Senior Actuarial Manager

Job Title: Actuarial Manager

Reporting To: Chief Actuary

Job Purpose

Reporting to the Chief Actuary, the role holder will provide actuarial support to the business and participate in overall risk management for the company. He/she is expected to lead and manage a team that is all rounded and highly motivated to achieve both their personal and career objectives.

Key Responsibilities

• Provide input into underwriting strategy and rules for Life Insurance entities across the Group.
• Analyse statistical data in order to determine rates for different risks in acceptance of proposals for new policies and products in conjunction with the underwriting department.
• Review product performance with regards to claims and expense experience and advise on appropriate pricing.
• Provide analysis to support the application of appropriate reinsurance arrangements and provide inputs to the reinsurance management strategy.
• Work with the risk and compliance department in the measurement and quantification of operational risk in General Insurance entities.
• Provide leadership to the team in determining and calculating all Life insurance contract reserves.
• Develop the Asset Liability Management framework for the Life Insurance entities, working closely with the wider Actuarial Team and the investment team to actualize the ALM framework.
• Coordinate the preparation of business plans/budgets and capital management initiatives for the life business.
• Provide input to enterprise risk management by conducting stress and scenario testing, reviewing risk appetite statements, etc.
• Ensure compliance with IRA regulation and other relevant regulations.
• Supervise, mentor, and coach staff under supervision.
• Work closely with the finance function, appointed actuary, and external auditor in the preparation of financial statements and disclosure requirements.
• Be highly conversant with IFRS 17 requirements and have the relevant skills to implement the new standard.
• Make presentations to management and board on the performance of the various Life Insurance entities, including financial impacts of actions taken by management and the board.
• Perform any other duties as may be assigned from time to time.

Knowledge, Experience, and Qualifications Required

• University degree in actuarial science, statistics, engineering, mathematics, physics, economics, or a related field with strong emphasis on mathematical proficiency.
• 7–9 years of relevant actuarial experience in an actuarial function within a company of similar maturity level as Britam.
• Fellow of the Institute of Actuaries or significant progress with exams from a recognized actuarial body.

Technical and Functional Competencies

• Proficiency in statistical techniques.
• In-depth knowledge of the insurance industry in Kenya.
• Knowledge of reinsurance arrangements and structures.
• Proficiency in statistical packages or programming languages (e.g., SAS, Visual Basic).