Senior Actuarial Officer

Role Overview

This position sits within the actuarial team of a reinsurance organisation and is responsible for delivering independent, objective analysis of the financial risks carried across the firm’s reinsurance portfolio. The role involves assessing how profitable and sustainable both existing and prospective reinsurance arrangements are, while also giving technical guidance on pricing, reserving, capital adequacy and asset-liability decisions. Day-to-day work centres on building and running financial models, reviewing contract-level risk, preparing solvency reporting and supporting underwriters with rate-setting across life, health and non-life business.

Key Responsibilities

• Develop and maintain actuarial models that simulate different risk scenarios, quantifying their effect on profitability, capital strength and the overall solvency position of the organisation.
• Prepare and present accurate reports on balance-sheet solvency projections, ensuring results are clear and actionable for management and external parties.
• Contribute to quarterly reserve reviews, helping to validate the adequacy of reserves and explain movements between periods.
• Support the transition of existing reserving approaches to IFRS 17, including data mapping, assumption setting and process documentation where required.
• Provide technical and analytical assistance to underwriting teams when pricing or reviewing life, health and non-life reinsurance rates, making sure decisions are grounded in sound risk assessment.
• Assist in capital modelling activities used for business planning and solvency purposes, including stress-testing linked to regulatory requirements.
• Evaluate retrocession arrangements to confirm they effectively transfer risk and align with the organisation’s risk appetite and financial objectives.
• Liaise with regulators, auditors and rating agencies, compiling information needed for external reviews and ensuring actuarial submissions are coordinated and accurate.

Requirements & Qualifications

• A bachelor’s degree in actuarial science, statistics, mathematics, commerce, business administration, risk management, insurance or another recognised equivalent field from an accredited institution.
• A postgraduate diploma in actuarial science from a recognised programme in Kenya or the UK, with at least four examination papers passed, or an equivalent actuarial qualification.
• CPA Part II or III from KASNEB, ACCA, or an equivalent professional accounting qualification from a recognised body.
• Current membership in good standing with a recognised professional actuarial body and/or the Institute of Certified Public Accountants of Kenya (ICPAK).
• A minimum of nine years of relevant actuarial or reinsurance experience within a reputable organisation, including demonstrated managerial capability, sound judgement and strong performance results.
• Excellent communication, interpersonal and stakeholder management skills, with the ability to work constructively across departments and with external partners such as regulators and suppliers.
• Strong analytical, negotiation and problem-solving abilities, supported by well-developed planning, organisation and time-management skills.
• Proven capacity to work under pressure and meet tight deadlines without compromising accuracy or quality.
• Compliance with the requirements of Chapter Six of the Constitution of Kenya, including integrity and leadership standards applicable to public office.