Role Purpose


This role involves conducting detailed risk assessments, pricing life insurance products, IFRS17 reporting, Prophet modelling, providing insights that inform strategic decision-making and ensuring that the company maintains a competitive edge in the market.


Main Responsibilities

 Operational


Actuarial reporting for both internal and regulatory compliance. This will include actuarial reserving, IFRS17 reporting, Financial Condition Reporting, Solvency and Risk Based Capital reports, profitability analysis
Develop, refine and maintain actuarial models.
Conduct detailed risk assessments and perform sensitivity analyses to support business initiatives.
Collaborate with Product Development teams to design new products and revise existing ones.
Perform Re-insurance analysis and optimization of treaties.
Conduct experience studies on mortality, morbidity, lapse rates, and other relevant factors to ensure that assumptions are up-to-date and reflective of actual experience.
Provide input into the development of risk management strategies and the setting of risk limits.
Perform other duties as may be assigned from time to time in line with your role.
Reporting key findings to senior management and board


Corporate Governance


Adhere to regulatory requirements and internal policies, ensuring compliance in all aspects.
Implement and uphold robust data protection and privacy practices, safeguarding customer information and ensuring confidentiality.
Participate in audits and internal control assessments, addressing any identified gaps or issues promptly.
Compliance. Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.


Culture


Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
Individualized Development Planning. Create personalized development plans that align with your career aspirations and the organization's objectives.


Key Competencies


Analytical Skills. Strong analytical abilities to interpret complex data, identify trends, and develop accurate actuarial models.
Problem-Solving. Aptitude for solving complex problems, particularly those related to pricing, risk assessment, and financial forecasting.
Attention to Detail. Meticulous attention to detail to ensure the accuracy of actuarial calculations, models, and reports.
Communication Skills. Ability to communicate complex actuarial concepts clearly and effectively to both technical and non-technical stakeholders.
Team Collaboration. Strong interpersonal skills to work effectively with cross-functional teams, including Finance, Underwriting, and Product Development.


Academic Background & Relevant Qualifications


Bachelor’s degree in actuarial science or any other related course.
Professional actuarial exams progress – Minimum 5 exams with recognized body such as IFOA, SOA
Minimum of 2 years of experience in an actuarial role, with a focus on life insurance.
Experience in prophet modelling.
Experience in pricing life insurance products and developing actuarial models is essential.