Head Of Actuarial: Business Delivery


Responsible for the delivery of key actuarial outputs to support Liberty Life Kenya’s risk management, capital management, product development and financial reporting capabilities with the aim of maximising embedded value.




• Scope the requirements of IFRS17 with respect to our product portfolio and chart out a plan to ensure full compliance. Support any developments required during the transition years
• Lead the team in the implementation of IFRS17
• Develop a Service Level Agreement (SLAs)/ Terms of reference (ToR) between actuarial and key stakeholders for delivering the requirements of the Actuarial Function
• Support the implementation of the ideal investment strategy to ensure the company is able to meet its liabilities as they become due
• Ensure regulatory actuarial reports for both quarterly and annual reporting are prepared and submitted.
• Liaise with the Chief Actuary in the development of the actuarial strategy and work plan for the function so as to support the overarching company strategy
• Supervise, mentor and coach staff in the actuarial department Operational
• Create a repository of the documentation of the underlying methodologies used in the actuarial processes and any deviation from experience analysis results
• Perform reinsurance optimisation exercise and provide input on LLK’s reinsurance strategy
• Perform the assessment of current and future business plans and their impact on the profitability, market position and future fit of the product suite
• Develop reports and management information dashboards to support discussions at EXCO, Group and Board discussions
• Co-ordinate the preparation and review of various board papers within the function for Joint Actuarial, Audit and Risk Committee and Investment committee board meetings
• Support the Chief Actuary to co-present the actuarial board pack required for board reporting
• Provide technical product support to the Product Innovation Committee and Liberty Africa to ensure development of relevant products that meet market needs and the profitability objective of the company
• Prepare the technical product document for new products being developed
• Ensure that all governance requirements for product approval have been met, that is, Product approval committee, appointed actuary and board committees, regulatory approval
• Unlock any regulatory support required around product development and ensure continuous relationship building with the regulator
• Ensure the development of a robust actuarial control environment that is aligned to Group policies and standards as well as actuarial best practice.
• Carry out a compliance review of the Group’s Standard for spreadsheet models; ensure that model validation and updates are done at least annually
• Support the automation of the manual or semi-manual actuarial processes
• Ensure compliance with the Group’s model risk policy and Model Validation Policy
• Perform an independent model review of other models developed and used in other sub-functions within actuarial to ensure the accuracy of those models
• Ensure any matters highlighted in the Financial Condition Report are resolved expeditiously.
• Support the internal working committees- Pricing, innovation, operations committee etc



1. Bachelors’ degree in actuarial science, statistics, engineering, mathematics or any equivalent with a strong emphasis on mathematical proficiency
2. Masters’ Degree in a Business-related course (Preferred)
3. Fellow of the Institute of Actuaries (15 papers)
4. Ten years’ experience in the insurance industry five of which must be in senior management in an actuarial function in a reputable organization



1. Formulating strategies and concepts
2. Entrepreneurial and commercial thinking
3. Planning and organizing
4. Relating and Networking
5. Persuading and influencing
6. Presenting and communicating Information
7. Leading and supervising
8. Creating and innovating
9. Statistical techniques
10. Knowledge of statistical packages or programming (e.g., SAS, Visual Basic for Applications)
11. Actuarial calculations (reserves, embedded values, tax, unit pricing, statistics, experience investigations)
12. Relevant legislative requirements (IRA, Companies Act, Income Tax)



If you meet the above requirements you are encouraged to forward your application and updated CV to hr@libertylife.co.ke by 18th November 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.