Career Opportunities at Old Mutual

Job Description

1. Reinsurance Accounting
2. Statutory & Regulatory returns filing & compliance monitoring for Life business
3. Investment income accounting
4. Month end closure signoff
5. Balance sheet substantiation
6. Reinsurance accounting (liaison with the underwriting & Money In Money Out teams and all reinsurers to ensure reinsurance numbers are fully reconciled).
   1. Ensure all reinsurance transactions as booked in the line of business systems are fully integrated and recorded in the general ledger correctly.
   2. Liaise with the underwriters (corporate business) and MIMO team (retail business) to ensure that submissions of quarterly accounts are done to the reinsurers on a timely basis.
   3. Ensure payments to reinsurers are done on a timely basis once the numbers have been reconciled.
   4. Ensure that annual profit commission statements are prepared, and any estimated amount booked in the general ledger awaiting final confirmation from the reinsurers.
   5. Monitor and track collection of all cash calls as initiated by the underwriting/ claims’ teams.
   6. Ensure compliance with the reinsurance credit control policy.
   7. Ensure that reinsurers’ receivable & payable accounts are well maintained and reconciled.
7. Investment income posting on a weekly basis plus monthly reconciliation of the investment related accounts.
8. Reconciliations of investments portfolios against the asset manager’s numbers and those maintained by the custodians.
9. Monthly confirmation of investments held under lien by CBK & IRA to ensure statutory compliance for the Life business.
10. Timely filing of regulatory returns (monthly, quarterly, and annually). 6. Submission of relevant forms and data to IRA for the annual licensing (Corporate profile return)
11. Facilitate applications of new managers & directors’ approvals by IRA by uploading data on the IRA portal.
12. Supporting the internal & external audits and ensuring that items identified in the audit process are addressed within the advisable timelines.  
13. Assist in system testing (current retail policy administration system for issues logged with the service provider and any other system which might be implemented in future e.g. group life system.
14. Any other tasks as may be assigned by management.

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Job Description

1. Deals with clients via telephone in adherence to procedural productivity and quality standards.
2. Strong support role involving sharing information.
3. Takes inbound or makes outbound calls effecting outbound calls in accordance with predetermined schedule.
4. Finalises calls at point of contact where possible.
5. May escalate more complex queries. Moderate (intermediate) to high level of technical knowledge.
6. Partially multi skilled across product and process relevant to the business area.

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Job Description

1. Ensure provision of Actuarial Services to Old Mutual Assurance 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
2. Conduct accuracy checks, and analyses data to draw conclusions and make recommendations
3. Generate actuarial reports on various technical issues to Group Actuary, Senior Management and Board of Directors.

KEY TASKS AND RESPONSIBILITIES

1. Technical Actuarial Support; Conduct and/or review internal actuarial liability valuations for relevant insurance subsidiaries, analysis of profitability/surplus, calculation and analysis of embedded value using Prophet and MS Excel for UAP entities
2. Review of external actuaries’ report and collaboration with the appointed actuaries to produce the Financial Condition Report for the BUs.
3. IFRS 17 Project Support; Work closely with the IFRS 17 project and technical lead to deliver on the key project milestones and assist with the dry runs and transitions.
4. Product Profitability Review; Perform profitability analysis, experience analysis, and other relevant actuarial investigations for UAP BUs to inform business decisions.
5. Solvency and Capital management; Carry out solvency computation for the entity on a risk-based capital basis including solvency stress tests.
6. Financial Modeling; assist with financial modeling of business scenarios/projects to inform business decision making.
7. Strategy and Business Planning Support; assist with business planning financial projections and solvency projections for the UAP entities. Perform stress and scenario analysis on the plan numbers.
8. Reinsurance Support; Carry out a reinsurance analysis for the East Africa subsidiaries to explore ways to optimize on reinsurance arrangements.
9. Reporting and Documentation; Presentation of results and reports to businesses and subsidiary boards committees. Preparation of Board Papers and regulatory solvency and valuation reports.
10. Risk Management support; assist the Business Units and Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate.
11. Investment Strategy support; Develop/formulate appropriate investment strategies and/or review and monitoring of investment strategies for UAP-Old Mutual businesses.
12. Other reasonable duties that may be assigned by management.