Job Ref. No. JLIL090
Position: Actuarial Supervisor
Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling Life, Pensions, General and Medical Insurance. Today, Jubilee is the number one insurer in East Africa with over 450,000 clients. Jubilee Insurance has a network of offices in Kenya, Uganda, Tanzania, Burundi and Mauritius. It is the only ISO certified insurance group listed on the three East Africa stock exchanges – The Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities Exchange. Its regional offices are highly rated on leadership, quality and risk management and have been awarded an AA- in Kenya and Uganda, and an A+ in Tanzania. For more information, visit www.JubileeInsurance.com. We currently have an exciting career opportunity for Actuarial Supervisor within Jubilee Life Insurance Limited. The position holder will report to the Regional Manager-Actuarial and will be based at Head office in Nairobi.
Role Purpose
The role holder provides actuarial modelling and reporting in product development & profit-testing, IFRS17, solvency, risk capital, management and financial reporting and regulatory compliance.
Main Responsibilities
1) Actuarial reporting for financial & regulatory compliance: Including actuarial reserving, IFRS17 modelling, Financial Condition Report, Solvency, Risk Based Capital reports
2) Product Development: -
a) Pricing, profit-testing, system set-up
b) Development of policy documents for new products
c) Developing illustrations for new products
d) Ongoing profitability monitoring of the product
e) Scenario & sensitivity testing
3) Actuarial experience analyses including mortality investigations; persistency; expenses; investment returns; analysis of reserves & surplus
4) Value of new business, embedded value & Asset Liability Management valuations
5) Projections and Budgeting: Projected actuarial reporting for financial statements & strategic planning
6) Actuarial risk technical modelling and use of internal models
7) Gives leadership and technical direction to staff under supervision in performing actuarial functional work
8) Perform other duties as may be assigned from time to time
Key Competencies
1) Accountability for results
2) Diligence
3) Team management
4) Actuarial judgement skills
5) Analytical Skills
Qualifications
1) Bachelor’s degree in Actuarial Science, Statistics, Mathematics, or any other related field.
2) Master’s degree will be an added advantage.
3) Professional Actuarial Papers (Minimum of 7 exams)
Relevant Experience
1) A minimum of 3 years experience, 1 in a supervisory role.
2) IFRS17 implementation experience/ technical aptitude
How to apply
If you are qualified and seeking an exciting new challenge, please apply via [email protected] quoting the Job Reference Number and Position by 5th September 2022.
Only shortlisted candidates will be contacted.