Job Description
Ensure provision of Actuarial Services to Old Mutual Assurance Kenya by working closely with the Business Entities and other Group Functions to meet their needs. This includes reserving, pricing, product reviews, experience reviews and solvency and capital management
Conduct accuracy checks, and analyses data to draw conclusions and make recommendations
Ensure accuracy of the results and adherence to standards, regulations and best practices.
Generate actuarial reports on various technical issues to Management.
Key Tasks and Responsibilities
Technical Actuarial Support: Conduct and/or review internal actuarial liability valuations, analysis of profitability/surplus, calculation and analysis of embedded value using Prophet and other tools provided
Support with the appointed actuary's reports and collaborate with the appointed actuary to produce the Financial Condition Report
Product Profitability Review: Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions
Solvency and Capital management: Carry out solvency computation for the entity on the various solvency regimes reported by the business including any required solvency stress tests
Financial Modeling: Assist with financial modeling of business scenarios/projects to inform business decision making
Strategy and Business Planning Support: Assist with business planning financial projections and solvency projections and perform stress and scenario analysis on the plan numbers
Reinsurance Support: Carry out a reinsurance analysis to explore ways to optimise reinsurance arrangements
Reporting and Documentation: Support in the preparation of reports and presentations to management and boards
Risk Management support: Assist the business units and risk officer in identifying, quantifying and monitoring risks (insurance, market, credit risks etc.) where appropriate
Investment Strategy support: Support to develop/formulate appropriate investment strategies and/or review and monitor the adherence to mandates
Learning and development: Support the actuarial analyst team with learning of the actuarial concepts, methodology and reporting value chain
Business Partnering to support effective business decisions, meeting company objectives and optimising capital/risks
Other reasonable duties that may be assigned by management
Skills and Competencies
Analytical Skills
Business Awareness
Communication and Presentation skills
Good interpersonal skills
Ability to prioritize and work on a wide range of deliverables at once
Working under minimal supervision
Proficiency in Microsoft Office
Knowledge and Experience
Strong actuarial technical skills
Extensive experience with IFRS17 concepts and reporting
Expert knowledge on reserving softwares preferably Prophet
Strong analytical skills
Strong programming skills
Knowledge of insurance regulations.
Qualifications
Bachelor of Actuarial Science or other related finance or mathematics degree
Minimum 8 years actuarial experience
Actuarial Knowledge: Nearly qualified or qualified actuary, 10 papers and above