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Insurance Regulatory Authority of Uganda (IRA)    |   Kampala, Uganda   |   Log in or register to see the closing date

Actuarial Officer

  • Bachelor's degree
  • Accounting, finance, banking, insurance
  • Experienced (senior worker)
  • Full Time
  • Permanent
Click to apply

Job Summary

The Insurance Regulatory Authority of Uganda is mandated to regulate, supervise, monitor and control the business of insurance in Uganda. To strengthen its regulatory mandate, the Authority wishes to recruit suitable qualified Ugandans to fill the following vacancy.

Purpose of the job
Provide support for evaluating complex risks and assess the possibility and potential financial consequences of risks among licensed insurance players in accordance with the Insurance Act
How to apply
Interested candidates who meet the above criteria should submit their applications together with copies of detailed up-to-date CVs and at least three referees.


Responsibilities

  1. Verify estimates for outstanding claims, IBNR and unearned premiums and other technical provisions for insurance companies
  2. Review Actuarial valuation reports and liaise with consultants and actuaries on actuarial matters including products, valuations and critical business statistics required
  3. Monitor players in the insurance industry to ensure that they comply with the provisions on the Insurance Act on a risk sensitive basis
  4. Review products, premium rates and commission rates
  5. In liaison with the Legal Department, handle complaints from insurance players and the general public
  6. Collect data from industry reports and update the existing actuarial models
  7. Assess re-insurance and front the necessary arrangements


General Information

Salary rangeNot specified
Additional informationNot specified
Contract type: Permanent
Job type: Full Time
Location: Kampala
Area of work: Accounting, finance, banking, insurance
Seniority: Experienced (senior worker)

Job Requirements

Required education: Bachelor's degree
Required relevant work experience: 3 years
Required skills: Conflict and complaint resolution; General insurance; Reporting; Compliance; Risk analysis; Data collection; Product development
Required languages: English (Spoken: fluent | Written: fluent)

Click to apply

Insurance Regulatory Authority of Uganda (IRA)

GovernmentalCompany size: 20-50 people

The Insurance Regulatory Authority of Uganda (IRA) was established under section 14 of the Insurance Statute 1996 now The Insurance Act,(Chap213) Laws of Uganda, 2000(Insurance Act)which came into effect on 4th April 1996 and commenced operations in April 1997. The main object of the Authority is to ensure the effective administration, supervision, regulation and control of the business of Insurance in Uganda.


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