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Full-time
bachelor degree
Posted 2d ago
Apply by Aug 15
~40 hrs/week
Responsibilities
The specialist will conduct actuarial liability valuations, perform profitability and experience investigations, and support solvency and capital management for the business units. They will also assist in financial modeling, reinsurance analysis, and the preparation of technical reports for senior management and boards.
Requirements
Candidates must hold a Bachelor of Actuarial Science or a related finance/mathematics degree and possess at least 5 years of actuarial experience. Additionally, applicants are required to show progress with actuarial examinations, having completed a minimum of 7 papers from a recognized body.
Full job description
Lets Write Africa's Story Together!
Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.
Job Description
This role involves working as part of the Actuarial Team within Old Mutual Life Kenya to support the Senior Valuations Specialists and Head of Life Actuarial/Senior Management/Boards with the following: • Ensure provision of Actuarial Services to Old Mutual Life Kenya by working closely with the Business Entities and other Group Functions to meet their needs. This includes reserving, pricing, product reviews, experience reviews and solvency and capital management • Conducts accuracy checks, and analyses data to draw conclusions and make recommendations • Generate actuarial reports on various technical issues to Head of Actuarial, Senior Management and Board of Directors.
1. KEY TASKS AND RESPONSIBILITIES
Technical Actuarial Support: Conduct and/or review internal actuarial liability valuations for relevant insurance subsidiaries and analysis of profitability/surplus
Review of external actuaries’ report and collaboration with the appointed actuaries to produce the Financial Condition Report
Experience Investigations: Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions
Product Profitability Review: Perform profitability analysis, experience analysis, and other relevant actuarial investigations for Old Mutual to inform business decisions
Solvency and Capital management: Carry out solvency computation for the BUs on a risk-based capital basis including solvency stress tests
Financial Modeling: assist with financial modeling of business scenarios/projects to inform business decision making
Strategy and Business Planning Support: assist with business planning financial projections and solvency projections for the Business Units. Perform stress and scenario analysis on the plan numbers
Reinsurance Support: Carry out a reinsurance analysis for the Life Kenya subsidiaries to explore ways to optimize on reinsurance arrangements
Reporting and Documentation: Presentation of results and reports to businesses and subsidiary boards committees. Preparation of Board Papers and regulatory solvency and valuation reports
Risk Management support: assist the Life Business Units and Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate. Formulate appropriate risk mitigation measures for the BUs and develop a risk register for an enterprise in CURA (Risk System)
Investment Strategy support: Develop/formulate appropriate investment strategies and/or review and monitoring of investment strategies for Old Mutual Life businesses
Other reasonable duties that may be assigned by management
2. SKILLS AND COMPETENCIES
Analytical Skills
Data Handling knowledge
Business Awareness
Problem Solving Skills
Communication and Presentation skills
Ability to prioritize and work on a wide range of deliverables at once
Working under minimal supervision
Good interpersonal skills
Proficiency in Microsoft office packages
3. KNOWLEDGE & EXPERIENCE
IFRS17 Knowledge
Familiar with the current Insurance regulations, Capital markets and Central Bank regulations
Strong actuarial technical skills
Strong analytical skills
Strong data programming skills
4. QUALIFICATIONS
Bachelor of Actuarial Science or other related finance or mathematics degree
Minimum 5 years actuarial experience
Actuarial Knowledge: Show progress with actuarial examinations, Minimum 7 papers from a recognized actuarial body
5. ANTI-MONEY LAUNDERING (AML) EXPECTATION
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.
Skills
Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Numerical Aptitude, Risk Management
Old Mutual Limited is a premium pan-African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries. We have been helping our customers achieve their lifetime financial goals for over 170 years by investing their funds in ways that create positive futures for them, their families, their communities and broader society.
In this way, we significantly contribute to improving the lives of our customers and their communities while ensuring a sustainable future for our business.
We employ more than 30 000 people and operate in 14 countries across two regions Africa (South Africa, Namibia, Botswana, Zimbabwe, Kenya, Malawi, Tanzania, Nigeria, Ghana, Uganda, Rwanda, South Sudan and eSwatini) as well as Asia (China)
So why work here?
We believe you can shape the future with us – a future where we build a better Africa together. That’s why we’re committed to creating opportunities that will give you an edge on the rest. Once you’re part of our team, you will have access to the best breed of advice, tools and frameworks that will equip you to be your exceptional best. #MomentsThatMatter
Offices: 107 Rivonia Road, Sandton, Gauteng 2196, ZA · Jan Smuts Drive, Pinelands, Cape Town, Western Cape 7405, ZA
Old Mutual Limited is a premium pan-African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries. We have been helping our customers achieve their lifetime financial goals for over 170 years by investing their funds in ways that create positive futures for them, their families, their communities and broader society.
In this way, we significantly contribute to improving the lives of our customers and their communities while ensuring a sustainable future for our business.
We employ more than 30 000 people and operate in 14 countries across two regions Africa (South Africa, Namibia, Botswana, Zimbabwe, Kenya, Malawi, Tanzania, Nigeria, Ghana, Uganda, Rwanda, South Sudan and eSwatini) as well as Asia (China)
So why work here?
We believe you can shape the future with us – a future where we build a better Africa together. That’s why we’re committed to creating opportunities that will give you an edge on the rest. Once you’re part of our team, you will have access to the best breed of advice, tools and frameworks that will equip you to be your exceptional best. #MomentsThatMatter
Offices: 107 Rivonia Road, Sandton, Gauteng 2196, ZA · Jan Smuts Drive, Pinelands, Cape Town, Western Cape 7405, ZA