Old Mutual Uganda
Job Description
To support the Actuarial Function by providing actuarial analysis, pricing support, portfolio monitoring, and reporting, with a primary focus on Medical Insurance. The role will also provide analytical support to Finance and other insurance business lines where required to support sound business decisions and sustainable portfolio growth.
Key Tasks and Responsibilities
Support the pricing of new and renewal medical business by assessing premium adequacy and preparing quotations.
Assist in developing pricing recommendations based on claims experience, medical inflation, utilization trends, and scheme demographics.
Support benefit design reviews by assessing the cost impact of proposed benefit changes, co-payments, deductibles, and hospital restrictions.
Analyze claims experience, loss ratios, and utilization trends to identify key cost drivers and emerging risks.
Prepare regular portfolio performance reports and provide insights to support underwriting and business decisions.
Perform data extraction, validation, reconciliation, and analysis to support actuarial work.
Support project activities to help deliver solutions within agreed scope, timelines, and quality standards.
Prepare recurring actuarial reports including loss ratio analysis, claims ratio studies, average premium analysis, lost schemes analysis, benefit depletion analysis, and monthly medical portfolio performance reports.
Assist in developing and maintaining actuarial models, pricing tools, and reporting dashboards.
Support process improvement and automation initiatives within the actuarial function.
Work collaboratively with Underwriting, Claims, Finance, and medical teams to provide actuarial insights.
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.
Qualifications
Bachelor of Science in Actuarial Science or a related quantitative discipline.
Recent graduate or up to 1 year of relevant internship or work experience.
Strong analytical, numerical, and problem-solving skills.
Good verbal and written communication skills.
Ability to learn quickly, work collaboratively, and adapt to a fast-paced environment.
Skills and competencies
Strong analytical and numerical skills.
Proficiency in Microsoft Excel; knowledge of Power BI, SQL, R, or Python is an added advantage.
Basic understanding of insurance and actuarial principles, particularly medical insurance.
Good report writing and communication skills.
Attention to detail with strong problem-solving abilities.
Ability to work independently and collaboratively within a team.
Proactive, eager to learn, and committed to continuous professional development.
JD
Skills
Analytical Support, Client Management, Computer Literacy, Executing Plans, Learning Quickly, Management Reporting, Numerical Aptitude, Policies & Procedures, Problem Solving, Process Improvements, Willingness to Learn
Competencies
Collaborates
Communicates Effectively
Demonstrates Self-Awareness
Drives Results
Ensures Accountability
Manages Complexity
Optimizes Work Processes
Organizational Savvy
Education
Bachelors Degree (B): Actuarial Science (Required)
Closing Date
17 July 2026 , 23:59
