Job Ref. No: JLIL 279
Role Purpose
The role holder will be required to lead and manage actuarial teams, provide strategic insights, and ensure the accuracy and integrity of actuarial analysis and reporting. The role holder will support financial stability, risk management, and product development initiatives, ensuring alignment with corporate objectives while fostering collaboration across regional life entities.
Main Responsibilities
1. Strategy
Develop and implement the regional actuarial strategy to support corporate goals, including profitability, sustainability, and growth.
Provide actuarial insights and leadership in strategic planning, business development, and mergers or acquisitions within the life insurance domain.
Support regional leadership in decision-making with forward-looking actuarial insights on profitability, claims trends, and market dynamics.
Act as a thought leader on market trends, regulatory changes, and industry innovations to maintain competitiveness and compliance.
Align actuarial practices and reporting across regional entities for consistency and operational excellence.
2. Actuarial
Oversee the actuarial valuation process for life insurance entities, ensuring timely and accurate financial and regulatory reporting.
Lead the pricing and design of innovative life insurance products to meet market demands and improve profitability.
Ensure robust experience analysis (mortality, persistency, expenses, etc.) is conducted and integrated into pricing and reserving assumptions.
Monitor solvency levels and capital adequacy in compliance with regulatory requirements while optimizing capital efficiency.
Monitor Asset Liability Management, adherence to investment policy statements, and provide corrective actions to enhance returns and capital efficiency.
Implement robust risk management frameworks, including stress testing and scenario analysis, to identify risks and recommend mitigation strategies.
Provide actuarial support for reinsurance negotiations and arrangements across the region.
Guide the development of actuarial models for pricing, reserving, and financial projections using best-in-class tools and methodologies.
3. Board Reporting and Stakeholder Engagement
Prepare and present comprehensive actuarial reports, analyses, and recommendations to Boards of Directors for life entities.
Support executive management and Board discussions with actionable insights on key actuarial metrics and trends.
Act as the key actuarial point of contact for regional regulators, external auditors, and rating agencies, ensuring compliance and transparency.
4. Corporate Governance and Compliance
Ensure adherence to statutory and regulatory requirements, including IFRS 17, risk-based capital frameworks, and other reporting standards.
Establish and uphold robust actuarial governance frameworks for quality, consistency, and compliance.
Participate in audits and internal reviews, addressing findings and ensuring continuous compliance improvements.
Advocate and implement best practices in actuarial policies and procedures across regional life entities.
5. Leadership & Culture
Build and lead high-performing actuarial teams, fostering a culture of collaboration, innovation, and accountability.
Champion professional development of actuarial staff through mentoring, training, and supporting actuarial qualification pathways.
Promote cross-functional collaboration between actuarial teams, underwriting, product development, finance, and other departments.
Act as a role model for ethical practices and corporate citizenship, driving alignment with the organization’s mission and values.
6. Continuous Improvement
Drive innovation and continuous improvement in actuarial processes, methodologies, and tools for enhanced efficiency and accuracy.
Monitor and adopt advancements in actuarial science, technology, and analytics to maintain a competitive edge.
Implement automation and advanced analytics solutions to improve data quality, reporting timelines, and decision-making capabilities.
Key Competencies
Actuarial Expertise: In-depth knowledge of actuarial principles, methodologies, and practices specific to the life insurance industry.
IFRS 17 Proficiency: Expertise in policy decisions, assumption setting, and valuation approaches.
Asset Liability Management Knowledge: Skilled in developing frameworks and crafting Investment Policy Statements.
Leadership and Team Management: Effective leadership skills to inspire and mentor actuarial teams.
Strategic Thinking: Ability to provide actuarial insights supporting long-term planning and corporate goals.
Analytical Skills: Proficient in interpreting complex data, assessing risks, and making informed decisions.
Communication and Influencing: Excellent presentation skills for engaging senior management and stakeholders.
Regulatory Knowledge: Understanding of actuarial and insurance regulations for compliance.
Business Acumen: In-depth knowledge of life insurance industry, market trends, and financial concepts.
Problem-Solving: Proficiency in addressing challenges with data-driven solutions.
Collaborative Approach: Ability to work with cross-functional teams to meet regional business needs.
Adaptability: Capacity to respond to evolving market dynamics and industry trends.
Academic Background & Relevant Qualifications
Master’s Degree in Actuarial Science, Mathematics, Statistics, or related fields.
Bachelor’s Degree in Actuarial Science or related course.
Actuarial Professional Qualifications: Nearly Qualified or Fellow Member of recognized actuarial bodies.
Minimum 8–10 years’ experience in actuarial.
Proven experience in leading and managing actuarial teams, mentoring, and driving performance.
Demonstrated success in strategic planning, financial projections, risk management, and product development for life insurance products.
Extensive knowledge of actuarial principles, methodologies, and regulatory requirements.
Experience collaborating with regional business leaders and senior management for strategic decision-making.
Track record of ensuring regulatory compliance and adherence to reporting standards.
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If you are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com quoting the Job Reference Number and Position by 10th January 2025. Only shortlisted candidates will be contacted.
Apply via :
Recruitment@jubileekenya.com