Job Summary
The role is responsible for the execution and delivery of key actuarial outputs to support Heritage Insurance in risk management, capital management, product development and financial reporting capabilities.
Key Responsibilities – Managerial
Provide guidance in the production of all actuarial calculations, results and executive summary reports.
Develop and continuously maintain Heritage’s actuarial policy, operations and procedure manual.
Lead and drive all data statistical modelling to support statutory and non-statutory actuarial valuations and capital reserves.
Ensure regulatory actuarial reports for both quarterly and annual reporting are prepared and submitted.
Supervise, mentor and coach staff in the actuarial department.
Key Responsibilities – Operational
Provide input in product development for general insurance products
Provide input into underwriting strategy and rules for general insurance business
Analyse statistical data in order to determine rates for different risks in acceptance of
proposals for new policies and products in conjunction with the underwriting department
Undertake product pricing and setup including reserving (the actuarial pricing & valuation system)
Provide analysis to support the application of appropriate reinsurance arrangements
Liaise with the risk and compliance department in the measurement/ quantification of operational risk in general insurance
Calculation of all general insurance contract reserves
Make recommendations on existing products based on market needs, existing product performance, and competitor analysis, in order to increase sales volume and profitability.
Design, price and set-up product in the system and also ensure the relevant actuarial product signoffs are obtained.
Conduct experience analyses for the purpose of valuations, product development, risk management and management information.
Perform required actuarial and other analyses for management reporting and make recommendations to support these analyses.
Perform calculations in relation to Asset Liability Matching (ALM), economic capital and solvency assessment of the Company, which is used as input for risk management.
Prepare dashboards and disseminate for purposes of management information and risk management.
Ensure regulatory actuarial reports for both quarterly and annual reporting are prepared and submitted.
Use model techniques and statistical concepts to determine probability and assess risks and give best estimates and implement the actuarial control cycle
Monitor risk within business positions to ensure excessive risks are not taken during business execution.
Calculate the technical reserves using appropriate actuarial methodology for financial reporting, regulatory reporting and group reporting.
Ensure compliance to IRA regulation
Qualifications
BSc. Actuarial Science, Statistics, Mathematics or a related qualification
Progress in Institute and Faculty of Actuaries UK examinations (at least 10 papers) or equivalent
Member of The Actuarial Society of Kenya
Experience
10 years’ experience in an actuarial function, 5 of which must be in management position.
Competencies
Advanced knowledge of actuarial software in terms of capabilities and output
Knowledge of insurance industry
Statistical techniques
Knowledge of reinsurance arrangements and structures
Knowledge of statistical packages or programming (e.g. SAS, Visual Basic)
Business acumen
Stakeholder relationship management
Formulating strategies and concepts
Entrepreneurial and commercial thinking
Planning and organizing
Relating and networking
Working with people
Adapting and responding to change
Deciding and initiating action
Persuading and influencing
Presenting and communicating information
Leading and supervising
Creating and innovating
Adhering to principles and values
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If you meet the above requirements, you are encouraged to forward your application and updated cv to hr@libertylife.co.ke
Apply via :
hr@libertylife.co.ke
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