Overview
Head of Actuarial: OMART Jobs in Johannesburg, South Africa at Old Mutual
Position: Head of Actuarial: OMART Life
Description
Old Mutual Alternative Risk Transfer Limited (OMART Life) is looking for a suitably qualified individual for a role as Head of Actuarial. This position within OMART Life, offers you the opportunity to form part of the senior management team of a diverse, growing business that enables and support the launch of 1st and 3rd party life insurance cell captives.
OMART is a dynamic life insurance company and regularly interacts with various specialist areas within Old Mutual, both within and outside this business unit.
Being a separately managed company with various internal and external clients, the Head of Actuarial will play an important role in the reporting requirements, product & pricing approvals and governance framework of OMART Life and its clients. This role presents the opportunity to manage OMART’s relationships with a variety of internal and external stakeholders, get a full overview of running a life insurance company while driving innovation and transformation of the South African life insurance market.
Key Result Areas / Outputs:
Responsible for risk management and governance as per the Prudential standards under the Insurance Act, including ORSA and Risk Policy oversight.
Responsible for owning all actuarial reporting deliverables, processes, and methodologies, including the specific areas listed below:
Producing and presenting reports to the OMART Life Board and Board Committees
Assisting the Head of Control Functions with reports and information requests
Capital Management, including OMART Life representation on Capital Management Committee, engagement with Balance Sheet Management, and ownership of OMART Life Dividend policy, calculation, and recommendation for declaration to the OMART Board
Regulatory Solvency methodology and calculation
Valuation process and methodology for published statutory and tax reporting purposes
Prudential authority engagement, submissions, and information requests
Management of the development/maintenance of actuarial valuation models
Experience investigations and product monitoring
Data management in support of reporting requirements and monitoring deliverables
Reinsurance process owner
Business planning and forecast submissions
Member of the Cell selection and onboarding Committee
Responsible for monitoring and updating OMART Life and client investment mandates
Liaise with a wide range of internal and external stakeholders on actuarial matters
Manage communication of actuarial changes to external stakeholders
Manage a team of actuarial specialists
Qualifications,
Skills and Experience:
Qualified Actuary with extensive actuarial experience
Valuation experience is essential
IFRS 17 experience is essential
Management Experience
The following would also be advantageous:
Cell captive experience
CERA qualification
Experience in presenting and engagement with senior stakeholders, including Boards of Companies
Experience with Prophet and/or DCS or similar actuarial modelling packages
Experience in process improvement and optimisation
Local life insurance knowledge
Personal attributes:
Self-starter who shows initiative and can drive projects to completion with minimal guidance.
Ability to work on a wide range of deliverables at once.
Strong sense of ownership.
Strong communication skills, both written and verbal.
The ability to work with detail yet maintain a “big picture” perspective
Ability to gather a wide range of information, filter, and then use it in making sound and balanced decisions.
Strong business acumen
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 Decision Quality Ensures Accountability Financial Acumen
Education
Honours Degree (Hons):
Actuarial Science
Closing Date
06 July 2026 , 23:59
Title: Head of Actuarial: OMART
Company: Old Mutual
Location: Johannesburg, South Africa
Category: