Senior Actuarial Specialist

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 Legacy & Product Management team is looking for a suitably qualified individual for a Senior Actuarial Specialist role within the OMiX: Savings and Income area. The Legacy & Product Management team is responsible for product management and performance for both savings and income products in the Old Mutual Retail market. 

We are looking for someone driven and excited to take on new challenges to help us grow, maintain and improve our existing Retail Investment Proposition. In joining the team, you will provide support to various functions measuring and/or enhancing product performance as well as supporting projects. You will have exposure to PF Retail Savings products and will get an in-depth view of how these fit into the investment landscape within South Africa, as well as the customer and business value propositions championed by Old Mutual.
While the individual will be involved in some BAU items, there is also a focus on driving strategically significant projects (of various sizes) for the book. This will require the individual to interact with various stakeholders across the product value chain.

• Ownership of the customer data and its use within the area.

• Oversight of the delivery of management information reports and automating of processes and reports using programming/coding techniques.

• Building and maintaining Actuarial models.

• Product development and implementation, including system testing.

• Ensuring client correspondence and marketing material are consistent with product rules and that product rules are consistent with the most up-to-date regulatory environment.

• Investigations related to product rules, business optimisation and feasibility studies, including product strategy.

• Documentation, including product specifications.

• Providing business input into new product developments, experience investigations and repricing exercises carried out by OMiX: Savings and Income as well as maintaining and enhancing current initiatives.

• Supporting our Proposition Management, Distribution channels, Servicing areas and Technical Marketing functions in the ongoing maintenance and support of our Retail Investment propositions. In addition, providing support to IT in managing current product set on our product admin system.

• Product reviews and recommending decisive action relating to customer value for money.

• Supporting the transition of our current product set onto the new PAS.

Role Qualifications, Skills & Experience required

• Qualified Actuary or Senior Actuarial student making good progress with exams with at least 4 years Actuarial experience.

• Experience in a product management/performance/similar role will be beneficial.

• Knowledge of Old Mutual’s Retail Savings and Income products for the Personal Finance segment, IT platforms and processes would be advantageous.

• Experience and knowledge of Actuarial models used to support the above-mentioned products.

• Strong technical skills and attention to detail.

• Good interpersonal skills and ability to work in a team and across teams.

• Good communication skills (both written and verbal).

• Ability to plan and prioritise.

• Motivated self-starter who shows initiative, is proactive and looks for ways to improve existing processes.

• High levels of drive, energy and innovation.

• Willing to learn and grow.

• Microsoft Office (Word, Excel, PowerPoint, Access).

• Programming knowledge and experience with SQL will be advantageous.

Please note: the appointments may be made at a lower role size depending on the successful candidates’ experience and exam progress

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 StakeholdersBuilds NetworksBusiness InsightCollaboratesCommunicates EffectivelyCultivates InnovationDecision QualityDrives Results

Education

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

Closing Date

11 May 2025 , 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!