Actuarial Officer

Date Posted: Oct. 31, 2022, 4:50 a.m.

APA Life Assurance

Job Description

KEY PRIMARY RESPONSIBILITIES

  • Product development which involves conducting research, developing pricing models, profit testing, drafting policy documents and filing to regulators upon approval/ratification by external actuaries.
  • Reviewing pricing of insurance contracts/products for Group Life, Credit Life and Individual Life.
  • Reviewing product performance after commercialization which involves assessing sales volumes, claims experience, expenses and distribution set up.
  • Validating data and performing actuarial valuation which involves setting up valuation models and estimation of actuarial liabilities; and working closely with external Actuaries
  • Compliance with IRA guidelines on actuarial function including preparation of the Financial condition report and filing of statutory returns.
  • Compute the embedded value for the life business.
  • Quarterly reserving calculations on the statutory and reporting base
  • Producing cash flows projections for budgeting and model office purposes with respect to new product development.
  • Liaising with colleagues from other departments, such as asset managers, marketing managers, accountants, customer service, underwriting, claims & reinsurance for business advise.
  • Develop and implement new products.
  • Investigate and formulate product strategies for new ventures and business partnerships
  • Provides input towards improvement of existing models and processes, where required.
  • Collect data from relevant sources and perform actuarial/mathematical analysis according to operational procedures.

ACADEMIC QUALIFICATIONS

  • Bachelor’s Degree in Actuarial Science

JOB SKILLS AND REQUIREMENTS

  • Achievement Orientation
  • High degree of self-motivation and can work independently with minimal supervision
  • Naturally inquisitive mindset, with a strong innovative tendency
  • Ability to manage or function in a team environment
  • Conceptual & Analytical Thinking
  • Flexibility
  • Problem-solving skills and ability to take initiative
  • Effective interpersonal and communication skills
  • Willingness to assume responsibility and show initiative
  • Understanding financial accounting: Generally accepted practice guidelines for financial accounting
  • Advanced Excel and Presentations skills, Programming language (R, Python, etc)

PROFESSIONAL QUALIFICATIONS

  • Studying towards completion of Actuarial Qualification, (with a minimum of 5 papers)

EXPERIENCE

  • Minimum 3 years relevant experience in a long-term insurance or financial sector or an actuarial environment.

How To Apply

Interested and qualified candidates should send their applications to [email protected] and [email protected] for Software Development role

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