Job Purpose:

• To provide actuarial support to the assigned LOB and participate in overall risk management for the company.

Key responsibilities:

• Select appropriate reserve calculation method and calculate reserves.
• Provide analysis to support the renegotiation of the existing contracts.
• Provide input in product development for the LOB.
• Provide inputs into product pricing and setup in the actuarial pricing and valuation system.
• Review and monitor experience on all products to inform decision making including profit testing of existing products.
• Provide comprehensive actuarial reports to the business each quarter and highlight key issues on an ongoing basis including solvency and capital monitoring. 
• Address all areas raised by the IRA in their risk inspection and continue to highlight emerging risks.
• Perform any other duties as may be assigned from time to time.

Knowledge, experience and qualifications required:

• University Degree in Actuarial Science – or other highly numerate subject area. 
• Good progress in examination from the Institute and Faculty of Actuaries or any equally recognized professional actuarial body (attempted and passed at least 8 actuarial exams).
• At least 4-6 years’ experience in an actuarial or product development function in a mature Insurance/ Financial Services institution. 
• Experience across product lines preferred i.e. life and non-life.
• Proven experience working across functions and with multiple stakeholders.
• A keen eye for innovation in the insurance and financial services space preferred. 

Technical/ Functional competencies:

• Statistical techniques.
• Proficient knowledge on the insurance industry in Kenya.
• Knowledge of reinsurance arrangements and structures.
• Knowledge of statistical packages or programming (e.g. SAS, Visual Basic)
• Database management systems.