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Senior Actuarial Valuations Specialist

Nairobi, Kenya
This Job has Expired
Company Details
Industry: Banking
Description: Old Mutual Kenya is based in Nairobi and is part of a larger group that offers solutions in long-term savings, asset management and investment. We offer solutions to individuals and corporates underpinned by our core values which are: Respect, Integrity, Accountability and Pushing beyond boundaries.
Job Description


  •     Ensure provision of Actuarial Services to UAP Old Mutual Uganda 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
  •     Generate actuarial reports on various technical issues to the Head of Life Actuarial, Senior Management and Board of Directors.


  • Technical Actuarial Support; Conduct and/or review internal actuarial liability valuations for relevant insurance subsidiaries, analysis of profitability/surplus, calculation and analysis of embedded value using Prophet and MS Excel for UAP entities
  • Review of external actuaries’ report and collaboration with the appointed actuaries to produce the Financial Condition Report for the BUs.
  • IFRS 17 Project Support; Work closely with the wider Finance Team and Old Mutual Africa Regions to deliver on the key deliverables and operationalise IFRS17 reporting.
  • Product Profitability Review; Perform profitability analysis, experience analysis, and other relevant actuarial investigations for UAP BUs to inform business decisions.
  • Solvency and Capital management; Carry out solvency computation for the entity on a risk-based capital basis including solvency stress tests.
  • Financial Modelling; assist with financial modelling 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 Old Mutual entities. Perform stress and scenario analysis on the plan numbers.
  • Reinsurance Support; Carry out a reinsurance analysis for the East Africa subsidiaries to explore ways to optimize 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.
  • Risk Management support; assist the Business Units and Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate.
  • Investment Strategy support; Develop/formulate appropriate investment strategies and/or review and monitoring of investment strategies for the Old Mutual life businesses.
  • Other reasonable duties that may be assigned by management.


  • Bachelor of Actuarial Science or other related finance or mathematics degree
  • Minimum 8 years actuarial experience
  • Actuarial Knowledge: Nearly qualified or qualified actuary, 8 papers and above
Education: Degree, Diploma
Employment Type: Full Time
Contact Information
Name: Hiring Kenya

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