Job Summary
The role holder will be responsible for providing actuarial and data analytics support to the general insurance business and participate in the overall risk management for the company.
Key Responsibilities
- Actuarial valuations: Assist in the accurate calculation & monitoring of technical reserves using group reporting.
- Assist in the implementation of key actuarial analytics on various trends that will inform product restructure, new product features and cost control measures for existing products.
- Identify, monitor, and analyse market, financial developments and other market environmental factors so as to identify underlying trends.
- Assist with data validation, including checking internal consistency of data, and reviewing quality of supplied data.
- Review/Prepare industry analysis and peer review to provide market intelligence.
- Provide feedback to management, ICT and other relevant stakeholders regarding analysis performed.
- Provide analysis to support the application of appropriate reinsurance arrangements.
- Make business recommendations based on market needs, existing product performance, and competitor analysis, in order to increase sales volume and profitability. Perform calculations in relation to Asset Liability Matching (ALM), economic capital and solvency assessment of the Company.
- Strategy and Business Planning Support; assist with business planning financial projections, expense analysis and solvency projections for the Business Units. Perform stress and scenario analysis on the plan numbers.
- Support design, pricing and set-up of products in the administration system.
- Product Profitability Review; Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions.
- Monitor and investigate underwriting & claims experience and provide insights on products for specific lines of business.
- Project involvement for running projects that may require actuarial input.
- IFRS 17 Project Support: Work closely with the IFRS 17 lead and assist with dry runs, modelling and transitions.
- Embrace governance requirements with respect to KYC/AML/Data protection requirements per governing Acts.
Qualifications
- BSc. Actuarial Science, Statistics, Mathematics or related qualification
- Progress in Institute and Faculty of Actuaries UK examinations (at least 6 papers) or equivalent
- Member of The Actuarial Society of Kenya
- Minimum of 4 years’ experience in the insurance industry or similar experience in a reputable organisation
Experience
- Minimum of 4 years’ experience in the insurance industry or similar experience in a reputable organisation
Competencies
- Advanced knowledge of actuarial software in terms of capabilities and output
- Knowledge of insurance industry Statistical techniques Knowledge of reinsurance arrangements and structures
- Knowledge of statistical packages or programming (e.g. SAS, Visual Basic)
- Business acumen
- Stakeholder relationship management
- Formulating strategies and concepts
- Entrepreneurial and commercial thinking
- Planning and organizing
- Relating and networking
- Working with people
- Adapting and responding to change
- Deciding and initiating action
- Persuading and influencing
- Presenting and communicating information
- Leading and supervising
- Creating and innovating
- Adhering to principles and values
If you meet the above requirements, you are encouraged to forward your application and updated CV to [email protected] by 22nd October,2024. Clearly state the job title on the subject heading.
Heritage is an equal opportunity employer and actively encourages diversity. Please note that only shortlisted candidates will be contacted.
