Junior Actuarial Analyst - Life Business

<p style="text-align:left"><span class="emphasis-2"><b>Lets Write Africa&#39;s Story Together!</b> </span></p><p style="text-align:left"><span class="emphasis-2">Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.</span></p><p style="text-align:inherit"></p><p style="text-align:inherit"></p><p style="text-align:inherit"></p><p style="text-align:left"><b>Job Description</b></p><p style="text-align:inherit"></p><p style="text-align:inherit"></p>Supports the Life actuarial function in delivering accurate valuations, IFRS 17 and solvency reporting, actuarial analysis and financial modelling, while providing technical insight to support management decisions, regulatory requirements and effective management of the Life business.<p style="text-align:inherit"></p><p style="text-align:inherit"></p><h2><b>1 KEY TASKS AND RESPONSIBILITIES</b></h2><br /><ul><li><span style="color:#333333"><b>Technical Actuarial Support: </b>Assist with conducting and reviewing internal actuarial liability valuations for relevant insurance subsidiaries, IFRS 17 valuations, analysis of profitability/surplus, and calculation and analysis of embedded value using Prophet and MS Excel for OM Life entities</span></li><li><span style="color:#333333"><b>Experience Investigations: </b>Assist with profitability analysis, experience analysis and other relevant actuarial investigations to inform business decisions</span></li><li><span style="color:#333333"><b>Solvency and Capital Management: </b>Assist with solvency computations for the entity on a risk-based capital basis, including solvency stress tests</span></li><li><span style="color:#333333"><b>Financial Modelling: </b>Assist with financial modelling of business scenarios/projects to inform business decision-making</span></li><li><span style="color:#333333"><b>System Support: </b>Assist with management of the Life Systems – Prophet, Thought Express, OIPA, etc</span></li><li><span style="color:#333333"><b>Business Planning Support: </b>Assist with business planning financial projections and solvency projections for the life entities. Perform stress and scenario analysis on the plan numbers</span></li><li><span style="color:#333333"><b>Reinsurance Support: </b>Support with carrying out reinsurance analyses and reinsurance optimisation</span></li><li><span style="color:#333333"><b>Reporting and Documentation: </b>Present results and reports to businesses and subsidiary board committees. Prepare Board papers and regulatory solvency and valuation reports</span></li><li><span style="color:#333333"><b>Risk Management Support: </b>Assist the Business Units and Risk Department in identifying and quantifying risk, including insurance, market and credit risks, where appropriate</span></li><li><span style="color:#333333"><b>Investment Strategy Support: </b>Develop/formulate appropriate investment strategies and/or review and monitor investment strategies including Unit Pricing support and BSA management</span></li><li><span style="color:#333333"><b>Other Reasonable Duties: </b>Perform other reasonable duties that may be assigned by supervisors/management</span></li></ul><br /><h2><b>2. SKILLS AND COMPETENCIES</b></h2><br /><ul><li><span style="color:#333333">Analytical skills</span></li><li><span style="color:#333333">Data handling knowledge</span></li><li><span style="color:#333333">Business awareness</span></li><li><span style="color:#333333">Problem-solving skills</span></li><li><span style="color:#333333">Communication and presentation skills</span></li><li><span style="color:#333333">Ability to prioritise and work on a wide range of deliverables at once</span></li><li><span style="color:#333333">Ability to work under minimal supervision</span></li><li><span style="color:#333333">Good interpersonal skills</span></li><li><span style="color:#333333">Proficiency in Microsoft Office packages</span></li></ul><br /><h2><b>3. KNOWLEDGE &amp; EXPERIENCE</b></h2><br /><ul><li><span style="color:#333333">Strong actuarial technical skills</span></li><li><span style="color:#333333">Knowledge of Prophet software or other reserving software</span></li><li><span style="color:#333333">Strong analytical skills</span></li><li><span style="color:#333333">Strong data programming skills</span></li><li><span style="color:#333333">Foundational knowledge of the current insurance regulations, capital markets and other relevant guidelines</span></li></ul><br /><h2><b>4. QUALIFICATIONS</b></h2><br /><ul><li><span style="color:#333333">Bachelor of Actuarial Science</span></li><li><span style="color:#333333">Minimum 2-5 years of relevant technical experience</span></li><li><span style="color:#333333">Actuarial knowledge, demonstrated through progress with actuarial examinations</span></li></ul><br /><h2><b>5. ANTI-MONEY LAUNDERING (AML) EXPECTATION</b></h2><br /><p><span style="color:#333333">The incumbent will be responsible for ensuring adherence to, implementation of and adoption of Compliance, Anti-Money Laundering (AML) and Sanctions-related policies, procedures and process requirements within Old Mutual and its subsidiaries. This includes execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality. Additionally, the role involves identifying and monitoring potential AML, Sanctions or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action.</span></p><p style="text-align:inherit"></p><p style="text-align:inherit"></p><p> </p><p style="text-align:inherit"></p><p style="text-align:left"><b>Skills</b></p><p style="text-align:inherit"></p><p style="text-align:inherit"></p>Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Numerical Aptitude, Risk Management<p style="text-align:inherit"></p><p style="text-align:inherit"></p><p style="text-align:left"><b>Competencies</b></p><p style="text-align:inherit"></p><p style="text-align:inherit"></p>Action Oriented<h3></h3><h3></h3>Balances Stakeholders<h3></h3><h3></h3>Builds Networks<h3></h3><h3></h3>Collaborates<h3></h3><h3></h3>Communicates Effectively<h3></h3><h3></h3>Cultivates Innovation<h3></h3><h3></h3>Ensures Accountability<h3></h3><h3></h3>Financial Acumen<p style="text-align:inherit"></p><p style="text-align:inherit"></p><p style="text-align:inherit"></p><p style="text-align:left"><b>Education</b></p><p style="text-align:inherit"></p><p style="text-align:inherit"></p>NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent<p style="text-align:inherit"></p><p style="text-align:inherit"></p><p style="text-align:inherit"></p><p style="text-align:left"><b>Closing Date</b></p><p style="text-align:inherit"></p><p style="text-align:inherit"></p>22 October 2026 , 23:59<p style="text-align:inherit"></p><p style="text-align:inherit"></p><p style="text-align:left"><span class="emphasis-2"><i><b>The Old Mutual Story!</b></i></span></p>