Junior Actuarial Specialist

About the role

Old Mutual is hiring a Junior Actuarial Specialist (also mapped to the Junior Actuarial Specialist OMAO profile). The role covers a range of actuarial tasks such as compiling and analysing losses and reserves, developing procedures checked for actuarial soundness, and reviewing completed work for reasonableness and accuracy.

Key responsibilities

• Analyse and present data using standard tools, methods and formats, and produce accurate reports by gathering data from standard sources
• Carry out complex actuarial analyses to support statutory and non-statutory financial reports and other disclosures
• Help develop and maintain actuarial models by identifying and validating the structure of underlying assumptions
• Analyse own and competitor products to support product development and ongoing management
• Gather, monitor and analyse risk, financial management and control data and recommend further investigation
• Analyse funding contributions, such as employee benefit programmes, to evaluate future funding requirements
• Run and monitor Prophet valuation models for monthly, quarterly and annual reporting, and perform IFRS 17 end-to-end reviews (FCF, RA and CSM)
• Support assumption reviews, experience investigations, data validation, valuation reconciliations, Embedded Value and Value of New Business reporting, model testing and governance documentation
• Prepare actuarial management information, board and regulatory reports, and support the product development team
• Follow organisational policies and regulatory codes, obtain authorisation for exceptions, and implement improvements and feedback

Required profile

• Bachelor's degree in Actuarial Science
• Knowledge of the organisation's policies and relevant regulatory codes and codes of conduct

Required skills

• Computer literacy, data compilation and data controls
• Numerical aptitude and risk management
• Insurance product management and insurance sales