Actuarial Analyst, Financial Reporting at Liberty Life

Job Summary

The Actuarial Analyst 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.

Core deliverables

• Take part in the preparation of valuation data working in conjunction with the relevant departments of the business.
• Carry out actuarial investigations such as expenses, Return on Assets, Mortality, Withdrawals etc. to 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.
• Provide assistance in the calculation of actuarial liabilities.
• Participate in product development in regards to modelling, profit, and sensitivity testing.
• Assist in product testing once it has been set up in the administration and valuation system.
• Conduct monthly data checks and communicate to the relevant departments to make changes so as to ensure there is correct and accurate of data in the system for use by staff.
• Participate in developing monthly reports for management and ensure compliance to IRA regulation.
• Assist in the carrying out projections during the annual budgeting process.
• Carry out market intelligence surveys and analysis of industry statistics to determine product relevance in the market.
• 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 compliance to the insurance act.
• Work closely with the underwriting department to determine the adequacy of premium rates.
• Monthly unit pricing for LLKs unit linked products.

Qualifications

• Bachelor’s degree in actuarial science, statistics, engineering, mathematics or any equivalent with a strong emphasis on mathematical proficiency
• Progress in the Institute of Actuaries examinations (4 papers).

Experience

• At least 1year experience in the insurance industry or similar experience in a reputable organization

Competencies

• Strong interpersonal skills
• Ability to prioritize tasks and manage time efficiently
• Team player
• Solutions - focused mindset
• Knowledgeable in financial solutions and market trends
• Business acumen
• Report writing skills
• Data Manipulation, Data Wrangling and Data Checking Skills
• Programming Skills: VBA, R or Python