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Job Description

The job holder will provide actuarial support that includes IFRS17 Modelling, Valuation, Experience Investigations, Asset Liability Matching, Reinsurance and other actuarial special projects.

Description of Core Duties:

Valuation:

• IFRS17 implementation support including modelling and assumption setting support.
• Accurate and timely calculation of technical provisions ensuring the application of appropriate valuation methodologies, models and assumptions.
• Quarterly and annual valuations reporting and analysis
• Preparation of regulatory returns on a quarterly or an ad hoc basis.
• 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.
• Production of and validation of actuarial reserves for statutory reporting and IFRS17
• Assist in developing, checking and streamlining actuarial models and processes.
• Assist in developing and updating actuarial function related documents e.g., policies.

Experience Investigation:

• Assist with the experience investigations on key assumptions for pricing and 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

Actuarial Modelling:

• Prophet modelling of liability, Value of New Business (VNB), Pricing, IFRS17, ALM, Capital Modeling and Experience Investigations.

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 passing actuarial qualification examinations.
• At least 4 years’ experience in an actuarial function focused on valuation
• Experience on IFRS 17 implementation
• Practical end to end Prophet modelling experience

Other attributes

• Good interpersonal skills
• Strong communications skills (written and oral)
• Sensitivity to Customer needs
• Ability to work as part of the team and independently

 Technical Competencies

• Statistical/actuarial techniques
• Proficient knowledge on the insurance industry in Kenya
• Knowledge of reinsurance arrangements and structures
• Knowledge of software packages or programming (e.g., Excel, R, Visual Basic for Applications)
• Product development knowledge
• Proficiency in Prophet coding

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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