Senior Actuarial Specialist

Old Mutual South Africa; Cape Town; On-site; ZAR 650,000 - 850,000; Full time

Job summary

Old Mutual South Africa invites an actuarial-focused professional to join the Mass and Foundation Actuarial Finance team. You will oversee MF Risk reporting, improve valuation methods, and contribute to IFRS/SAM/Embedded Value reporting with insights to inform decisions.

The role includes capital management support and forecasting aligned with the group strategy. The position requires 4+ years of experience, actuarial exam progress, strong technical skills, and a proactive mindset with attention

Qualifications

• Actuarial student progressing with exams.
• At least 4 years of relevant work experience.
• Interest in financial modelling software.

Responsibilities

• Oversee end-to-end MF Risk reporting and improve methods and processes.
• Produce IFRS, SAM and Embedded Value reporting with analysis.
• Support capital calculations and forecasting for the MF portfolio.
• Own Prophet and DCS models used in valuations.

Skills

Actuarial exams

Technical skills

Communication skills

Proactive

Forecasting

Education

NQF Level 7 degree or equivalent

Tools

Prophet

DCS models

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 role will grant you exposure to the valuations environment where you can develop sound technical knowledge. The successful candidate will be presented with the following opportunities and responsibilities:

• Overseeing the end-to-end reporting processes for the MF Risk product range. The incumbent will be required to continually review and improve existing methods, models and processes. The role will participate in various projects, relating to enhancing valuation methods and basis. The candidate will also own and deliver the reporting of the results with appropriate analysis and insights to drive decision making within the MF space.
• Financial reporting - Ensure that valuation results are produced accurately, within agreed deadlines and with appropriate supporting commentary. This will also provide the opportunity to present results to the Finance Actuary and complete a formal valuation report. The reporting will include IFRS, SAM and Embedded Value reporting at product portfolio level).
• Capital management - Support for producing capital (incl SCR) calculations accurately and on time for the product portfolio
• Business planning / forecasting - Support the team that provides forecasting and ongoing monitoring (outside of valuation periods) of the financial impacts of the OML strategy (by providing the necessary technical calculations)
• Investigations - Undertake investigations (on behalf of Business Partner, Finance Actuary and Actuarial Manager) as will be delegated to you
• Models - Ownership of Prophet and DCS models used in valuations

• Continuous improvements - Enhancements of models and processes that produce IFRS/FSV, MCEV and SAM reporting
• General - Ensure that all actuarial processes are performed as efficiently as possible and are compliant with the current risk control environment.

Qualifications, Skills and Experience

• Actuarial student making good progress with actuarial exams
• At least 4 years of relevant work experience.
• Strong technical skills
• Strong detail orientation coupled with the ability to see the "big picture"
• Excellent communication skills (both written and verbal)
• Motivated self-starter who shows initiative, is proactive, looks for ways to improve
• Able to complete tasks within agreed timelines and drive projects to completion with minimal guidance
• Interest in financial modelling software
• Ability to plan and prioritize
• Willing to learn and grow
• High level of accountability

The following would also be advantageous

• Knowledge of the MF environment, products and systems
• Valuation experience
• Prophet and DCS models experience

** Please note that the appointment may be made at a lower role size depending on the successful candidates' experience and exam progress **

The Mass and Foundation (MF) Actuarial Finance team has an exciting opportunity for a suitably qualified individual to play a key role in the valuation space. The team is responsible for financial reporting (IFRS, MCEV and SAM), maintaining (coding and peer review) of Prophet and DCS models, and supporting robust forecasting, business planning and monthly reporting for the segment

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

Balances Stakeholders

Builds Networks

Business Insight

Collaborates

Communicates Effectively

Cultivates Innovation

Decision Quality

Drives Results

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

30 August 2026 , 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!