Actuarial Analyst

Date Posted: Nov. 11, 2022, 9:43 a.m.

ICEA Lion Group

Job Description

To provide support within the Actuarial department for the life insurance company on following areas: Valuation, Experience Investigation, Asset Liability Matching, IFRS 17 Modeling, Reinsurance and other actuarial special projects

Description of Core Duties


  • IFRS17 implementation support
  • Analyze data for reserving and assumption setting
  • Support the preparation of regulatory reports on a quarterly basis.
  • Accurate and timely calculation of technical provisions ensuring the application of appropriate valuation methodologies, models and assumptions.
  • Quarterly and annual valuations reporting and analysis
  • Collaborating with external actuaries and auditors on preparation of year end valuation reports, the Financial Condition Report and other Statutory reports.
  • Assist in developing and updating actuarial function related documents e.g., policies.

Experience Investigations:

  • Assist in the annual experience investigations on key assumptions for valuations.
  • Sensitivity analysis and impact assessment of the various assumptions.
  • Asset Liability Modeling (ALM):Assist with the quarterly preparation of ALM calculations and presentations to management

Profitability monitoring:

  • Sensitivity analysis and impact assessment of the various assumptions.
  • Assist in Value of New business calculation and analysis.
  • Provide support in reviewing and monitoring of internal experience and trends to ensure company product pricing meets profit targets
  • Prepare reports on product performance for management decision making

Education and Experience:

  • Bachelors’ degree in actuarial science, statistics, engineering, mathematics or any equivalent with a strong emphasis on mathematical proficiency
  • Progress in the Institute and Faculty of Actuaries examinations or any other recognized Actuarial bodies
  • At least 2 years’ experience in a life insurance actuarial function focused on valuation and any areas that may include pricing, modeling, experience investigations, reinsurance amongst others. 

Other attributes:

  • Good interpersonal communications skills
  • Good writing and verbal communications skills
  • Sensitivity to Customer needs
  • Ability to work as part of a team and independently

Technical Competencies:

  • Statistical/actuarial techniques
  • Proficient knowledge on the insurance industry in Kenya and regulatory requirements
  • Proficiency in Excel
  • Proficiency in Prophet coding will be an added advantage.
  • Experience on IFRS17 implementation will be an added advantage.

Core competencies:

  • Adhering to principles and values
  • Delivering results and meeting customer expectations
  • Self-driven and provide independent thinking
  • Relationship building and Networking within and outside the organization
  • Strong analytical skills
  • Learning and researching
  • Presenting and communicating Information
  • Achieving personal work goals and objectives
  • Connecting work to business objectives

How To Apply

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