OLD MUTUAL

Position: Junior Actuarial Specialist

Location: Blantyre, Malawi

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

Job Description

Performs assignments of a variety actuarial-related tasks, e.g., compilation and analysis of losses and reserves. Develops and enhances procedures including review for actuarial soundness. Analyzes completed work for reasonableness and accuracy, and may recommend specific courses of action. OML roles mapped to this profile are: Junior Actuarial Specialist and Junior Actuarial Specialist (OMAO).

Responsibilities

Actuarial Analysis, Assumptions and Insights

1. Analyze and present data using pre-set tools, methods, and formats, testing completed work for reasonableness and accuracy to contribute to the production of actuarial analyses, assumption setting and insights. Produce accurate reports for others by requesting data from a variety of standard sources and inputting that data into standard formats.

Actuarial Financial Reporting

1. Carry out complex actuarial analyses to contribute to the production of statutory and non-statutory financial reports and other disclosures.

Actuarial Model Creation and Maintenance

1. Contribute to the development and maintenance of actuarial models through analysis to identify and validate the structure of underlying actuarial assumptions.

Actuarial Product Development & Management

1. Carry out complex analyses of own organization and competitor products to support the identification of opportunities for creating competitive advantage in existing or new products and ensuring their continuous management.

Organizational Risk Management

1. Gather, monitor and analyze risk, financial management and control data and recommend further investigation. Involves using established risk management models, systems and protocols and working under direction.

Actuarial Calculation of Funding Requirement

1. Carry out specified analysis of funding contributions, like employee benefit programs, to support the evaluation of future funding requirements.

Compliance

Develop knowledge and understanding of the organization’s policies and procedures and of relevant regulatory codes and codes of conduct to ensure own work adheres to those standards. Obtain authorization from a supervisor or manager for any exceptions from mandatory procedure.

Improvement/Innovation

1. Implement improvements and provide feedback on them. Use change management systems and protocols to provide routine support services.
2. Run and monitor Prophet valuation models for monthly, quarterly and annual reporting.
3. Perform IFRS 17 end-to-end results reviews including FCF, RA and CSM analysis.
4. Support assumption reviews and experience investigations.
5. Perform data validation and valuation reconciliations.
6. Support Embedded Value and Value of New Business reporting.
7. Assist with model testing, model changes and governance documentation.
8. Prepare actuarial management information, board reports and regulatory reports.
9. Provide support to the product development team

Skills

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

Competencies

1. Action Oriented
2. Balances Stakeholders
3. Builds Networks
4. Collaborates
5. Communicates Effectively
6. Cultivates Innovation
7. Ensures Accountability
8. Financial Acumen

Closing Date: 30 October 2026 , 23:59

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https://oldmutual.wd3.myworkdayjobs.com/Old_Mutual_Careers/job/Blantyre/Junior-Actuarial-Specialist_JR-84869