Main Purpose of the Job- (Job Summary)
The
role holder is responsible for providing support to General and Life Insurance
and other support functions in the Company such as Finance and Risk. The role
involves providing actuarial analysis to ensure the company is always aware of
its financial liability position, risks and market dynamics.
Main Responsibilities
General Insurance
- Review and test models and assumptions on
actuarial valuation for general insurance
- Price new products and provide ratings
guidelines for general insurance
- Provide actuarial input in the Product
Development Process for general insurance
- Monitor and analyze experience
investigations (claims, expenses etc.) and other actuarial investigations
for general insurance
- Formulate the investment strategy and
review of the investment performance to provide insights for general
insurance
- Review and provide insights on solvency
position and capital requirements
- Perform long term financial projections
to support decision making
- Review of reinsurance arrangements and
give recommendations on suitability of the reinsurance arrangements
- Prepare and present quarterly industry
analysis report for the subsidiaries and
- Prepare draft quarterly Board Papers
- Participate in special projects such as
the IFRS 17 implementation support as well as other projects requested by
general insurance.
Life Insurance
- Provide input into underwriting strategy
and rules for Life insurance business
- Review the product performance with regards
to their claims and expense experience and advise on appropriate pricing
- Provide analysis to support the application
of appropriate reinsurance arrangements and provide inputs to the
reinsurance management strategy
- Working with the risk and compliance
department in the measurement/quantification of financial and operational
risk in Life insurance business
- Co-ordinate the supplementary reporting
requirements to Annual Financial Reports
- In charge of developing the Asset Liability
Management framework for the life business and working closely with the
Management to actualize the ALM framework
- Coordinate the preparation of business
plans/budgets and capital management initiatives for the life business
- Provides input to the enterprise risk
management by conducting stress and scenario testing, reviewing the risk
appetite statements, etc
- Ensuring compliance to IRA regulation and
other relevant regulations
- Work closely with the finance function,
appointed actuary and external auditor in the preparation of financial
statements and the disclosure requirements
- Make presentations to management and board
on the performance of the business, including financial impacts of actions
taken by management and the board
- Perform any other roles as may be
assigned by management from time to time.
Knowledge & Experience
The
candidate must demonstrate and possess the following skills and qualifications:
- University Degree in actuarial science or
related field
- Minimum 5 years of relevant actuarial
experience in an actuarial function
- Fellowship Qualification (IFOA, SOA or
other recognized actuarial body)
- Exposure and experience in reporting,
including IFRS 17 implementations
- Strong data programming skills
- Good analytical skills
- Statistical techniques
- Excellent communication and presentation
skills
- Problem solving skills’
- Excellent interpersonal skills
- Leadership skills with high personal
integrity
How To Apply
Interested
candidates should send their CVs to hr@kenyanalliance.com using
the position as the subject of the email.