Senior Actuarial Analyst: Commercial Lines

9 hours ago

Johannesburg, Gauteng, South Africa Old Mutual Limited Full time R400 000 - R800 000 per year

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

Examines and summarizes statistical data by applying mathematical and statistical knowledge to unpaid claim liability, trend analysis, rate formula, forecasting, and premium analysis. Participates in the preparation of annual statements, calculation of tax related issues, and drafting of business coverage forms. OML roles mapped to this profile are: Senior Actuarial Specialist, Senior Actuarial Specialist (OMAO) and Senior Specialist: Actuarial Underwriting.

Responsibilities

Actuarial Analysis, Assumptions and Insights

Analyze, interpret, and present data ensuring the completeness, accuracy, and appropriateness of all insurance data used in order to contribute to the production of actuarial analyses, assumptions and insights. Conduct research and request relevant information to enable analysis of key themes and trends using primary data sources and business intelligence tools.

Actuarial Calculation of Funding Requirement

Contribute to the evaluation of funding contributions, like employee benefit schemes, and to the development of recommendations for future funding contribution levels.

Actuarial Model Creation and Maintenance

Develop and maintain actuarial models, ensuring that the underlying structure of the actuarial assumptions are fully validated and that the models can be integrated into wider business models to enable actuarial analysis, financial reporting, and regulatory compliance.

Actuarial Product Development & Management

Develop proposals for new product features and benefits and for the improvement and management of existing products that create competitive advantage, that are viable in relation to the organization's risk appetite and financial objectives, and that meet regulatory requirements.

Organizational Risk Management

Ensure the organization is not exposed to undue risks by using risk, financial management and control systems to achieve specific goals within a designated area of the business.

Actuarial Financial Reporting

Produce complex actuarial financial information, ensuring the accurate completion of delegated elements of the process to contribute to the production of statutory and non-statutory reports and other disclosures.

Compliance

Maintain and renew a deep knowledge and understanding of the organization's policies and procedures and of relevant regulatory codes and codes of conduct, and ensure own work adheres to required standards. OR Identify, within the team, patterns of non-compliance with the organization's policies and procedures, and with relevant regulatory codes and codes of conduct, taking appropriate action to report and resolve these and escalating issues as appropriate.

Improvement/Innovation

Identify shortcomings in existing processes, systems, and procedures, and use established change management programs to address them.

The Recruitment Process:

  • TA Interview: This will be a discussion with a member of the Talent Acquisition Team to give you an understanding of our business, our culture & values and more context on the role. It will also allow us the opportunity to get to know you more and ensure OMI can meet your career aspirations.

  • Panel Interview: This will be with 2 members of the Senior Leadership of the Hiring Team and 1 member of the HC Leadership Team.

  • Technical & Psychometric Assessments: These will depend on the role and will sometimes happen concurrently with Vetting through an external service provider & Internal Verification.

  • Final Feedback.

All About OMI:

Please note that, unfortunately, we cannot accept any applications after the closing date

Skills

Analytical Thinking, Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Market Analysis, Numerical Aptitude, Regulatory Compliance, Regulatory Requirements, Risk Management, Statistical Data

Competencies

Balances StakeholdersBuilds NetworksBusiness InsightCollaboratesCommunicates EffectivelyCultivates InnovationDecision QualityDrives Results

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

29 October 2025 , 23:59

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.

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