Junior Actuarial Specialist

About the role

Old Mutual is hiring a Junior Actuarial Specialist in Blantyre. 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. It also includes actuarial modelling, financial reporting and compliance with regulatory codes.

Key responsibilities

• Analyse and present data using standard tools and formats, test work for accuracy and produce accurate reports
• Contribute to statutory and non-statutory financial reports and other disclosures
• Help develop and maintain actuarial models, validating the structure of underlying assumptions
• Analyse own and competitor products to support product development and 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 needs
• Run and monitor Prophet valuation models for monthly, quarterly and annual reporting
• Perform IFRS 17 end-to-end reviews (FCF, RA and CSM), support assumption reviews and experience investigations, and carry out data validation and valuation reconciliations
• Support Embedded Value and Value of New Business reporting, model testing, model changes and governance documentation
• Prepare actuarial management information, board reports and regulatory reports, and support the product development team
• Follow organisational policies and regulatory codes, obtain supervisor approval for exceptions, and implement improvements and give 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
• Prophet valuation models