Intermediate Actuarial Specialist

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Job Description

Old Mutual Wealth (OMW) is looking for a suitably qualified individual for a role as an Intermediate Actuarial Specialist. This position is well suited for an individual who has strong analytical skills, good communication skills and the ability to interact effectively with people at various levels in the organization. The role offers the incumbent the opportunity to form part of a diverse actuarial team of a growing business.

There will be a strong focus on technical actuarial work, often using complex systems and packages. Part of key focus areas help drive model improvements for OMW’s IFRS17 reporting. This involves use of your Prophet modelling expertise, knowledge of IFRS17 and collaborating with other Old Mutual business units to develop and embed solutions that answer valuation, business planning, forecasting and other analytical processes.

Key Result Areas / Outputs

Valuation and Financial Reporting (including Capital Requirements)

• Responsible for ensuring model accuracy and quality of results which assists Wealth with the consolidated financial reporting results for submission to the OML Group Actuarial Reporting team and Wealth teams, as appropriate, with a specific focus on IFRS17 and Analysis of Surplus (AOS) processes
• Responsible for the development and maintenance of actuarial models.
• Performs necessary checks on modelling outcomes and ensures procedures are in place to deliver accurate actuarial results.
• Ability to check, manipulate and analyze volumes of data and draws conclusions from models.
• Accountable for compliance with agreed policy and methodology as well as professional guidance and legislation.

Process efficiency and automation

• Assist in ensuring processes are efficient, robust and fit for purpose.
• Assist in ensuring that the control environment is adequate and effective.
• n Assist with automation initiatives to improve existing reporting process efficiencies.

Ad-hoc projects

• Support the delivery of relevant projects, as and when these arise. These include (but not limited to) specific business analyses

Qualifications, Skills and Experience:

• An actuarial student with a minimum of 9 actuarial exam credits
• At least 2 years actuarial experience (preferably in life insurance)
• Strong technical and modelling skills
• Good attention to detail and ability to see the big picture
• Motivated self-starter with initiative
• Ability to work under pressure and reprioritize work when necessary
• Ability to work independently and manage deadlines
• Advance experience with Prophet modelling software and other software packages is advantageous
• IFRS17 modelling experience and understanding of the standard is advantageous

COMPETENCIES:

• Strategic
• Leading with influence
• Innovation (Perspective)
• Execution
• Customer First

Skills

Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Numerical Aptitude, Risk Management

Competencies

Action Oriented

Balances Stakeholders

Builds Networks

Business Insight

Collaborates

Communicates Effectively

Cultivates Innovation

Decision Quality

Education

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

Closing Date

24 June 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.

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