Senior Actuarial Specialist

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Job Description

The Mass and Foundation Cluster (MFC) 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.

Examines and summarizes statistical data by applying mathematical and statistical knowledge to unpaid claim liability, trend analysis, rate formula, forecasting, and premium analysis. Participates in the preparation of annual statements, calculation of tax related issues, and drafting of business coverage forms. OML roles mapped to this profile are: Senior Actuarial Specialist, Senior Actuarial Specialist (OMAO) and Senior Specialist: Actuarial Underwriting.

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 MFC 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 MFC 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.

Requirements: Skills, Qualifications and Experience required

• Newly/nearly qualified actuary or senior actuarial student (9+ actuarial exemptions)

• Substantial actuarial 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 prioritise

• Willing to learn and grow

• High level of accountability

The following would also be advantageous:

• Knowledge of the MFC 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 **

Skills

Actuarial Science, Financial Reports, Forecasting, Group Problem Solving, Reporting Processes

Competencies

Balances StakeholdersBuilds NetworksBusiness InsightCollaboratesCommunicates EffectivelyCultivates InnovationDecision QualityDrives Results

Education

Bachelors Degree (B)

Closing Date

15 June 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.

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