Old Mutual Kenya is based in Nairobi and is part of a larger group that offers solutions in long-term savings, asset management and investment. We offer solutions to individuals and corporates underpinned by our core values which are: Respect, Integrity, Accountability and Pushing beyond boundaries.

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Actuarial Valuation Specialist, Life

Job Type

Full Time

Qualification

BA/BSc/HND

Experience

5 years

Location

Nairobi

Job Field

Insurance

KEY TASKS AND RESPONSIBILITIES

Technical Actuarial Support: Conduct and/or review internal actuarial liability valuations for relevant insurance subsidiaries and analysis of profitability/surplus,

Review of external actuaries’ report and collaboration with the appointed actuaries to produce the Financial Condition Report.

Experience Investigations: Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions.

Product Profitability Review: Perform profitability analysis, experience analysis, and other relevant actuarial investigations for Old Mutual to inform business decisions.

Solvency and Capital management: Carry out solvency computation for the BUs on a risk-based capital basis including solvency stress tests.

Financial Modeling: assist with financial modeling of business scenarios/projects to inform business decision making.

Strategy and Business Planning Support: assist with business planning financial projections and solvency projections for the Business Units. Perform stress and scenario analysis on the plan numbers.

Reinsurance Support: Carry out a reinsurance analysis for the Life Kenya subsidiaries to explore ways to optimize on reinsurance arrangements.

Reporting and Documentation: Presentation of results and reports to businesses and subsidiary boards committees. Preparation of Board Papers and regulatory solvency and valuation reports.

Risk Management support: assist the Life Business Units and Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate. Formulate appropriate risk mitigation measures for the BUs and develop a risk register for an enterprise in CURA (Risk System).

Investment Strategy support: Develop/formulate appropriate investment strategies and/or review and monitoring of investment strategies for Old Mutual Life businesses.

Other reasonable duties that may be assigned by management.

SKILLS AND COMPETENCIES

Analytical Skills

Data Handling knowledge

Business Awareness

Problem Solving Skills

Communication and Presentation skills

Ability to prioritize and work on a wide range of deliverables at once

Working under minimal supervision

Good interpersonal skills

Proficiency in Microsoft office packages

KNOWLEDGE & EXPERIENCE

IFRS17 Knowledge

Familiar with the current Insurance regulations, Capital markets and Central Bank regulations

Strong actuarial technical skills

Strong analytical skills

Strong data programming skills

QUALIFICATIONS

Bachelor of Actuarial Science or other related finance or mathematics degree

Minimum 5 years actuarial experience

Actuarial Knowledge: Show progress with actuarial examinations, Minimum 7 papers from a recognized actuarial body

• Conduct and/or review internal actuarial liability valuations for relevant insurance subsidiaries and analysis of profitability/surplus
• Review of external actuaries’ report and collaboration with the appointed actuaries to produce the Financial Condition Report
• Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions
• Perform profitability analysis, experience analysis, and other relevant actuarial investigations for Old Mutual to inform business decisions
• Carry out solvency computation for the BUs on a risk-based capital basis including solvency stress tests
• Assist with financial modeling of business scenarios/projects to inform business decision making
• Assist with business planning financial projections and solvency projections for the Business Units. Perform stress and scenario analysis on the plan numbers
• Carry out a reinsurance analysis for the Life Kenya subsidiaries to explore ways to optimize on reinsurance arrangements
• Presentation of results and reports to businesses and subsidiary boards committees. Preparation of Board Papers and regulatory solvency and valuation reports
• Assist the Life Business Units and Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate. Formulate appropriate risk mitigation measures for the BUs and develop a risk register for an enterprise in CURA (Risk System)
• Develop/formulate appropriate investment strategies and/or review and monitoring of investment strategies for Old Mutual Life businesses
• Other reasonable duties that may be assigned by management

• Analytical Skills
• Data Handling knowledge
• Business Awareness
• Problem Solving Skills
• Communication and Presentation skills
• Ability to prioritize and work on a wide range of deliverables at once
• Working under minimal supervision
• Good interpersonal skills
• Proficiency in Microsoft office packages

• Bachelor of Actuarial Science or other related finance or mathematics degree
• Minimum 5 years actuarial experience
• Actuarial Knowledge: Show progress with actuarial examinations, Minimum 7 papers from a recognized actuarial body
• IFRS17 Knowledge
• Familiar with the current Insurance regulations, Capital markets and Central Bank regulations
• Strong actuarial technical skills
• Strong analytical skills
• Strong data programming skills