Old Mutual Finance

Category: Large Employer Category

Old Mutual Finance’s Interpretation of Good Practice in Skills Development

Old Mutual Finance (OMF), established in 2008, is a proud member of the Old Mutual Family. OMF’s vision is to become the most admired financial services provider in Africa, providing a consistent customer experience through financial education and holistic financial product sales and services solutions. In order to achieve this vision, OMF has identified three top priorities, one of which is to ‘strengthen our core business’, which is achieved by keeping the culture healthy and looking after its employees.

The philosophy behind OMF’s Skills Development Strategy is to provide an educational platform where employees acquire greater knowledge, skills, and continuous development to realise their full potential.

OMF supports the National Skills Agenda and incorporates Skills Development as part of its business initiatives. For the seventh successive year, Old Mutual has retained its Level 2 B-BBEE rating with Skills Development being a priority element on the scorecard. Old Mutual has also been ranked the leading Top Employer in the Financial Industry in South Africa for the sixth year in a row.


OMF hosted its first unemployed Learnership in 2014, called the Nafasi Learnership Programme, which means “opportunity” in Swahili. The programme aims to develop matriculants with no previous work experience or formal qualifications, and offers them the opportunity to gain workplace experience, personal development skills, and a South African Qualifications Authority (SAQA) accredited qualification.

Twelve unemployed individuals were hosted in the pilot programme and all learners completed and graduated with a National Certificate in Debt Recovery NQF Level 4. This project was funded by OMF. All 12   learners were appointed into a permanent role after successful completion of the programme. The second intake of learners consisted of 29 learners, of which five exited, and the remaining 24 will be completing a National Certificate in Micro Lending Front Line Services NQF Level 3. OMF will retain 23 of these learners.

The programme proves to be successful, with 97 percent of the learners being trained. Another 30 learners have been onboarded onto this year’s   programme,   with the aim of rolling the programmes out nationally to all provinces during 2017/18. Learners are selected through means of a psychometric assessment that measures their dependability, job match, literacy, and ability to determine whether they are suited for the programme. Thereafter they are interviewed and placed according to their strengths and abilities.

A big component of the unemployed Learnership programmes are the Personal Mastery workshops which have been incorporated into the curriculum and customised according to unemployed individuals. Learners acquire techniques in emotional intelligence, develop personal skills, become resilient, and are given career guidance and support. OMF Guides have also seen a remarkable improvement in the learners’ behaviour, attitudes and overall performance in the workplace.

This programme enables us to not only upskill and create job opportunities for unemployed youngsters but also assist our business in creating a skilled, talented pipeline to recruit from.


OMF actively participates in various Skills Development Initiatives funded through the BANKSETA. These include:

  • The Certificate    in    Management   Development Programme, offered through Milpark
  • Employed Learnerships – Micro Lending Front Line Services NQFL3 and Debt Recovery NQFL4
  • Unemployed Learnership – Micro Lending Front Line Services NQFL3
  • Work Readiness Programme – ITC
  • International Executive Development Programme

These programmes are integrated into the OMF Talent Management process by means of Learning and Career Pathways for each theme of work in our business.



OMF continuously strives towards delivering best practice in HR and Learning & Development; therefore, it has developed an online learning system called Everest. This system enables the business to facilitate training across the country, including rural areas, and ensures that learning is delivered through the use of innovative techniques that capture all employees. Not only do learners achieve knowledge, their learning experience is enhanced through the use of the system. The online system is updated on an annual basis and OMF is currently in the process of revamping the system to accommodate future training needs. 

The OMF Learning & Development team employs Learning Programme Designers that design and develop in-house training programmes; graphic designers to ensure that the look and feel of the programmes are suited for the business, along with exceptional Learning Facilitators who roll out the training programmes to the  business.

OMF has also recently rolled out televisions at its branches which enables it to facilitate training at weekly meetings. The televisions are also utilised as a method of communicating training updates and keeping customers informed of its product offerings.


OMF is fully committed to ensuring that employees have the relevant knowledge, skills and expertise to perform their work in order to achieve high standards consistently and reach their full potential. It evaluates and reviews learning and development provisions to ensure that they are adequate, relevant and effective, provide value for money and support and promote Employment Equity and National Skills Development Strategy Objectives.


  1. Online Knowledge   Assessments   and   Learning Progress Trackers
  2. Summative Knowledge Assessments and In-branch Gamification
  3. Application of knowledge in the workplace through feedback and observation
  4. Individual performance reviews and impact measured against contracted outcomes and business strategy

Skills Development is also measured as part of the Financial Services Charter (FSC) Scorecard that exists for B-BBEE, therefore all training interventions are captured onto the online learning management system and reviewed on a monthly basis at OMF’s Guidecom (Executive meetings), to assess its current position against the targets set.


  • OMF’s facilities are adequate to meet the needs of employees with disabilities
  • It increases representation of employees with disabilities at all levels of its organisation
  • It increases its awareness regarding disability and reasonable accommodation
  • Employees are not subjected to unfair discrimination
  • OMF is viewed as an employer of choice for PWDs 


Over the past year, OMF on-boarded the Compliance – Financial and Banking Sector Legislation Modules as well as the Consumer Education Modules, which have been implemented in its business this year. OMF becomes involved in BANKSETA initiatives by participating in the following: 

  • Attending BANKSETA meetings, including the recent Compliance Training Material Launch
  • Participating in PIVOTAL Funding applications for Learnerships
  • The BANKSETA IT Work Readiness Programme
  • Participating in the Certificate in Management Development for the past two years
  • Interest expressed in participating in the Kuyasa and Letsema Learnerships

In addition to the above, OMF actively participates in several initiatives to drive Skills Development. These include:

  • Engaging with the greater Old Mutual in terms of B-BBEE to understand, implement and drive the Codes of Good Practice, relevant frameworks and legislation
  • Actively setting goals and measurements to ensure that Skills Development Targets are met in order to support business to enable transformation
  • There are currently 10 accredited assessors and moderators at OMF as well as 12 accredited Skills Development Facilitators