Job verified by Fuzu
AMSCO | Nairobi, Kenya | Log in or register to see the closing date
Click to apply
- Bachelor's degree
- Accounting, finance, banking, insurance
- Expert (non-managerial)
- Full Time
Our client is a one-stop financial services provider offering innovative products and services in insurance, pensions, investments and trusts. Having delivered several innovative solutions to the market over the years, they have grown to become one of the largest financial service providers in the region with well-established operations in Kenya, Uganda and Tanzania.
As a member of senior management of the group, the holder is to contribute proactively to the development of our clients’ business strategies in banking, life assurance, general insurance, reinsurance, fund management, scheme administration, enterprise risk management, corporate finance and retirement benefits.
The scope of the position includes participation in the commercial management of companies, responsibility for the preparation and modelling of capital requirements under Risk Based Capital, Solvency II, responsibility for reserving and reporting processes; and robust input into pricing process. The jobholder will also develop and use statistical and financial models to inform financial decisions; advising on product pricing, establishing the amount of liabilities and setting capital requirements for uncertain future events as well as provide advice on the adequacy of risk assessment, reinsurance arrangements, investment policies, capital levels and stress testing of the future financial condition of the businesses within the group.
- Product Design and Pricing – product development, pricing, product management, premium adjustments and competition studies from all stakeholders perspectives
- Valuation/Financial Reporting – developing, creating and analyzing of financial projections (5 year business plans)
Profitability Analysis – modelling, profit testing, reserving (including with-profit attributions), solvency calculations, embedded value, financial forecasts and controls
Policy Dividends and Bonuses – determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies
Solvency Testing – advice to stakeholders on the design, funding and solvency requirements of occupational pension schemes and other long term employee benefits
Experience Analysis – establishing estimates for unpaid claim liabilities, unearned premium and other estimated liabilities (technical reserves) and certifications
Underwriting – provide actuarial expertise and review to other internal stakeholders such as Business, Pricing and Operations.
Risk Management – provide risk management and governance in line with new solvency regulations
Asset Liability Management and Investment Strategy – carry out investment strategy reviews including conducting asset liability modelling whilst managing asset transfers and transitions
Predictive Analytics – provide analysis, make inferences and disseminate to stakeholders the business implications of emerging financial results and related metrics, particularly source of earnings, mortality, capital impact etc.
- Internal and External Technical Support – staying abreast of industry (i.e. IFRS 17), regulatory and company changes or trends as they relate to the Kenyan insurance industry
General InformationSalary range
: Not specifiedAdditional information
: Not specifiedContract type
: PermanentJob type
: Full TimeLocation
: NairobiArea of work
: Accounting, finance, banking, insuranceSeniority
: Expert (non-managerial)
Job RequirementsRequired education
: Bachelor's degreeRequired relevant work experience
: 10 yearsRequired skills
: Risk management; Analytics; Business strategy; Financial reporting; Product development; Underwriting businessRequired languages:
English (Spoken: fluent | Written: fluent)
Click to apply