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About the Organisation
The UAP Old Mutual Group is an integrated Financial Service business comprising Faulu Microfinance Bank, UAP and Old Mutual. The Group, which is operational in East Africa services to more than 1.2 million customers across Kenya, Uganda, Tanzania, Rwanda and South Sudan. The UAP Old Mutual Group now comprises of three key players as a result of the acquisition of a controlling stake in Faulu in 2014 and UAP in 2015 by Old Mutual. The acquisitions resulted in Old Mutual Kenya UAP Holdings and Faulu Microfinance Bank, forming one of the largest financial services groups with a growing footprint in East and Central Africa. UAP and Old Mutual have been major players in the financial services market in East Africa for decades. The two entities have vast experience in Insurance, Investment, Asset Management and Banking, and are passionate about helping our customers achieve their financial goals.
Actuarial Trainee OMLAU job at UAP Old Mutual Group | Apply Now
Kampala, Uganda
UAP Old Mutual Life Assurance is a leading provider of life insurance and investment solutions in East Africa, committed to helping individuals and businesses protect their financial futures. With a strong reputation for trust and reliability, the company has earned widespread recognition for its customer-centric approach and innovative financial products. Known for fostering a collaborative, inclusive, and dynamic work culture, UAP Old Mutual Life Assurance offers its employees a chance to grow professionally while contributing to the organization’s purpose of improving the financial well-being of its customers.
With a rich history dating back to 1947, the company has evolved through key mergers and partnerships, including its acquisition by Old Mutual in 2015, to become a market leader in the region. UAP Old Mutual Life Assurance’s business model focuses on delivering accessible and innovative life insurance products tailored to meet the diverse needs of its clients. The company operates across multiple African countries, reaching a wide customer base and continuing to expand its footprint. Core values such as integrity, innovation, customer focus, and responsibility underpin the company's operations, while its commitment to corporate social responsibility (CSR) is reflected in initiatives supporting community development, financial literacy, and sustainability. For more information, visit www.uapoldmutual.co.ug.
Are you looking for Trainee jobs in Uganda 2024 today? then you might be interested in Actuarial Trainee OMLAU job at UAP Old Mutual Group
Full Time
Job Title
Actuarial Trainee OMLAU job at UAP Old Mutual Group
UAP Old Mutual Group
Job Description
Job Title: Actuarial Trainee OMLAU
Organisation: UAP Old Mutual Insurance
Duty Station: Kampala, Uganda
Technical Actuarial Support: assist with conducting and reviewing internal actuarial liability valuations for relevant insurance subsidiaries, IFRS17 valuations, analysis of profitability/surplus, calculation and analysis of embedded value using Prophet and MS Excel for OM Life entities.
Experience Investigations: assist with performing profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions.
Solvency and Capital management: assist with solvency computation for the entity 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 life entities. Perform stress and scenario analysis on the plan numbers.
Reinsurance Support: Carry out a reinsurance analysis for the East Africa subsidiaries to explore ways to optimize on reinsurance arrangements.
Reporting and Documentation: assist with preparation of presentation and reports to businesses and subsidiary boards committees. Preparation of Board Papers and regulatory solvency and valuation reports.
Risk Management support: assist the Business Units and Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate.
Investment Strategy support: Develop/formulate appropriate investment strategies and/or review and monitoring of investment strategies for OM Life businesses.
Other reasonable duties that may be assigned by management.
Fulfills various tasks and assignments and completes rotations in a range of areas related to professional services, under varying levels of supervision. Develops the necessary skills and capabilities to move into a specific role in the organisation.
How to Apply
Duties, Roles and Responsibilities
Applications are managed via the AfriCareers Jobs Portal:
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Click the Apply button below
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Go to the "Jobs" tab
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Read the detailed job description
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Submit your application via the jobs portal
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Track progress under "My Applications" tab
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All suitably qualified candidates are encouraged to submit your application and complete Curriculum Vitae by applying online through visiting Old Mutual’s e-recruitment jobs portal at the web Apply Button below.
Deadline: 16th December 2024
Responsibilities:
Client Issue Diagnosis
Collate and conduct initial analysis of the information gathered through interviews and research to support the diagnosis of underlying client issues and problems and the design of single solutions.
Customer Service
Provide a quality service to customers while identifying opportunities to secure new business or support retention. Responsibilities may include processing cases, dealing with complex queries, and investigating and resolving customer problems.
Community of Practice Management
Participate in a community of practice in a defined area of expertise or consulting to begin to build own expertise.
Product/Service Information
Provide advanced product/service information.
Data Collection and Analysis
Extract relevant data from information provided by others, and input it into spreadsheets or standard formats.
Knowledge Management
Collect and create content, best practices, and case studies to capture and share knowledge.
Personal Capability Building
Develop and maintain excellent process or technical skills by participating in assessment and development planning activities as well as formal and informal training and coaching.
Solutions Analysis
Find the most effective ways to respond to routine functional inquiries. Involves following procedures and precedents.
Operational Compliance
Develop working knowledge of the organization’s policies and procedures and of regulatory codes and codes of conduct relevant to own work, adhering to mandatory procedures to ensure own work is undertaken to the required standards.
Improvement/Innovation
Support others by implementing improvements and carrying out simple change management tasks.
SERVICES
COMMERCIAL
SERVICES
INDUSTRIAL
SERVICES
RESIDENTIAL
Qualifications, Education and Competencies
Skills
Business, Business Decisions, Business Planning, Capital Management, Change Management, Coaching, Decision Making, Development Planning, Embedded Value, Exploration, Financial Forecasting, Financial Modeling, Investment Strategies, Planning Activities, Profitability Analysis, Reinsurance, Risk Management, Scenario Analysis, Solvency
Competencies
Collaborates
Communicates Effectively
Customer Focus
Ensures Accountability
Manages Complexity
Optimizes Work Processes
Organizational Savvy
Plans and Aligns
Education
NQF Level 5 – Higher, Advance or Occupational Certificate or equivalent
