Main Purpose of the Job- (Job Summary)
The role holder is responsible for providing support to General and Life Insurance and other support functions in the Company such as Finance and Risk. The role involves providing actuarial analysis to ensure the company is always aware of its financial liability position, risks and market dynamics.
Main Responsibilities
General Insurance
Review and test models and assumptions on actuarial valuation for general insurance
Price new products and provide ratings guidelines for general insurance
Provide actuarial input in the Product Development Process for general insurance
Monitor and analyze experience investigations (claims, expenses etc.) and other actuarial investigations for general insurance
Formulate the investment strategy and review of the investment performance to provide insights for general insurance
Review and provide insights on solvency position and capital requirements
Perform long term financial projections to support decision making
Review of reinsurance arrangements and give recommendations on suitability of the reinsurance arrangements
Prepare and present quarterly industry analysis report for the subsidiaries and
Prepare draft quarterly Board Papers
Participate in special projects such as the IFRS 17 implementation support as well as other projects requested by general insurance.Life Insurance
Provide input into underwriting strategy and rules for Life insurance business
Review the product performance with regards to their claims and expense experience and advise on appropriate pricing
Provide analysis to support the application of appropriate reinsurance arrangements and provide inputs to the reinsurance management strategy
Working with the risk and compliance department in the measurement/quantification of financial and operational risk in Life insurance business
Co-ordinate the supplementary reporting requirements to Annual Financial Reports
In charge of developing the Asset Liability Management framework for the life business and working closely with the Management to actualize the ALM framework
Coordinate the preparation of business plans/budgets and capital management initiatives for the life business
Provides input to the enterprise risk management by conducting stress and scenario testing, reviewing the risk appetite statements, etc
Ensuring compliance to IRA regulation and other relevant regulations
Work closely with the finance function, appointed actuary and external auditor in the preparation of financial statements and the disclosure requirements
Make presentations to management and board on the performance of the business, including financial impacts of actions taken by management and the board
Perform any other roles as may be assigned by management from time to time.
Knowledge & Experience
The candidate must demonstrate and possess the following skills and qualifications:
University Degree in actuarial science or related field
Minimum 5 years of relevant actuarial experience in an actuarial function
Fellowship Qualification (IFOA, SOA or other recognized actuarial body)
Exposure and experience in reporting, including IFRS 17 implementations
Strong data programming skills
Good analytical skills
Statistical techniques
Excellent communication and presentation skills
Problem solving skills’
Excellent interpersonal skills
Leadership skills with high personal integrity
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Interested candidates should send their CVs to hr@kenyanalliance.com using the position as the subject of the email.
Apply via :
hr@kenyanalliance.com
