Job Purpose

The role holder is responsible for executing the day-to-day tasks/projects of the Actuarial unit by performing data checks and analysis, experience investigations, business projections and valuation of technical liabilities for the assigned Line of Business (GI or Life).

Key responsibilities

• Coordinate with the assigned Segment in the preparation of valuation data.
• Timely calculation of accurate insurance technical liabilities provided for monthly financial reporting as well as carrying out Reserve Adequacy Tests. This includes preparation of reports on valuation results.
• Prepare data to inform embedded value and analysis of surplus calculations.
• Timely calculation of solvency on monthly basis.
• Carry out experience investigations as directed e.g. on expenses, Return on Assets, lapse rates, Mortality etc.
• Prepare input data for the annual business planning exercise, strategy reviews and for capital management/solvency purposes as well as Stress and Scenario testing on the projections.
• Coordinate with the assigned Segment in the preparation of data for the management and board reports.
• Perform any other duties as may be assigned from time to time.

Key Performance Measures

• As described in your Personal Score Card

Knowledge, experience and qualifications required

• University Degree in actuarial science, statistics, engineering, mathematics, physics, economics or related field with strong emphasis on mathematical proficiency
• Progress in Institute of Actuaries examinations (3 papers)
• 0-2 years’ experience in a similar position 

Technical/ Functional competencies

• Statistical techniques 
• Proficient knowledge on 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