Purpose:
Responsibilities
of the Actuarial Analyst include Pricing and Product Development on
Microinsurance business, facilitating product approval, analyzing and reporting
on insurance contract liabilities, risk-based capital modelling for the
micro-insurance segment, IFRS 17 Reporting, and compliance with various
regulations and requirements.
Key
Primary Responsibilities:
Actuarial Valuation: Validating data and
performing actuarial valuation, including setting up valuation models and
estimating actuarial liabilities (UPR, OCR, IBNR, IBNER, DAC, UARR, ULAE, etc.)
to ensure that the company’s financial statements are accurate and comply with
regulatory requirements.
Insurance Contract Pricing: Reviewing pricing
of insurance contracts/products and developing pricing calculators to ensure
that they are priced competitively and meet business objectives.
Product Performance Review: Assessing sales
volumes, claims experience, expenses, and
distribution setup to identify areas for improvement and ensure that products are meeting business objectives.
Product Development: Conducting research,
developing pricing models, conducting profit testing, and other actuarial
modeling/testing to ensure that products are priced appropriately and are
profitable.
Risk-Based Capital Modeling: Computing
risk-based capital on a monthly basis and advising management accordingly to
ensure that the company has adequate capital to support its microinsurance
operations.
External Actuary Liaison: Liaising with
external actuaries and providing them with the necessary information,
documents, and records to execute their work in a timely manner.
Working with external actuaries to provide
value-adding reports to the business.
Management Reporting: Supporting the
preparation of monthly management reports.
Annual Financial Statements and Board Papers:
Supporting the preparation of annual financial statements, board papers, annual
budgets, and other strategic plans.
Any other duties as assigned by supervisor.
Qualifications
Academic
Qualifications
Bachelor’s Degree in either Actuarial Science,
or Data Science, or Statistics, or Computer Science, or any other related
field.
Professional
Qualifications
Progress in Professional Examinations, with at
least 2 papers completed.
Knowledge
and Experience
Position: Actuarial Analyst Department: Actuarial
Reports To: Group Actuary Supervision: None
Employment Type: Contract Location: Nairobi
1 year of experience
Skills
and Attributes
Proficiency in Word, Advanced Excel,
PowerPoint.
Good programming skills: Oracle
BI/Python/R/C++/Power BI.
Good knowledge of regional financial &
Insurance regulatory requirements.
Strong communication and written skills, and
proficiency in English.
Displays high motivation, flexibility,
adaptability, initiative, self-drive, and is a fast learner.
How
To Apply
