At least 4+ years in reserving and capital modelling.

Responsibilities

• Perform second-line reviews and oversight support to Head of Actuarial.
• Advise on long-term solvency and actuarial soundness of products.
• Review IFRS 17 and SAM technical provisions.

Skills

Communication

Actuarial analysis

Regulatory compliance

Education

Actuarial exams progress

Relevant actuarial degree

Job description

Are you an Actuarial Professional with advanced exams and experience in Reserving, IFRS 17 and SAM? We're interested in discussing your next career move. This role will be sitting in our Actuarial Control Function pillar.

Your responsibilities will include the following:

Perform second-line reviews and oversight support to the Head of Actuarial Function on the following:

• Reliability and adequacy of the regulatory (SAM) technical provisions
• Solvency calculations results review
• IFRS 17 Reviews
• Adequacy of the reinsurance and other risk transfer arrangements
• Advise on the long-term solvency of the companies in the Group, utilising possible scenarios; etc.
• The actuarial soundness of product development and design, including the terms and conditions of insurance contracts and pricing, and the estimations of the capital required to underwrite the product where required
• Provide insight into the underwriting performance of the business

Requirements:

• General Insurance is essential
• Significant progress with actuarial exams (F100’s will be advantageous)
• At least 4+ years of experience in short term reserving and capital modelling
• SAM and IFRS 17 knowledge required
• Excellent communication skills
• 4-7 years of experience

The Recruitment Process:

• TA Interview: This will be a discussion with our Talent Acquisition Senior Specialist to give you an understanding of our business, our culture & values and more context on the role. It will also allow us the opportunity to get to know you more and ensure OMI can meet your career aspirations.
• Panel Interview: This will be with 2 members of the Senior Leadership of the Hiring Team and 1 member of the HC Leadership Team.
• Technical & Psychometric Assessments: These will depend on the role and will sometimes happen concurrently with Vetting through an external service provider & Internal Verification.
• Final Feedback.

All About OMI:

https://www.oldmutual.co.za/about/old-mutual-insure/

https://www.linkedin.com/posts/old-mutual-insure_i-work-at-old-mutual-insure-of-course-activity-7161674472469524483-w0j6?utm_source=share&utm_medium=member_desktop

Please note that, unfortunately, we cannot accept any applications after the closing date