Job Description
We are looking for a Qualified Actuary to head up the Actuarial Control Function under SAM in a multi-channel / multi-product business to enable a sound risk environment. You will provide leadership and strategic direction to the Actuarial Job Family and be a member of the Old Mutual Insure Executive Committee.
You will be accountable for the design, development and leadership of an actuarial assurance framework in a multi-channel / multi-product business to enable data-driven, strategic decision-making of complex business issues related to the financial sustainability of the organisation. This role extends to all Old Mutual Insure businesses as well as certain aspects of the general insurance businesses of Old Mutual Africa Regions.
Job Objective
- Ensure the long-term financial viability of the organisation by using advanced modelling techniques to guide strategic business decisions to diversifying revenue streams, strengthening reinsurance efforts and new product developments.
- Approve all new products and amendments to products.
- Ensure that the interests of customers are looked after.
- Ensure that the company’s capital requirements are appropriately calculated.
- Approve dividend calculations.
- Ensure that actuarial content published in the group’s interim and year-end financial results and annual financial statements are appropriately calculated, presented and explained.
- Persuade front-line management and risk owners to participate actively in the measurement, control and mitigation of risks, educating the business on the benefits of actuarial risk management.
- Convey complex financial information to the Board, senior management and key stakeholders and promote a positive risk culture throughout the organisation to drive shareholder value.
- Represent the organisation on both the local and international bodies to engage in complex industry situations.
Minimum Requirements
- Qualified Actuary
- General Insurance Practicing Certificate
- At least 10 years post-qualification experience in short-term insurance, including:
- Reserving (IFRS, SAM)
- Capital modelling; reserving
- Reinsurance
- Pricing
- Product development
- Experience reporting into Boards and executive management
- Ability to manage ambiguity and change
- Proven leadership ability
- Excellent written and verbal communication skills, including report-writing skills.
- Ability to build constructive working relationships
- Ability to drive implementation of new policies
- Time management and balancing of multiple responsibilities, with efficient delivery to deadlines.
The Recruitment Process
- TA Interview: This will be a discussion with a member of the TA Team to give you an understanding of our business, our culture & values and more context on the role.
- Panel Interview: This will be with members of the Leadership Team.
- Technical & Psychometric Assessments: These will depend on the role and will sometimes happen concurrently with MIE & Internal Verification.
- Final Feedback.
Please note that no applications will be considered after midnight on the 7th November 2024.
Skills
- Business
- Executive Leadership
- Executive Relationship Management
- General Insurance
- People Management
- Strategic Business Units
- Strategic Decisions
Education
- BSc Mathematics Sciences: Actuarial Science (Required)
- Fellow Of Actuarial Society Of South Africa (FASSA): Actuarial Science (Required)
Closing Date
08 November 2024
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.
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.
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