Job Description

Lets Write Africa's Story Together!

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

This role involves working as part of the Actuarial Team within Old Mutual Life Kenya to support the Senior Valuations Specialists and Head of Life Actuarial/Senior Management/Boards with the following:
• Ensure provision of Actuarial Services to Old Mutual Life Kenya by working closely with the Business Entities and other Group Functions to meet their needs. This includes reserving, pricing, product reviews, experience reviews and solvency and capital management
• Conducts accuracy checks, and analyses data to draw conclusions and make recommendations
• Generate actuarial reports on various technical issues to Head of Actuarial, Senior Management and Board of Directors.

1. KEY TASKS AND RESPONSIBILITIES

• Technical Actuarial Support: Conduct and/or review internal actuarial liability valuations for relevant insurance subsidiaries and analysis of profitability/surplus
• Review of external actuaries’ report and collaboration with the appointed actuaries to produce the Financial Condition Report
• Experience Investigations: Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions
• Product Profitability Review Perform profitability analysis, experience analysis, and other relevant actuarial investigations for Old Mutual to inform business decisions
• Solvency and Capital management: Carry out solvency computation for the BUs on a risk-based capital basis including solvency stress tests
• Financial Modeling assist with financial modeling of business scenarios/projects to inform business decision making
• Strategy and Business Planning Support assist with business planning financial projections and solvency projections for the Business Units. Perform stress and scenario analysis on the plan numbers
• Reinsurance Support Carry out a reinsurance analysis for the Life Kenya subsidiaries to explore ways to optimize on reinsurance arrangements
• Reporting and Documentation: Presentation of results and reports to businesses and subsidiary boards committees. Preparation of Board Papers and regulatory solvency and valuation reports

• Risk Management support: assist the Life Business Units and Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate. Formulate appropriate risk mitigation measures for the BUs and develop a risk register for an enterprise in CURA (Risk System)
• Investment Strategy support: Develop/formulate appropriate investment strategies and/or review and monitoring of investment strategies for Old Mutual Life businesses

• Other reasonable duties that may be assigned by management

2. SKILLS AND COMPETENCIES

• Analytical Skills
• Data Handling knowledge
• Business Awareness
• Problem Solving Skills
• Communication and Presentation skills
• Ability to prioritize and work on a wide range of deliverables at once
• Working under minimal supervision
• Good interpersonal skills
• Proficiency in Microsoft office packages

3. KNOWLEDGE & EXPERIENCE

• IFRS17 Knowledge
• Familiar with the current Insurance regulations, Capital markets and Central Bank regulations
• Strong actuarial technical skills
• Strong analytical skills
• Strong data programming skills

4. QUALIFICATIONS

• Bachelor of Actuarial Science or other related finance or mathematics degree
• Minimum 5 years actuarial experience
• Actuarial Knowledge: Show progress with actuarial examinations, Minimum 7 papers from a recognized actuarial body

5. ANTI-MONEY LAUNDERING (AML) EXPECTATION

The incumbent will be responsible for ensuring adherence to, implementation of, and adoption of Compliance, Anti-Money Laundering (AML), and Sanctions-related policies, procedures, and process requirements within Old Mutual and its subsidiaries. This includes execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality. Additionally, the role involves identifying and monitoring potential AML, Sanctions, or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action.

Skills

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

Competencies

Action OrientedBalances StakeholdersBuilds NetworksBusiness InsightCollaboratesCommunicates EffectivelyCultivates InnovationDecision Quality

Education

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

Closing Date

14 August 2026 , 23:59

The Old Mutual Story!