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Job Description

The Actuarial Value Management (AVM) team is responsible for the Pricing Reinsurance and Experience Investigations of new and existing retail protection propositions across the Retail Mass and Retail Affluent Segments in South Africa and abroad.

This Pricing role involves leading a team focused on the development and support of pricing automation tools. The incumbent will oversee IT system testing and manage the end-to-end implementation of Change Requests (CRs) related to product maintenance annual rate reviews and strategic pricing changes. A key aspect of the role includes conducting pricing and profit testing for Retail Protection products and ensuring the seamless integration of rates and structures into IT systems.

Collaboration with other stakeholders is key to addressing queries crafting pricing specifications and ensuring the profitability competitiveness and risk management of protection products.

Key Result Areas

• Leads coaches manages and optimizes the performance of the team.

• Serve as gatekeeper for product rate table uploads IT system environments performing reasonability checks and spot validations to ensure data accuracy for system deployment.

• Oversee the implementation of CRs for product maintenance including annual rate reviews and marketability/profitability adjustments.

• Maintain automation of pricing tools supporting New Business Existing Business Quotes and Scheduled Annual Cover Increases.

• Ownership accountability and responsibility of pricing and IFRS 17 profit-testing models and table uploads.

• Oversee the management of the Retail pricing mailbox and query responses.

• Engage with Marketing and Product teams on pricing queries and product suite maintenance.

• Communicate rate table updates promptly to the AVM team and relevant stakeholders.

Requirements: Skills Qualifications and Experience required

• Qualified actuary or nearly qualified with at least 6 years of actuarial experience

• Pricing experience of Life products

• IFRS 17 knowledge is essential

• Proficient in Microsoft Office 365 apps (Advanced use of Excel Access and Prophet are a must while any Coding/SQL/R/Python experience would be a distinct advantage)

• Experience in leading a team

• Business acumen and negotiation skills

• Good interpersonal and communication skills

• Good organisational and planning skills

• Strong sense of ownership

• Ability to work on a wide range of deliverables over a given period of time

• Good time management to work towards deadlines

Please note: the appointments may be made at a lower role size depending on the successful candidates experience and exam progress.

Competencies

• Innovation

• Leading with influence

• Collaboration

• Embracing Change

• Directing People

• Taking action

Manages a line of business with a team of insurance actuaries. Conducts research and recommends policies to assist with the organizations financial structure completes financial projections and performs actuarial analysis. Provides advice and problem solving input to others in particularly complex situations. OML roles mapped to this profile are: Senior Actuarial Supervisor Senior Actuarial Supervisor (OMAO) Manager: Reserving and Manager: Tactical Pricing.

Responsibilities

Actuarial Analysis Assumptions and Insights

Create and present high-quality actuarial analyses assumptions insights and reports to support business decision-making and/or business performance evaluation. Perform complex statistical analysis to enable data analysis.

Actuarial Model Creation and Maintenance

Develop and maintain complex 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 products and for the improvement and management of existing products that create competitive advantage that are viable in relation to the organizations risk appetite and financial objectives and that meet regulatory requirements.

Actuarial Financial Reporting

Produce complex actuarial financial information ensuring the accurate completion of a key strand of the process to contribute to the production of statutory and non-statutory reports and other disclosures.

Leadership and Direction

Communicate the actions needed to implement the functions strategy and business plan within the team; explain the relationship to the broader organizations mission vision and values; motivate people to commit to these and to do extraordinary things to achieve local business goals.

Performance Management

Manage and report on the performance of a substantial diverse team; set appropriate performance objectives for direct reports or project/account team members and hold individuals accountable for achieving them; take appropriate corrective action where necessary to ensure the achievement of team/personal objectives.

Organizational Risk Management

Develop and/or deliver a contingency plan for significant aspects of the risk financial management and/or control process.

Organizational Capability Building

Use the organizations formal development framework to identify the teams individual development needs. Plan and implement actions to build their capabilities. Provide training or coaching to others throughout the organization in own area of expertise to enable others to improve performance and fulfill personal potential.

Compliance

Monitor and review performance and behaviors within area of responsibility to identify and resolve non-compliance with the organizations policies and relevant regulatory codes and codes of conduct.

Skills

Action Planning Adaptive Thinking Agile Project Management Data Compilation Data Controls Executing Plans Financial Acumen Identifying Customer Needs Information Management Insurance Product Management Insurance Sales Legal Practices Negotiation Policies & Procedures Risk Management Workflow 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

10 June 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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