Actuarial Associate – Life
Job Purpose:
The role holder is responsible for executing the day-to-day tasks/projects of the Actuarial unit by performing data checks and analysis, experience investigations, business projections and valuation of technical liabilities for the assigned LOB.
Key responsibilities:
- Coordinate with the assigned Segment in the preparation of valuation data.
- Timely calculation of accurate insurance technical liabilities provided for monthly financial reporting. This includes preparation of reports on valuation results.
- Provide input in product development for the LOB.
- Provide inputs into product pricing and setup in the actuarial pricing and valuation system
- Carry out experience investigations as directed e.g. on expenses, lapse experience, intermediary investment performance, etc.
- Prepare input data for the annual business planning exercise, strategy reviews and for capital management/solvency purposes as well as Stress and Scenario testing on the projections.
- Coordinate with the assigned Segment in the preparation of data for the management and board reports
- 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 2 actuarial exams).
- 0-2 years’ experience in a similar position.
Technical/ Functional (Core 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