Job Summary
The Actuarial Analyst is responsible for modelling and analysis of, at a minimum, technical provisions, solvency, premium and pricing activities, and compliance with related statutory requirements in order to measure, manage, and mitigate risks.
Roles And Responsibilities
- Modeling of actuarial valuations of technical liabilities and review results in order to ensure regulatory compliance and support reporting to management and the board.
- Carrying out data checks in order to identify gaps, errors, and areas of improvement in respect of data held in the system, and advising ICT about the necessary data clean-up.
- Compute risk-based capital position for the company and for competitors to ensure regulatory compliance and support reporting to management and the board.
- Support the Appointed Actuary in preparation of the Annual Technical Liability Valuation and review key matters of the Financial Condition Report.
- Participate in product development and design, including the terms and conditions of insurance contracts as well as carry out of premium and pricing activities.
- Development of models used for budgeting, forecasting and multi-year strategy development
- Support the preparation of financial statements, audit process, preparation of board papers and management reports.
- Computation of asset-liability matching position of the business.
- Carrying out analysis of actuarial and financial risks, investment policies and the valuation of assets, scenario and sensitivity testing and risk modelling by use of internal models.
- Preparation of data and actuarial analysis used for the annual credit rating process.
- Attending and participating in actuarial-based industry workshops and seminars to gain key insights on advancement from peers, the industry, consultants, and the regulators in order to improve technical skills
- Pursue personal development by embracing training facilities availed by the Company as well as personal initiative i.e. on the job training, professional training, e-learning and any other form of training that may be recommended to enhance competence with a focus on pursuing fellowship with selected actuarial body.
- Train new staff in the section
- Observe and uphold laid down company policies to enhance business performance
- Cultivate and maintain harmonious working relationship
Effectively perform any other duties assigned within the company for common good and achievement of set department’s objectives
Requirements
- Bachelor’s Degree in Actuarial Science or related discipline from a reputable university.
- Professional qualifications in at least 2 Actuarial papers.
- At least two (2) years’ experience in insurance actuarial work
- Must have expert knowledge and substantial working experience with spreadsheets and word processing; ability to utilize computer applications and software to produce reports and spreadsheets.
- Ability to gather, organize, summarize and analyze numerical and financial data.
- Must have above average mathematical and analytical ability to be able to analyze and resolve difficult problems.
- Excellent oral and written communication skills.
- Ability to work in a fast-paced environment and to organize/prioritize workload to meet demands.
- Willing to take initiative and good interpersonal skills.
- Have excellent verbal and written communication skills to be able to communicate data/information in oral and written form.
- Trustworthiness and discretion when handling confidential information.
- Must be a self-starter who is detail oriented
