Actuarial Valuations Specialist at Old Mutual Kenya

Job Description

• Ensure provision of Actuarial Services to UAP Old Mutual East Africa Group by working closely with the five business entities) and other Group Functions to meet their needs. This includes reserving, pricing, product reviews, experience reviews and solvency and capital management
• Conducts accuracy checks, and analyses data to draw conclusions and make recommendations
• Generate actuarial reports on various technical issues to Head of Actuarial and senior management
• JOB SUMMARY
• Ensure provision of Actuarial Services to UAP Old Mutual East Africa Group by working closely with the five business entities) and other Group Functions to meet their needs. This includes reserving, pricing, product reviews, experience reviews and solvency and capital management
• Conducts accuracy checks, and analyses data to draw conclusions and make recommendations
• Generate actuarial reports on various technical issues to Head of Actuarial and senior management
• KEY TASKS AND RESPONSIBILITIES
• Technical Actuarial Support; Conduct and/or review internal actuarial liability valuations for Kenya, Uganda, Tanzania, Rwanda and South Sudan
• Review of external actuaries’ report for Kenya and collaboration with the appointed actuaries to produce the Financial condition report for Kenya.
• Product Pricing and Review; Pricing products, profitability analysis, experience analysis, and other relevant actuarial investigations for UAP Kenya, UAP Uganda, UAP Tanzania, UAP Rwanda and UAP South Sudan to inform business decisions.
• Experience Monitoring; Conduct claims experience analysis and expense investigations and expense allocation exercises and other relevant actuarial investigations for UAP Short term insurance subsidiaries to inform business decisions.
• Solvency and Capital management; Carry out solvency computation for UAPIK on a risk-based capital basis including solvency stress tests.
• Carry out solvency review for the Uganda and Rwanda businesses which are moving to a Risk Based Capital regime.
• 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 for the UAPIK.
• Special Projects; participate in special projects as would be requested by the insurance companies within the group e.g. IFRS17 and mapping out of OPEX Standard Operating Procedures.
• Reinsurance Support; Carry out a reinsurance P&L analysis for the East Africa subsidiaries to explore ways to optimise on reinsurance arrangements.
• Reporting and Documentation; Presentation of results and reports to businesses and subsidiary boards committees. Preparation of Board Papers and regulatory solvency and valuation reports.
• SKILLS AND COMPETENCIES
• Analytical Skills
• Data Handling knowledge
• Business Awareness
• Problem Solving Skills
• Communication and Presentation skills
• Ability to prioritize and work on a wide range of deliverables at once
• Working under minimal supervision
• Good interpersonal skills
• Proficiency in Microsoft office packages

KNOWLEDGE & EXPERIENCE

• Familiar with the current Insurance regulations, Capital markets and Central Bank regulations
• Strong actuarial technical skills
• Strong analytical skills
• Strong data programming skills

QUALIFICATIONS

• Bachelor of Actuarial Science or other related finance or mathematics degree
• Minimum 4 years actuarial experience
• An actuarial student with minimum 8 credits from recognised actuarial body

Skills

Education

Bachelor Of Finance: Actuarial Science (Required)