Job Ref. No: JLIL 347

Position: Portfolio Manager

Role Purpose

The role holder will be responsible for managing the company’s investment portfolios to achieve optimal financial performance, liquidity and risk-adjusted returns in line with Jubilee Life’s strategic objectives and regulatory requirements. The role involves formulating and implementing investment strategies that align with the company’s asset-liability management framework, ensuring compliance with Insurance Regulatory Authority (IRA) guidelines, and safeguarding policyholder and shareholder funds. Working closely with the Chief Finance Officer, the role holder will leverage financial and market insights to optimize investment outcomes, support product profitability, and enhance the overall financial sustainability of Jubilee Life Insurance Limited.

Main Responsibilities

1. Strategy

Investment Strategy Development

• Design and implement investment strategies aligned with Jubilee Life’s risk appetite, asset-liability matching (ALM), and long-term financial goals.
• Manage fixed income, equity, and alternative investment portfolios to achieve sustainable returns above benchmark yields.
• Monitor and rebalance portfolios to optimize returns while maintaining sufficient liquidity for claims, maturities, and operational needs.
• Conduct scenario and sensitivity analysis to assess the impact of market movements on solvency, profitability, and capital adequacy.
• Support the CFO in preparing annual investment plans and performance reports for the Investment Committee and the Board.

Market Analysis & Research

• Conduct in-depth research on financial markets, economic trends, and interest rate movements to inform investment decisions.
• Monitor macroeconomic indicators and capital market developments affecting insurance investment performance.
• Evaluate and recommend external fund managers or alternative investment opportunities to enhance portfolio diversification and returns.
• Provide data-driven insights and reports to management to support financial planning and ALM decisions.

Product Support & Innovation

• Work with Actuarial and Product Development teams to provide investment input into new product pricing and profitability assessments.
• Support the development of investment-linked products and long-term savings solutions through optimized asset allocation.
• Participate in strategic discussions on capital deployment and emerging opportunities within the life insurance business.

Stakeholder Engagement

• Prepare and present periodic investment performance updates to the CFO, Investment Committee, and the Board.
• Liaise with regulators, fund managers, custodians, and banks to ensure efficient and compliant investment operations.
• Collaborate with internal teams (Finance, Actuarial, Risk) to align investment outcomes with broader business objectives.

2. Operational Responsibilities

Portfolio Management

• Oversee daily portfolio operations including asset allocation, rebalancing, and trade execution.
• Track portfolio performance against approved benchmarks (e.g., government securities, NSE indices) and take corrective action where necessary.
• Ensure accurate and timely execution, documentation, and reporting of investment transactions.
• Maintain updated investment records and reconciliations consistent with internal and regulatory reporting standards.

Risk Management

• Identify, measure, and manage investment risks including market, credit, and liquidity risks.
• Implement diversification, duration management, and hedging strategies to mitigate adverse exposures.
• Ensure compliance with the Investment Policy Statement (IPS), IRA regulations, and internal exposure limits.
• Work with Risk and Compliance teams to uphold governance, audit, and ethical standards.

Treasury & Liquidity Management

• Support the CFO in cash flow forecasting to align investment maturities with operational and policyholder payment obligations.
• Optimize liquidity across short-term and long-term portfolios for efficient cash utilization.
• Monitor bank placements and money market instruments to ensure maximum yield within approved risk thresholds.

3. Corporate Governance

Compliance

• Stay updated on evolving investment, financial market, and insurance regulatory requirements.
• Ensure adherence to all statutory obligations under the Insurance Act, IRA guidelines, and CMA frameworks.
• Maintain detailed documentation of investment decisions and performance reports for audit readiness.

Governance & Controls

• Establish and maintain strong internal controls to reduce operational, financial, and compliance risks.
• Proactively identify governance or ethical concerns and recommend mitigation measures.

4. People & Culture

• Build and lead cross-functional teams, promoting collaboration, accountability, and high performance.
• Retention KPI: Maintain a regrettable turnover rate below 5% annually within finance teams through mentorship, recognition, and growth opportunities.
• Employee Engagement Score (EES): Drive a 10% year-over-year improvement through communication, empowerment, and team-building initiatives.
• Cultural Alignment Index (CAI): Meet or exceed Jubilee’s CAI targets by embedding company values into project execution and team culture.
• Provide coaching and training on investment tools, analytics, and insurance-specific knowledge.
• Resolve team conflicts and stakeholder issues while preserving morale and achieving project goals.
• Advocate for team needs (resources, tools, capacity building) to support performance and well-being.

Key Competencies

• Strong expertise in insurance investment management, ALM principles, and portfolio construction.
• Advanced financial and market analysis skills, including macroeconomic interpretation and modelling.
• In-depth understanding of IRA and CMA investment regulations.
• Proficiency in Excel, Bloomberg, Morningstar, or equivalent portfolio management tools.
• Strong risk management capabilities (market, credit, liquidity).
• Excellent communication, presentation, and report-writing skills.
• High ethical standards and fiduciary integrity.
• Strong collaboration skills across Finance, Actuarial, and Risk functions.

Academic Background & Professional Qualifications

• Bachelor’s degree in Finance, Economics, Business Administration, Actuarial Science, Mathematics, or a related field.
• Professional certifications such as CFA, CPA, or FRM are highly desirable.
• Proficiency in investment analytics, financial modelling, and portfolio management systems.
• Additional training in insurance investment management, treasury, or risk analysis is an advantage.
• Minimum 6 years’ experience in investment or portfolio management within insurance, asset management, or financial services.
• Proven success managing portfolios exceeding KES 500 million with consistent positive alpha or above-benchmark performance.
• Extensive experience in fixed income and long-term instruments including government securities, corporate bonds, and term deposits.
• Strong understanding of ALM, solvency, capital adequacy, and risk-adjusted return frameworks.
• Demonstrated collaboration with Finance, Actuarial, and Risk teams to deliver integrated investment solutions.

How to Apply

If you are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com quoting the Job Reference Number and Position by 23rd November 2025.Only shortlisted candidates will be contacted.