Britam Foundation Job Vacancy : Senior Actuarial Analyst


Overall Job Purpose

  • Provide actuarial support to the assigned line of business and participate in the overall risk management of the group.

Senior Actuarial Analyst Job Key Responsibilities in Kenya

  • Actuarial Valuations:Calculate the technical reserves for the assigned line of business, using appropriate actuarial methodology, for published financial reporting, regulatory accounts and other purposes such as determination of appraisal/embedded value.
  • Product design, pricing & Set up: Determine technical premiums for new and repackaged products and new premiums for existing products based on experience reviews. Also set up product in administration and valuation systems.
  • Experience Reviews: Review and monitor experience on products to inform decision making, including profit testing of existing products and analysis of embedded value for life business. Also perform experience reviews to inform assumptions used in product pricing and actuarial valuations. These reviews include but not limited to; expense analysis, investment return, lapse and mortality and loss ratio performance.
  • Capital Management: Determine capital required to support the business under the Economic Capital/Capital Adequacy Framework and the solvency capital required under the current and Risk Based Capital regimes.
  • Regulatory Compliance: Assist in preparation of reports required by the regulator from the Actuarial Function. These include the reports on valuation of technical liabilities and solvency required on a quarterly basis and the Financial Condition report that is required on an annual basis.
  • Business Planning and Projections: Carry out projections for annual business planning, new lines of business and distribution channels including assessment of future capital requirements.
  • Business Analysis: co-ordinate high-level business analysis on sales, markets and other general macro-economic issues when required by the business.
  • Management Reporting: Provide comprehensive actuarial reports to the business on a quarterly basis and highlight key issues on an on-going basis.
  • Risk Management Support: Assist in implementation of Risk Appetite Framework through quantification of identified risks, risk limits and risk mitigation initiatives.

Qualifications for Senior Actuarial Analyst Jobs in Kenya

  • University Degree in Actuarial Science – or other highly numerate subject area.
  • Progress in Institute and Faculty of Actuaries UK examinations (8 papers) or equivalent.
  • Working experience of at least 2 years with history in a similar leadership role.

Competencies & Requirements

  • Knowledge of statistical techniques
  • Proficient knowledge on the insurance industry in Kenya
  • Knowledge of reinsurance arrangements and structures
  • Knowledge of statistical packages or programming (e.g. SAS, Visual Basic for Applications)
  • Think clearly and analytically.
  • Excellent oral and written communication skills

Key Performance Measures

  • Maintain high standards of professionalism.
  • Maintain high quality data used for actuarial valuations and experience investigations.
  • Maintain high competence with continuous professional development
  • Timely submission of results and reports where required

How to Apply

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