Head of Capital

Found in: beBee S ZA - 4 weeks ago

Johannesburg, South Africa Old Mutual Life Assurance Company (Malawi) Limited Full time
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

Role overview

This role heads up the Capital Management team which is part of the broader Group Balance Sheet Management (GBSM) team within Group Finance.

The role focuses on managing and optimising the supply and consumption of capital across the group.

Key Result Areas

The role reports into the Head of Group Balance Sheet Management and includes the following key focus areas:

Governance
  • Set the group's Financial Management Framework which contains the principles for managing capital in the group.
  • Set the capital policies that support the Financial Management Framework.


Capital supply
  • Determining the cost of capital and hurdle rates for the business across the group and across the different territories
  • Determining the optimal source of capital across the group i.e. the ideal mix of equity, preference shares and debt and getting planned issuances approved by the relevant committees
  • Planning the supply of capital for the group as part of the group planning and budgeting processes
  • Work with the group treasury team in maintaining the group's credit ratings.


Capital demand
  • Working with the segments to understand their capital needs. Review segment business cases for capital investments and assist segments with their capital requests.
  • Support the regulated entities within the group with determining suitable capital targets and dividend policies.
  • Reporting to the capital management committee on the capital positions of regulated entities relative to their targets.


Capital optimisation
  • Identifying and executing opportunities to optimise the capital structures and capital consumption across the group.
  • Advising on the most suitable capital structures for large transactions.
  • Play a lead role in assisting the group in meeting and exceeding the group RoNAV targets.


Requirements, Qualifications and Experience required
  • Actuary or CA
    • Minimum Experience: 10 years relevant experience in the financial services and investment sector with a focus on capital management
  • CFA/MBA would be an advantage
  • Solid experience with the SA Prudential Standard for Insurers
  • Understanding of life insurance balance sheets, including accounting and statutory reserving
  • Ability to manage multiple stakeholders (internal and external)
  • Knowledge of the insurance and banking industry
  • Ability to communicate well, internally and externally


Skills

Education

Bachelors Degree (B) (Required)

Closing Date

18 March 2024

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.

Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.

All prospective employees are required to disclose their vaccination status as part of the recruitment process.

Please refer to the Old Mutual's Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.

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