Actuarial Business Partner

Lets Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

The purpose of the Actuarial Business Partner – Finance is to provide actuarial expertise and commercial insight to support financial reporting, monthly business performance, product profitability, and strategic decision-making within our life business. The role bridges actuarial modelling and financial analysis, ensuring accurate and timely RFO and VNB estimates, IFRS 17 reporting inputs, and business-focused product management insights that support growth and profitability.

Responsibilities

1.      Financial Reporting & Monthly Performance Management

• Accountable for managing the preparation of monthly Results From Operations (RFO) and Value of New Business (VNB) estimates by reviewing and validating the work prepared by the actuarial and finance teams, ensuring accuracy and completeness.
• Provide detailed variance analysis, identifying key drivers and recommending actions.
• Support the quarterly and annual reporting cycles under IFRS 17 and SAM-related Group reporting, including assumption changes, and validation with Group Actuarial.
• Prepare actuarial insights for ExCo, OMAR, and Board reporting.

2.      Actuarial Modelling & Analysis

• Maintain and enhance actuarial and financial models used for forecasting, budgeting, and performance monitoring.
• Analyse claims experience, persistency, expenses, and new business mix to inform pricing, reserving, and business actions.
• Ensure appropriate alignment between model assumptions and Finance’s planning and valuation processes.

3.     Product Management & Commercial Support

• Conduct product profitability analyses and recommend pricing or structural improvements.
• Support development of new products and enhancement of existing ones, including actuarial modelling and feasibility analysis.
• Provide insights into optimal sales mix, channel performance, and customer value metrics.
• Participate in the sales forum and contribute to commercial decision-making.

4.      Capital, Risk & Compliance Support

• Support capital and solvency monitoring under the South African Prudential Authority’s Solvency Assessment and Management (SAM) framework and the FSRA regulatory framework.
• Assist with the preparation of local capital submissions and internal capital assessments.
• Provide actuarial input into risk forums, including OMAR Financial Risk Management Forum.
• Ensure compliance with IFRS 17, the SAM framework for Group reporting, FSRA guidelines, Old Mutual actuarial governance standards, and internal model controls.

5.      Performance Monitoring & Reporting

• Develop dashboards and performance packs to monitor KPIs, including CSM movements, experience variances, VNB, and product-level profitability.
• Provide business-friendly actuarial insights to management and Boards.
• Support strategic initiatives requiring financial modelling and scenario analysis.

The following are key requirements for the role: 

• Bachelor’s degree in actuarial science, Mathematics, Statistics, Finance, or related field.
• Associate-level qualification (having completed Actuarial Risk Management) and actively progressing toward Fellowship (FASSA) with the Actuarial Society of South Africa or equivalent.
• Minimum 3 years of actuarial experience in life insurance.
• Strong background in financial modelling, reserving, pricing, and capital management.
• Working knowledge of IFRS 17 and local FSRA reporting requirements.

Competencies 

• Strong actuarial modelling skills with proficiency in Prophet (or equivalent actuarial systems).
• Advanced Excel and data analytics (SQL, Python, R) for scenario analysis and financial dashboards.
• High analytical capability and attention to detail.
• Excellent verbal and written communication skills – ability to simplify complex actuarial topics.
• Effective stakeholder management and ability to influence decision-making at senior levels.
• Integrity, professionalism, and commitment to the Old Mutual values and Maadili Charter.

Skills

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

Competencies

Balances Stakeholders

Builds Effective Teams

Builds Networks

Business Insight

Communicates Effectively

Develops Talent

Directs Work

Drives Results

Education

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

Closing Date

30 November 2025 , 23:59

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