Actuarial Analyst - GI

Actuarial Analyst

Job Purpose

To provide actuarial support to the assigned line of business (LOB) and participate in overall risk management for the company.

Key Responsibilities

• Select appropriate reserve calculation methods and calculate reserves.
• Provide analysis to support the renegotiation of existing contracts.
• Provide input in product development for the assigned LOB.
• Provide inputs into product pricing and setup in the actuarial pricing and valuation system.
• Review and monitor experience on all products to inform decision making, including profit testing of existing products.
• Provide comprehensive actuarial reports to the business each quarter and highlight key issues on an ongoing basis, including solvency and capital monitoring.
• Address all areas raised by the Insurance Regulatory Authority (IRA) in their risk inspection and continue to highlight emerging risks.
• Perform any other duties as may be assigned from time to time.

Knowledge, Experience and Qualifications

• University Degree in Actuarial Science, or another highly numerate subject area.
• Good progress in examinations from the Institute and Faculty of Actuaries or any equally recognized professional actuarial body (attempted and passed at least 8 actuarial exams).
• At least 4–6 years' experience in an actuarial or product development function in a mature insurance or financial services institution.
• Experience across product lines preferred, i.e., life and non-life.
• Proven experience working across functions and with multiple stakeholders.
• A keen eye for innovation in the insurance and financial services space preferred.

Technical/Functional Competencies

• Statistical techniques.
• Proficient knowledge of the insurance industry in Kenya.
• Knowledge of reinsurance arrangements and structures.
• Knowledge of statistical packages or programming (e.g., SAS, Visual Basic).
• Database management systems.