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 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
modelling and matching to enable the company to come up with optimal investment
strategies.
· Analysis and advice on
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 exercise and
issues relating to the life fund including the deposit administration fund.
· Evaluate and provide
advice on current and prospective solvency position of the company.
· Evaluate and provide
advice on risk modelling, 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, 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 in at least seven
papers in Actuarial.
· 5 years 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 Thursday, November 17, 2022.