Ensure provision of Actuarial Services to Old Mutual Assurance Kenya by working closely with the Business Entities and other Group Functions to meet their needs. This includes reserving, pricing, product reviews, experience reviews and solvency and capital management
Conduct accuracy checks, and analyses data to draw conclusions and make recommendations
Ensure accuracy of the results and adherence to standards, regulations and best practices.
Generate actuarial reports on various technical issues to Management.
1. Key Tasks and Responsibilities
- Technical Actuarial Support: Conduct and/or review internal actuarial liability valuations, analysis of profitability/surplus, calculation and analysis of embedded value using Prophet and other tools provided
- Support with the appointed actuary’s reports and collaborate with the appointed actuary to produce the Financial Condition Report
- Product Profitability Review: Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions
- Solvency and Capital management: Carry out solvency computation for the entity on the various solvency regimes reported by the business including any required solvency stress tests
- Financial Modeling: Assist with financial modeling of business scenarios/projects to inform business decision making
- Strategy and Business Planning Support: Assist with business planning financial projections and solvency projections and perform stress and scenario analysis on the plan numbers
- Reinsurance Support: Carry out a reinsurance analysis to explore ways to optimise reinsurance arrangements
- Reporting and Documentation: Support in the preparation of reports and presentations to management and boards
- Risk Management support: Assist the business units and risk officer in identifying, quantifying and monitoring risks (insurance, market, credit risks etc.) where appropriate
- Investment Strategy support: Support to develop/formulate appropriate investment strategies and/or review and monitor the adherence to mandates
- Learning and development: Support the actuarial analyst team with learning of the actuarial concepts, methodology and reporting value chain
- Business Partnering to support effective business decisions, meeting company objectives and optimising capital/risks
- Other reasonable duties that may be assigned by management
2. Skills and Competencies
- Analytical Skills
- Business Awareness
- Communication and Presentation skills
- Good interpersonal skills
- Ability to prioritize and work on a wide range of deliverables at once
- Working under minimal supervision
- Proficiency in Microsoft Office
3. Knowledge and Experience
- Strong actuarial technical skills
- Extensive experience with IFRS17 concepts and reporting
- Expert knowledge on reserving softwares preferably Prophet
- Strong analytical skills
- Strong programming skills
- Knowledge of insurance regulations.
4. Qualifications
- Bachelor of Actuarial Science or other related finance or mathematics degree
- Minimum 8 years actuarial experience
- Actuarial Knowledge: Nearly qualified or qualified actuary, 10 papers and above