Head: Corporate Actuarial at Old Mutual

• Develop, plan for, implement and take accountability for the strategy and operating model of the Corporate Actuarial Department, partnering with the Executive: Risk & Actuarial in response to the business model and organisation strategy.
• Establish an aligned departmental Balanced Scorecard focused on the implementation, measuring and management of the departmental strategy.
• Determine the business value chain for the Corporate Actuarial Department and ensure that this value chain is aligned and integrated with the Finance Division value chain.
• Coordinate the calculation of technical provisions and capital requirements.
• Ensure the appropriateness of the methodologies and underlying models used as well as the assumptions made in the calculation of technical provisions and capital requirements.
• Assess the sufficiency and quality of the data used in the calculation of technical provisions and capital requirements, including undertaking an analysis of estimates against experience.
• Inform the Board and EXCO of the reliability and adequacy of the calculation of technical provisions and capital requirements.
• Provide an opinion on the overall underwriting policy and reinsurance arrangements.
• Use capital model and other tools to quantify all risk exposures, including operational risk
• Own, build, parameterise, refine and validate the company’s internal capital model
• Contribute to the effective implementation of the risk-management system, in particular with respect to the risk modelling underlying the calculation of the capital requirements.
• Provide such reports to the regulator as may be required from time to time and interact with the regulator on relevant matters.
• Provide required oversight in areas of the business requiring actuarial sign-off (including pricing, product development, reinsurance, proposed transactions and others)
• Contribute to the formulation of business strategy through the use of the capital model in decision-making, risk quantification, evaluating strategic alternatives, input into business planning and similar applications.
• Participate in the relevant OM Group structures as required.

Responsibilities
Skills and Experience

• 10 plus years relevant experience

Education

• Bachelor of Science Honours (BSc Hons): Actuarial Science (Required), Fellow Of Actuarial Society Of South Africa (FASSA): Actuarial Science (Required)