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AMSCO   |   Nairobi, Kenya   |   Log in or register to see the closing date

Group Actuary

  • Bachelor's degree
  • Accounting, finance, banking, insurance
  • Expert (non-managerial)
  • Full Time
  • Permanent
Click to apply

Job Summary

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.


Job Overview

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.


Responsibilities

  • 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 Information

Salary rangeNot specified
Additional informationNot specified
Contract type: Permanent
Job type: Full Time
Location: Nairobi
Area of work: Accounting, finance, banking, insurance
Seniority: Expert (non-managerial)

Job Requirements

Required education: Bachelor's degree
Required relevant work experience: 10 years
Required skills: Risk management; Analytics; Business strategy; Financial reporting; Product development; Underwriting business
Required languages: English (Spoken: fluent | Written: fluent)

Click to apply

AMSCO

Consulting, business support, auditing

African Management Services Company (AMSCO) is a pan-African private sector development Group that provides bespoke human capital solutions. Our core focus is partnership-driven capacity and skills development to assist African SMEs in becoming leaders in their field. We offer a comprehensive integrated service package including tailor-made development programmes designed to fulfil the unique needs of businesses on the African continent. Since 1989, our legacy is built on passion for people combined with our ongoing ambition to turn sub-Saharan SMEs into thriving African enterprises.


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