Kenya Orient Life Assurance
Job
Title: Assistant
Manager – Actuarial Services
Reports
To: General Manager
Purpose
of the Position: The position is responsible for providing
actuarial services through evaluation and providing advice regarding technical
provisions, premium pricing, and compliance with related statutory and
regulatory requirements by ensuring the company’s technical functions are
carried out in a prudent and transparent manner.
Key
Tasks, Duties and Responsibilities
· Preparation
of data to be used in the calculation of technical provisions, ensuring
sufficiency and quality on a monthly basis.
· Determine
and monitor the level of profitability and performance of products including scenarios
and sensitivity testing on a quarterly basis.
· Asset
liability modeling and matching to enable the company comes up with optimal
investment strategies.
· Analysis
and advice on the distribution of surplus.
· Experience
analysis of expenses and lapses.
· Evaluating the embedded value on a half-yearly basis.
· Cession
of group business premium data on a quarterly basis.
· Creation
and implementation of IFRS 17 models.
· Liaison
with the finance department on the implementation of IFRS 9.
· Facilitate
reinsurance treaty contracts and renewals.
· Product
development and design, including analysis of terms and conditions of insurance
contracts.
· Facilitate
and liaise with the appointed actuary, the IRA, and external auditors on
exercises and issues relating to the life fund including the deposit
administration fund.
· Evaluate
and provide advice on the current and prospective solvency position of the
company.
· Evaluate
and provide advice on risk modeling, use of internal models, where applicable,
and the company’s actuarial and financial risks.
· Provision
of quarterly reports to the IRA on the technical liabilities, the position of
the life fund as well as the solvency levels.
· Advising
the appointed actuary on the business process to aid the preparation of the
financial condition report and annual valuation report.
· Analysis
of industry statistics and monitoring of key metrics including those supporting
credit ratings.
· Ensuring
compliance with related statutory and regulatory requirements.
· Evaluate
underwriting policies and reinsurance arrangements.
Requirements
· Bachelor
of Science (Actuarial Studies) from a recognized university
· Pass at
least seven papers in Actuarial
· 5 years
of relevant experience
How to
Apply:
If
you are interested in the position and have the required qualifications, skills
and experience, kindly CLICK HERE and apply on or before
Wednesday, January 11, 2023.