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.
