Actuarial Specialist – Financial Reporting

Location: Nairobi


Job Summary


We are a leading Insurance company affiliated to Liberty Group; a wealth management company represented in 18 African countries. We have a solid employee value proposition in place, and we are proud to be among Kenya’s top 10 employers. We use our knowledge and action to guide our customers on their journey to financial freedom. We believe in responding to the changing consumer and market needs through innovative solutions and technologically efficient processes. To help us advance this goal, we are seeking a talented, self-motivated and skilled individual of high personal integrity to fill the position of Actuarial Specialist – Financial Reporting.

 


Main Purpose


The Actuarial Specialist, Financial Reporting will be responsible for providing support in the day-to-day activities of the Actuarial department to ensure they are conducted in a timely manner. These responsibilities include data checks and analysis, experience investigations and reporting.

 


Key Responsibilities

 

• Manage the financial reporting process to ensure that valuations are completed in time and are accurate.
• Carry out expense monitoring and expense investigations and provide information to senior management for decision making purposes.
• Assist in the performance of statutory and non-statutory actuarial valuation of the life business.
• Determine the level of profitability and performance of new and existing products.
• Oversee the calculation of actuarial liabilities for pension, group risk and retail business.
• Participate in product development process in regard to modelling, profit and sensitivity testing.
• Assist in product testing once it has been set up in the administration and valuation system.
• Sign off data checks and actuarial liabilities.
• Participate in developing monthly reports for management and ensure compliance to IRA regulations.
• Assist in the carrying out projections during the annual budgeting process.
• Monitor per policy expense of products and the mortality experience to determine sufficiency of premiums for different products.
• Liaise with the external actuary on all actuarial aspects and ensure compliance with the Insurance Act.
• Review and sign off of unit prices before and after upload into the relevant administration systems.

 


Qualifications


• Bachelors’ degree in actuarial science, statistics, engineering, mathematics or any equivalent with a strong emphasis on mathematical proficiency.
• Progress in the Institute of Actuaries examinations (5 papers).

 


Experience


• At least 5 years’ experience in the insurance industry or similar experience in a reputable organization.

 


Competencies


• Basys knowledge highly desired.
• Knowledge of SAM and Economic Capital modelling is a plus.
• Prior experience with VNB, VIF and AoS modelling.
• Basic knowledge of IFRS17.
• Statistical techniques.
• Proficient knowledge on the insurance industry in Kenya.
• Knowledge of statistical packages or programming (e.g. R, SAS, Visual Basic for Applications).
• Database management systems.
• Relevant actuarial guidelines.
• Adhering to principles and values.
• Delivering results and meeting customer expectations.
• Following instructions and procedures.
• Coping with pressures and setbacks.
• Relating and Networking.
• Analyzing.
• Working with people.
• Applying expertise and technology.
• Learning and researching.
• Presenting and communicating information.
• Achieving personal work goals and objectives - personal motivation.

 


Application Procedure


If you meet the above requirements you are encouraged to forward your application and updated CV to hr@libertylife.co.ke by 2 nd September 2022 clearly stating, the job title on the subject heading. Liberty is an equal opportunity employer and actively encourages diversity. Please note only shortlisted candidates will be contacted.