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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Senior Actuarial Valuations Specialist

Job Type

Full Time

Qualification

BA/BSc/HND

Experience

8 years

Location

Nairobi

Job Field

Insurance

Job Description

Ensure provision of Actuarial Services to Old Mutual Assurance Kenya by working closely with the Business Entities and other Group Functions to meet their needs. This includes reserving, pricing, product reviews, experience reviews and solvency and capital management

Conduct accuracy checks, and analyses data to draw conclusions and make recommendations

Ensure accuracy of the results and adherence to standards, regulations and best practices.

Generate actuarial reports on various technical issues to Management.

Key Tasks and Responsibilities

Technical Actuarial Support: Conduct and/or review internal actuarial liability valuations, analysis of profitability/surplus, calculation and analysis of embedded value using Prophet and other tools provided

Support with the appointed actuary’s reports and collaborate with the appointed actuary to produce the Financial Condition Report

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

Solvency and Capital management: Carry out solvency computation for the entity on the various solvency regimes reported by the business including any required 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 and perform stress and scenario analysis on the plan numbers

Reinsurance Support: Carry out a reinsurance analysis to explore ways to optimise reinsurance arrangements

Reporting and Documentation: Support in the preparation of reports and presentations to management and boards

Risk Management support: Assist the business units and risk officer in identifying, quantifying and monitoring risks (insurance, market, credit risks etc.) where appropriate

Investment Strategy support: Support to develop/formulate appropriate investment strategies and/or review and monitor the adherence to mandates

Learning and development: Support the actuarial analyst team with learning of the actuarial concepts, methodology and reporting value chain

Business Partnering to support effective business decisions, meeting company objectives and optimising capital/risks

Other reasonable duties that may be assigned by management

Skills and Competencies

Analytical Skills

Business Awareness

Communication and Presentation skills

Good interpersonal skills

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

Working under minimal supervision

Proficiency in Microsoft Office

Knowledge and Experience

Strong actuarial technical skills

Extensive experience with IFRS17 concepts and reporting

Expert knowledge on reserving softwares preferably Prophet

Strong analytical skills

Strong programming skills

Knowledge of insurance regulations.

Qualifications

Bachelor of Actuarial Science or other related finance or mathematics degree

Minimum 8 years actuarial experience

Actuarial Knowledge: Nearly qualified or qualified actuary, 10 papers and above

• Ensure provision of Actuarial Services to Old Mutual Assurance Kenya by working closely with the Business Entities and other Group Functions to meet their needs. This includes reserving, pricing, product reviews, experience reviews and solvency and capital management
• Conduct accuracy checks, and analyses data to draw conclusions and make recommendations
• Ensure accuracy of the results and adherence to standards, regulations and best practices.
• Generate actuarial reports on various technical issues to Management.
• Conduct and/or review internal actuarial liability valuations, analysis of profitability/surplus, calculation and analysis of embedded value using Prophet and other tools provided
• Support with the appointed actuary’s reports and collaborate with the appointed actuary to produce the Financial Condition Report
• Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions
• Carry out solvency computation for the entity on the various solvency regimes reported by the business including any required 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 and perform stress and scenario analysis on the plan numbers
• Carry out a reinsurance analysis to explore ways to optimise reinsurance arrangements
• Support in the preparation of reports and presentations to management and boards
• Assist the business units and risk officer in identifying, quantifying and monitoring risks (insurance, market, credit risks etc.) where appropriate
• Support to develop/formulate appropriate investment strategies and/or review and monitor the adherence to mandates
• Support the actuarial analyst team with learning of the actuarial concepts, methodology and reporting value chain
• Business Partnering to support effective business decisions, meeting company objectives and optimising capital/risks
• Other reasonable duties that may be assigned by management

• Analytical Skills
• Business Awareness
• Communication and Presentation skills
• Good interpersonal skills
• Ability to prioritize and work on a wide range of deliverables at once
• Working under minimal supervision
• Proficiency in Microsoft Office
• Strong actuarial technical skills
• Extensive experience with IFRS17 concepts and reporting
• Expert knowledge on reserving softwares preferably Prophet
• Strong analytical skills
• Strong programming skills
• Knowledge of insurance regulations.

• Bachelor of Actuarial Science or other related finance or mathematics degree
• Minimum 8 years actuarial experience
• Nearly qualified or qualified actuary, 10 papers and above