Group Capital Specialist

Old Mutual Life Assurance Company (SA) Ltd; Johannesburg; On-site; ZAR 1,200,000 - 2,100,000; Full time

Job summary

Old Mutual Life Assurance Company (SA) Ltd in Johannesburg is seeking a senior Treasury and Capital professional to help manage group capital and liquidity, forecast surplus capital, and support funding strategies across the group.

You will partner with Finance, Risk, and Actuarial teams to deliver strategic insights, perform balance sheet optimisation, and contribute to regulatory reporting and governance. The role reports to Senior Group Treasury Manager and requires strong modelling skills.

Qualifications

• Postgraduate qualification in Finance, Accounting, Banking, or Actuarial Science; CA(SA), FASSA, CFA advantageous.
• Minimum 6 years’ experience in balance sheet management, treasury, or capital management within insurance or financial services.
• Strong technical knowledge of solvency, capital, and liquidity frameworks; regulatory capital reporting.
• Proven experience in surplus capital reporting, liquidity management, funding operations, and debt programme execution.
• Experience with credit rating agency management and capital market transactions. Advanced analytical and financial modelling capability.

Responsibilities

• Support the design, maintenance, and execution of Group capital and liquidity management frameworks across Group entities and holding companies.
• Contribute to capital forecasting, dividend capacity analysis, and capital deployment assessments.
• Assist with capital and liquidity planning, stress testing, and scenario analysis in line with internal risk appetite and regulatory constraints.
• Analyse capital, solvency, and liquidity trends, highlighting emerging risks and optimisation opportunities.
• Support the preparation of inputs into Group Capital and Funding Plans.

Skills

Strategic Thinking

Financial Acumen

Execution Excellence

Collaboration

Innovation

Influence & Impact

Customer Focus

Personal Mastery

Education

Honours Degree (Hons)

Masters Degree (M)

Postgraduate qualification in Finance/Accounting/Banking/Actuarial Science

Job description

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

The Capital and Liquidity Management Team, within Treasury and Financial Markets, plays a strategic role in managing the Group’s capital and liquidity position to support shareholder value creation and financial resilience. This high-performing, analytically-focused team partners with senior stakeholders across Finance, Risk, and Actuarial to optimise capital management and deployment, capital and liquidity planning, and funding strategies across Old Mutual Limited. The role offers exposure to all aspects of corporate treasury and capital management, including surplus capital forecasting and deployment, liquidity and solvency modelling, managing financial leverage, credit rating agency management, regulatory capital reporting and balance sheet optimisation projects across the group and OM Bank. It is well suited to an individual who thrives in a dynamic environment, combining strategic insight with technical depth. The position reports to the Senior Group Treasury Manager.

Key Result Areas

• Support the design, maintenance, and execution of Group capital and liquidity management frameworks across Group entities and holding companies.
• Contribute to capital forecasting, dividend capacity analysis, and capital deployment assessments.
• Assist with capital and liquidity planning, stress testing, and scenario analysis in line with internal risk appetite and regulatory constraints.
• Analyse capital, solvency, and liquidity trends, highlighting emerging risks and optimisation opportunities.
• Support the preparation of inputs into Group Capital and Funding Plans.

Treasury Operations and Funding

• Manage intragroup funding requirements and ensure efficient liquidity allocation across entities.
• Support the Group’s Debt Capital Markets programme, including issuance, refinancing, and investor engagement.
• Oversee dividend execution and explore optimisation opportunities across insurance subsidiaries and the Group.
• Manage cash and treasury share positions, including share purchases for employee schemes and monitoring of the share buyback programme.
• Maintain appropriate governance and controls across treasury operations and cash flow management.

Strategic Projects, Balance Sheet Optimisation & Governance

• Participate in and support balance sheet optimisation initiatives across Group businesses, including capital structure reviews, funding efficiency projects, and evaluation of corporate actions (e.g. dividends, capital injections, restructuring) from a capital and liquidity perspective.
• Provide analytical input into investment business cases and strategic initiatives with balance sheet implications, identifying and assessing opportunities to enhance capital efficiency and liquidity resilience.
• Partner with key stakeholders across Group Finance, Risk, and Actuarial to support capital strategy and policy execution.
• Coordinate and support the external credit rating process, ensuring accurate, timely, and effective communication of the Group’s financial position.
• Engage with auditors, regulators, and other external stakeholders on capital, liquidity, and debt-related matters.
• Participate in and support governance forums, including preparation of analysis and reporting to relevant management and Board committees.

Financial Modelling and Insight

• Develop and maintain financial, solvency and liquidity models to forecast solvency, funding, and dividend capacity.
• Perform scenario and sensitivity analyses to assess capital adequacy and liquidity under various market conditions.
• Present actionable insights to senior management to inform capital and funding decisions.

Governance, Reporting, and Continuous Improvement

• Prepare and present high-quality Treasury and Capital reports for the Board, Exco, and subcommittees.
• Ensure adherence to governance frameworks, internal policies, and external regulations.
• Identify opportunities to automate and streamline Treasury reporting and liquidity processes.
• Contribute to ongoing initiatives focused on capital and liquidity optimisation across the Group.

Qualifications and Experience Required

Relevant postgraduate qualification in Finance, Accounting, Banking, or Actuarial Science. Additional professional qualification (e.g., CA(SA), FASSA, CFA) is advantageous. Minimum 6 years’ experience in balance sheet management, treasury, or capital management within insurance or financial services. Strong technical knowledge of solvency, capital, and liquidity frameworks. Proficient with financial services regulations, with thorough knowledge of Prudential Standards for Insurers and Insurance Groups and Basel being advantageous. Proven experience in surplus capital reporting, liquidity management, funding operations, and debt programme execution. Experience with credit rating agency management and capital market transactions. Advanced analytical and financial modelling capability, with sound business judgment. Strong interpersonal and communication skills, able to engage effectively with senior stakeholders. Pragmatic, commercially astute, and solutions-focused with attention to detail.

Competencies

• Strategic Thinking – Aligns capital and liquidity decisions with shareholder and business priorities.
• Financial Acumen – Deep understanding of treasury, funding, and capital management frameworks.
• Execution Excellence – Delivers quality outputs and meets commitments under pressure.
• Collaboration – Builds strong relationships across Group Finance, Risk, and Actuarial teams.
• Innovation – Seeks efficiency through automation and improved reporting processes.
• Influence and Impact – Communicates analytical insights clearly and persuasively.
• Customer Focus – Balances business needs with sustainable, risk-conscious outcomes.
• Personal Mastery – Demonstrates accountability, resilience, and continuous learning.

Skills

Accounting, Action Planning, Budget Management, Computer Literacy, Database Reporting, Data Classification, Data Compilation, Data Controls, Data Modeling, Evaluating Information, Legal Practices, Management Reporting, Numerical Aptitude, Oral Communications, Report Review Competencies Builds Networks Business Insight Drives Results Ensures Accountability Financial Acumen Manages Complexity Optimizes Work Processes Organizational Savvy Education Honours Degree (Hons) (Required), Masters Degree (M) (Required)

Closing Date

23 October 2026 , 23:59

The Old Mutual Story! Old Mutual is a premium African financial services organisation that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 14 countries. The lines of business include Life and Savings, Property and Casualty, Asset Management and Banking and Lending. We are rooted in our purpose of Championing Mutually Positive Futures Every Day and believe that a great customer experience is anchored in a great employee experience.