Lets Write Africa's Story Together!

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

Job Description

Old Mutual Botswana is a member of the Old Mutual Group. We offer a wide range of short-term and long-term insurance services in Botswana with branches in Gaborone and Francistown. Our products provide insurance services to personal, commercial and corporate clients.

We are rooted in our purpose of Championing Mutually Positive Futures Every Day and believe that a great customer experience is anchored in a great employee experience


The Actuarial Manager owns and drives well defined sized projects/tasks with a high level of complexity and ambiguity. 

They take accountability for Product and Actuarial function in the Old Mutual Life Company to ensure delivery of key strategic initiatives and enhance operational efficiency.

Responsibilities

Lead all product initiatives for the business (For all new and existing product developments and or enhancement)

Take lead with product developments ensuring that the right products are delivered within agreed timeliness

Feed into the business case and product feasibility testing

Lead the documentation of all product development artifacts until signoff

Drive product approval with Key stakeholders in OMAR

Stakeholder management to ensure timely product signoff

Lead local Actuarial Valuations and Reporting to ensure on time and accurate calculation of IFRS 17 results.

Lead Actuarial Valuations and Reporting to ensure on time and accurate calculation of Regulatory Submissions

Produce Management reports outlining key information from Product and Actuarial function to inform business Strategy.

Reinsurance risk policy lead coordinator

Set up reinsurance agreement for new products

Conduct annual reinsurance arrangement review to assess efficiency of the existing arrangements and treaties

Collaborate with the reinsurer to achieve underwriting profitability.

Negotiate reinsurance arrangement where applicable.

Insurance risk policy Lead Coordinator

Advise clients on available Life insurance products and negotiate suitable premium rates

Translates actuarial concepts into client - friendly terminology.

Report on insurance risk performance on a monthly basis

Manage insurance risk to ensure risk is within appetite

Preform monthly reviews of existing business

Perform experience analysis of prospective new Business

Product Monitoring Risk policy Lead Coordinator:

Ensure business compliance with the risk policy

Conduct annual review of product experience to align pricing to experience.

Conduct annual review of product offering to ensure market relevance

Subject Matter Experts on all new and existing products

Conduct annual Review of all clients facing material including policy wording to ensure alignment with Pricing and approved products specifications.

Lead reporting and Financial KPIs submissions during business planning.

Strategic Decision Support: Deliver high-impact management reports, translating complex actuarial and product insights into actionable intelligence for leadership decision-making

Continuously monitor the asset liability management (ALM) for the business to reduce market risk.

Provide technical assistance to client facing team and management.

Conduct Market analysis to identify emerging market trends.

Document product and actuarial standard operational procedures.

Checks, manipulates and analyses volumes of data and draws conclusions from the analyses.

Works independently, with minimal supervision than a Junior Actuarial Specialist.

Qualifications and experience required

Degree in BSc Actuarial Studies or equivalent.Completed a minimum of 8 Actuarial exams.More than 5 years’ relevant professional experience.Strong understanding of IFRS 17.Strong technical skills and attention to detail.Microsoft Office (Word, Excel, Powerpoint, Access).Good interpersonal skills and ability to supervise a team.Good communication skills (both written and verbal).Ability to work under deadline pressure.

Skills

Action Planning, Actuarial Valuation, Adaptive Thinking, Agile Project Management, Business, Data Compilation, Data Controls, Executing Plans, Financial Acumen, Identifying Customer Needs, Information Management, Insurance Product Management, Insurance Products, Insurance Risk Management, Insurance Sales, Negotiation, Policies & Procedures, Reinsurance, Risk Management, Workflow Management

Competencies

Balances StakeholdersBuilds Effective TeamsBuilds NetworksBusiness InsightCommunicates EffectivelyDevelops TalentDirects WorkDrives Results

Education

Bachelor Of Science With Honours: Actuarial Science

Closing Date

05 August 2025 , 23:59

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