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  • Posted: Sep 6, 2022
    Deadline: Not specified
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    Old Mutual Kenya is based in Nairobi and is part of a larger group that offers solutions in long-term savings, asset management and investment. We offer solutions to individuals and corporates underpinned by our core values which are: Respect, Integrity, Accountability and Pushing beyond boundaries.
    Read more about this company

     

    Senior Manager, Operations Excellence

    Job Description

    Under the general guidance of the Head of Operations & Customer Experience, maintain a healthy business environment in branches and Head Office Units through strict adherence to the operational procedures and guidelines as issued from time to time.

    • Timely resolution of Audit and Quality Assurance issues.
    • Always ensure compliance by all branches to existing regulatory and internal policies and procedures and guidelines.
    • Develop, update and periodically review Processes and Operating procedures for all departments with relevant stakeholders.
    • Process reengineering/innovation to bring about efficiencies and address any control gaps.
    • Ensure compliance by branches to the Bank’s standards and regulatory requirements pertaining to Anti Money Laundering/Combating Terrorism Financing and Know-Your-Customer (KYC).
    • Ensure that process weaknesses that present potential opportunities for operational losses or frauds are sealed to avoid any loss to the Bank.
    • Contact point for Internal & External Auditors and Regulators for AML/Compliance related matters as well coordinating with branches during the audit exercises.
    • Carry out online system surveillance during the working hours and give assurance of compliance to Banking Operations procedures.
    • First escalation contact for branches emergencies e.g. offline, blackout, IT issues, branch security, etc and follow up with the responsible Business Support Centre departments and 3rd party vendors for provide speedy solutions.
    • Entrench a risk aware culture and develop risk self-assessment capability to identify, evaluate, monitor and mitigate the risks.
    • Provide day-to-day management for a high caliber team of Banking Operations Professionals, providing guidance, support, coaching and motivation. This includes performance management, career development and general line management duties.
    • Work with branches to ensure timely and quality onboarding of clients and reduce account dormancy to below 40%.
    • Ensure service levels at branches are of high standards so as to deliver a world-class customer experience.
    • Ensure increased utilization of the Bank’s Alternate Channels.

    Education

    • Bachelor Commerce (Required)

    Closing Date: 20 September 2022

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    Senior Manager, Customer Experince

    Job Description

    • The Customer Service Professional handles complex administration across the value chain to ensure resolution as well as providing advice on Investment information, Investment Performance and scheme administration and is individually accountable for achieving results through own efforts.
    • Manages the processes to perform end to end client resolution    
    • Maintains client relationships in accordance with legislation, FSB regulations and good accounting practice.    
    • Manages and ensures instructions to the market are carried out accurately.    
    • Provides management information and executes action when required.    
    • Manages and provides expertise in applying and launching of new products, funds and systems.    
    • Manages and ensures that all month end deadlines and SLA requirements are met.    
    • Responsible for the documentation of all work processes.    
    • Manages and identifies enhancements required to improve Customer Experience, operational effectiveness and process automation.

    Closing Date: 20 September 2022

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    Head of Actuarial - General Insurance and Health Business

    Job Description

    Responsible for review of financial results for published and regulatory reporting and to extract insights for business consideration. The role acts as main client relationship manager for the team to all internal stakeholders, statutory actuaries, and auditors. The role requires sound technical knowledge of Financial Reporting requirements, Old Mutual Kenya products, with strong planning and delivery focus. The role also requires team management and coaching of team members

    Technical Actuarial Support; 

    • Review results including soundness of reserves, capital requirements (statutory, internal and SAM) and other metrics (IFRS profits) for all relevant East Africa insurance subsidiaries.
    • Ensure consolidated reporting produced with appropriate supporting analysis and commentary.
    • Provide guidance in the calculation of all insurance contract reserves and profit metrics.

    Business Partnering

    • Extract insights for business consideration and collaborate effectively with both business and specialized areas across all levels, including Finance and Product teams, Operations, Distribution and Group Actuarial (via Rest of Africa Finance Actuary).
    • Provide advice on the ideal investment strategy to ensure the company can meet its liabilities as they become due.
    • Monitor and evaluate the level of mismatch of the asset and liability portfolios and update management on the same for immediate remediation.
    • Strategy and Business Planning Support
    • Guide business planning financial projections
    • Participate in strategy development and review as requested
    • Ensure production of market and competitor analysis
    • Execute and report on the actuarial mission plan

    Forecasting / Monthly reporting

    • Ensure production of monthly reporting and forecasting and ongoing monitoring of the financial impacts of the business strategy on key financial metrics including the solvency position. Provide recommendations to remedy undesirable outcomes.

    Reporting Capability:

    • Ensure processes and models are efficient, robust, fit for purpose and aligned to Group policies and standards as well as actuarial best practice.
    • Ensure the control environment is adequate and effective.
    • Ensure compliance with Group policies as they relate to model risk and validation, assumption setting and model governance. 
    • Create a repository of the documentation of the underlying methodologies used in the actuarial processes and any deviation from experience analysis results.

    Actuarial Reports 

    • Produce reports for both internal and statutory management purposes including annual valuation, financial condition reports and quarterly solvency statements
    • Produce and present actuarial reports for BU and Group EXCO
    • Product/Services Development and Pricing assist when required to with technical input in product development and pricing exercises ensure that new products and changes to existing products are allowed for in financial reporting process
    • Reinsurance and Underwriting Support as required
    • Experience Monitoring: Conduct claims experience analysis, expense investigations, persistency/business retention studies, and other relevant actuarial investigations to inform pricing and or valuation bases

    Risk Management Support.

    • assist BUs/Risk department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate and formulating appropriate risk mitigation measures for insurance subsidiaries and having an enterprise wide/Group view
    • Work with Risk and Compliance teams in ensuring localizing of Old Mutual's Group policies and ensure full compliance, Insurance and Reinsurance Risk Policy, Product Development, and approval policy

    Special Projects

    • participate in special projects as would be requested by Group Management/BU Management/relevant Boards e.g., IFRS17 and Financial Transformation

    Stakeholder Management:

    •  Develop a Service Level Agreement (SLAs)/ Terms of reference (ToR) between actuarial and key stakeholders for delivering the requirements of the Actuarial Function.
    • Liaise with consulting actuaries in matters regarding annual actuarial valuations for statutory reporting purposes and product development matters.

    Leading a team: 

    • Provide leadership to the team and foster better interdepartmental relationships to ensure efficiency and effectiveness of the actuarial function. 
    • Develop and implement strategies for the actuarial function. Align these to the overarching company objective.
    • Develop, mentor, and motivate the actuarial staff for optimal performance

    Skills

    • Leadership
    • Management Reporting
    • Monthly Reporting
    • Risk Management
    • Strategy Implementation

    Closing Date: 14 September 2022

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    Junior Actuarial Specialist (OMAO)

    Job Description

    • To assist the Actuarial Specialist in carrying out valuation of technical liabilities in GI and Health business, capital adequacy assessments, prepare reports and carry out any other duties as delegated by the head of department
    • Conducts accuracy checks on data before it is used and to analyse data to draw conclusions and make recommendations
    • To induct and supervise actuarial interns as they may be assigned to the business and build their technical capacity.

    Reserving and Liability Valuation:

    • Assist in carrying out reserving and triangulation of actuarial liability valuations for the respective East Africa Entities as allocated by the Head of Function
    • Ensure reserving methodology used is in line with local regulation and Actuarial best practice standards
    • Review of external actuaries’ report and collaboration with the appointed actuaries to produce the Financial Condition Report (FCR)
    • Assist in implementation of the upcoming IFRS17 accounting standard and provide technical assistance

    Data Checks:

    • Ensuring accuracy of data (valuation, pricing, and investigation data) before it is used.
    • Analyse, Query and clean data as need be
    • Produce a report capturing any identified data issues and track resolution with the different teams Underwriting, Claims, IT, Finance etc
    • Collate and provide accurate data which is needed by the External Actuary and External Auditors as needed (End and Half Year)

    Reporting:

    • Support in drafting of various management and regulatory reports as may be required
    • Support in analysis needed for reporting to RoA Actuarial Function and Group Reports

    Analytics:

    • Business partnering with contacts in underwriting, claims, finance, and other departments and providing analysis and support to improve underwriting results and data insights
    • Assist in consolidation and submission of various analysis for the wider group
    • Prepare monthly management reports on drivers of performance after end month reporting
    • Contributing to portfolio deep dive, reinsurance analysis, Loyalty awards and analytic support
    • Assist in Capital assessment and reporting
    • Carry out industry performance reviews and reports as well as market research

    Product Pricing and Review:

    • Carry out pricing reviews and profit test of new products and revamped products
    • Assist the Actuarial Specialist in liaising with the business in Product performance review and product pricing for P&C Business
    • This involves liaising with different departments to ensure that all relevant input is received
    • Assist in pricing of high value business or tenders as may be requested by the business
    • Assist the underwriting team in preparation of client performance reports

    Reinsurance Support:

    • Assist in carrying out reinsurance analysis to monitor the performance of reinsurance treaties and assist the businesses in exploring ways to optimise on reinsurance arrangements

    Special/Ad-hoc Projects:

    • Participate in special projects as would be requested by the insurance companies within the group.
    • Assist in Developing new tools and assist in improving processes to create added value across the actuarial department and other departments. (Automation)
    • Other reasonable duties that may be assigned from time to time.
    • Departmental Strategy: Support in implementation of the departmental strategy and tracking of strategic items

    Skills

    • Regulatory Reporting
    • Risk Management

    Closing Date: 14 September 2022

    Method of Application

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