Actuarial Associate (Fixed Term Contract) – (2400003A)
Job Purpose and Key responsibilities
Job Purpose:
The role holder is responsible for executing the day-to-day tasks/projects of the Actuarial unit by performing data checks and analysis, experience investigations, business projections and valuation of technical liabilities for the assigned LOB.
Key responsibilities:
- Coordinate with the assigned Segment in the preparation of valuation data.
- Timely calculation of accurate insurance technical liabilities provided for monthly financial reporting as well as carrying out Reserve Adequacy Tests. This includes preparation of reports on valuation results.
- Timely calculation of solvency on monthly basis.
- Carry out experience investigations as directed e.g. on expenses, product portfolio experience, intermediary loss ratio reports, etc.
- Prepare input data for the annual business planning exercise, strategy reviews and for capital management/solvency purposes as well as Stress and Scenario testing on the projections.
- Coordinate with the assigned Segment in the preparation of data for the management and board reports.
- Perform any other duties as may be assigned from time to time.
Knowledge, experience and qualifications required
Knowledge, experience and qualifications required:
- University Degree in actuarial science, statistics, engineering, mathematics, physics, economics or related field with strong emphasis on mathematical proficiency.
- Entry level.
- Progress in Institute of Actuaries examinations (2 paper).
Technical/ Functional competencies:
- Statistical techniques.
- Proficient knowledge on the insurance industry in Kenya.
- Knowledge of reinsurance arrangements and structures.
- Knowledge of statistical packages or programming (e.g. SAS, Visual Basic).
- Database management systems.