Reports to: Manager Actuarial

Job purpose


The job holder is responsible for assessing and managing risk by analyzing dataon claims, mortality and other factors to determine appropriate pricing for reinsurance products. To design and evaluate contracts, ensure financial reserves are adequate and assist in regulatory compliance.


Primary responsibilities


Responsible for providing... ongoing technical and analytical support to Reinsurance business.
Prepare reports on solvency projections of the corporation’s balance sheet.
Use financial models to simulate various scenarios and assess their impact on the corporation’s profitability and capital adequacy.
Assist underwriting functions on pricing and or review of life, health, and non-life rates.
Assist management to review and advise on results of asset liability modelling.
Assist in capital modelling for solvency and business planning purposes.
Analyze data, construct probability tables to forecast risk and liability to assist in decision making.
Support and perform quarterly and annual reserve reviews.
Review of retrocession arrangements.
Ensure proper coordination with the corporation’s external stakeholders, mainly the Regulators, Rating agencies and Auditors.
Transfer of reserving models to IFRS 17
Assist management in reviewing investment policy.
Participate in gathering and analyzing information received from internal and external sources.


Requirement/Person Specifications

Academic Qualifications

For appointment to this grade, an Officer must have:


Bachelor’s degree in any of the following disciplines: Bachelor of ScienceActuarial Science, Statistics, Mathematics, Risk Management, Insurance or its equivalent from a recognised institution.
Have at least four (4) years relevant work experience
Membership of recognized professional actuarial body.
Supervisory course lasting not less than two (2) weeks.
Fulfilled the requirements of Chapter six of the Constitution.
Must have passed at least 10 actuarial professional papers from a recognized actuarial professional body. more

Job Purpose

This job holder is responsible for assisting the Manager Internal Audit in providing independent, objective assurance and consultancy services aimed at adding value, assessing the effectiveness of the design and execution of the system of governance, risk management and internal controls to improve the operations of the corporation. In addition, internal auditors give assurance that... rules, procedures and regulations are being complied with in a manner consistent with the corporation's objective and policies to ensure internal controls are maintained and risks mitigated.

Primary Responsibilities

Duties and responsibilities at this level will entail: -


Conducting operations audits and assessing risks associated with the corporation’s operations, processes, financial practices, and compliance.
Identifying gaps and opportunities to improve business processes based on audit outcomes.
Evaluating and recommending enhancements to internal controls and revising operational and management policies/procedures as necessary.
Coordinating and monitoring the implementation of audit recommendations, including follow-up reviews.
Ensuring compliance with government laws and company regulations.
Preparing and coordinating the division’s budget and work plan.
Managing risk and quality control systems for the department, including updating the corporation's risk registers and reviewing risk management mechanisms developed by management.
Providing assurance on the corporation's risk management practices.
Designing, developing, and implementing audit plans, programs, and annual work plans.
Coordinating both scheduled and ad hoc audit activities and engagements.
Reviewing and maintaining audit findings, working papers, and the Corporation’s Audit Management System in line with audit guidelines.
Reviewing compliance with risk mitigation policies and statutory requirements.
Developing and implementing departmental work plans, procedures, charters, reports, and manuals.


Requirement/Person Specifications

Academic Qualifications


Bachelor’s degree in any of the following disciplines: Commerce. Business Administration (Finance or Accounting) option, Business Management (Finance or Accounting) Option, Economics, Strategic Management or equivalent from a recognized institution.
Master’s degree in any of the following disciplines: Commerce, Business Administration (Finance or Accounting) option, Business Management (Finance or Accounting Option, Strategic Management or equivalent from a recognized institution.


Professional Qualifications


Certified Public Accountant (CPA)K by KASNEB, or equivalent from a recognized institution.
Certified Information Systems Auditor (CISA).
Be a registered member and in good standing of the Institute of Certified Public Accountants of Kenya (ICPAK), ISACA, or CIA (K) or equivalent in good standing.
Fulfilled the requirements of Chapter six of the Kenya Constitution


Experience


At least six (6) years relevant work experience, of which three (3) years must have been in a supervisory position.
Previous Big 4 exposure would be an added advantage.


Other Requirements


Excellent planning organizing, problem solving and ability to work under pressure to meet deadlines.
Team player with excellent analytical and presentation skills.
Knowledge of auditing concepts and principles.
Proficiency in computer applications.
Possess excellent interpersonal and communication skills more

Reports to: Manager Actuarial

Job Purpose.


This job role actuary is to provide independent advice on the financial risks facing an insurer; determine profitability and sustainability of coverage of policies. The primary responsibility is to assess and manage the financial risks associated with reinsurance contracts and portfolios.


Primary Responsibilities

Duties and... responsibilities at this level will entail: -


Participate in interpretation of statutory and regulatory requirements in relation to actuarial functions, capital adequacy, technical provisions, and premium levels.
Contribute to the development of new/revised policies/guidelines.
Participate in ascertaining premium rates and accurate cash revenues to assist in accurate decision making.
Provide technical and analytical support to pricing in the underwriting department.
Contribute to actuarial and risk analysis to develop pricing for new and existing products in line with management and corporation’s objectives.
Participate in assessing risks associated with different reinsurance contracts and assist underwriters in evaluating their potential profitability.
Assist in independent actuarial/underwriting projects.
Participate in research on functional issues using a variety of resources.,
Analysis of data construction of probability tables to forecast risk and liability to assist in decision making.
Develop and train internal and external clients.
Prepare actuarial valuation for general and life business lines for quarterly and annual returns.
To support the development of new reinsurance products that meet market demands and corporations’ profitability targets by assessing the potential losses and profitability of such offerings/products.
Participant in budget process to include projection of future revenue streams and actuarial advisory of the overall business structure.
Assist underwriting functions on pricing and or review of life, health and non-life rates.
Participate in cross- functional teams to develop enhanced systems/processes/programs/policies to support business needs.
Participate in any other related actuarial duties


 Person Specifications

Academic Qualifications


Bachelor’s degree in any of the following disciplines: Bachelor of ScienceActuarial Science, Statistics, Mathematics, Risk Management, Insurance or its equivalent from a recognized institution.
Master’s degree in Actuarial Science, Statistics, Mathematics, Business  Administration, Strategic Management, Risk Management, Insurance or equivalent from a recognized institution.
Must have completed a leadership course not lasting less than two (2) weeks


Professional Qualifications


Be a member of Institute of Faculty of Actuaries (IFoA) or its equivalent with a minimum of 13 actuarial papers completed
Member of recognized professional actuarial body.
Fulfilled the requirements of Chapter six of the Constitution


Experience


At least five (5) years relevant work experience with at least one (1) year in management.
Demonstratable team management experience and interaction with Board of Directors.
Experience in IFRS 17 reporting and modelling will be an added advantage


Other Requirements


Possess excellent interpersonal and communication skills.
Excellent planning organizing, problem solving and ability to work under pressure to meet deadlines.
Team player with excellent analytical and presentation skills.
Knowledge of auditing concepts and principles more

JOB REF: KRC/HR/2023/01
PRIMARY RESPONSIBILITIES

He /she will also be required to be accountable for, but not limited to the following key areas;
Contribute to the development of reinsurance business from the French and English-speaking countries;
Solicit and receive business oers from existing and potential clients, assessing such oers and making appropriate recommendations to he Regional... Manager, West Africa in line with the Corporation’sunderwriting policy;
Carry out treaty and facultative underwriting of the business;
Grow the business in the allocated markets with a minimum of 20% per annum;
Translation and interpretation of oers, treaties, facultative and any other document from French speaking countries;
Review facultative acceptances regularly ahead of renewals and review treaty acceptances annually and analyze treaty slips;
Prepare renewal and new business quotation proposals to cedants and brokers;
Ensure the proper processing of all technical transactions;
Ensure accurate input of data and records for allocated markets in respect of premiums, claims etc in the reinsurance system;
Ensure appropriate maintenance of all relevant documentation;
Review the reconciliation of cedant and broker accounts and follow outstanding accounts due from them while also ensuring timely remittance of amounts due to them; and provide market information, statistics and reports as and when required;
Follow up on closings, premium collection and supervision of their allocation in liaison with the accountant;
Any other duties that may arise from time to time relating to the Corporation’s activities

PERSON SPECIFICATIONS:

Applicants should be holders of a Bachelor’s degree in Business, Insurance, Marketing, or related elds, and be holders of a diploma in CII or ACII or AIIK or their equivalent.
Applicants should be Fluent in both spoken and written French and English languages.
They should have 5 years of relevant experience in reinsurance / insurance in a reputable organization more