Financial Reporting Actuary

4 weeks ago

Johannesburg, Gauteng, South Africa Old Mutual Full time
Job Title: Financial Reporting Actuary

A career opportunity exists for a highly skilled and experienced Financial Reporting Actuary to join the Group Actuarial team at Old Mutual. This role offers a challenging and rewarding experience in financial reporting, regulatory capital, and risk metric analysis.

About the Role

The successful candidate will be responsible for delivering Old Mutual's regulatory capital and other risk metric reporting as part of a small team of actuarial professionals. This includes historical reporting of capital for quarterly, half-yearly, and annual submissions, ensuring appropriate advance instructions are sent to suppliers of information, managing delivery dates, reviewing data supplied, and maintaining and improving tools used in various processes.

The role also involves capital forecasting projections as part of the annual Business Plan process, regular capital allocation updates, scenario and sensitivity testing of capital levels under various scenarios, product support through calculating the impact of new products or product changes on overall OMLACSA/OML capital, business support through providing executive team with analysis of impact of proposed balance sheet changes on overall OMLACSA/OML capital, and project support to the Group Finance project team where their deliveries need capital calculations.

Key Responsibilities
  • Reporting – Historical reporting of capital for regulatory submissions (quarterly/half-yearly/annual QRTs) and for external publication (half-yearly OML results booklets and financial statements)
  • Ensuring appropriate advance instructions are sent to suppliers of information (e.g., OML entities)
  • Managing the delivery dates and reviewing data supplied
  • Reviewing the team's consolidated results
  • Ensuring controls are appropriately performed, and evidence retained
  • Maintaining and improving the tools used in the various processes
  • Capital forecasting projections as part of the annual Business Plan process and regular capital allocation updates
  • Scenario and sensitivity testing of capital levels under a range of scenarios (for the annual ORSA process as well as ad-hoc when required)
  • Product support through calculating the impact of new products/product changes on overall OMLACSA/OML capital
  • Business support through providing executive team with analysis of impact of proposed balance sheet changes on overall OMLACSA/OML capital (e.g., change of ownership structure, business acquisition/disposal)
  • Project support to the Group Finance project team where their deliveries need capital calculations (e.g., Prudential Authority applications)
Requirements

The ideal candidate should have considerable progress with actuarial examinations, at least 4-6 years' actuarial experience (with financial/capital reporting experience), strong technical skills in actuarial reserving and analysis of surplus, 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, ability to plan and prioritize, willing to learn and grow, and high level of accountability.

An added advantage would be prior experience with capital reporting, exposure to group consolidation and accounting reporting processes, and prior experience with process re-engineering.

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