Actuarial Assistant at Kenya Reinsurance Corporation Limited (Kenya Re)

ACTUARIAL ASSISTANT- KRC/HR/2022/03

The Actuarial Assistant will ensure that the Reinsurer has an effective actuarial function capable of evaluating and providing advice to the Reinsurer regarding capital adequacy, technical provisions, premiums levels, pricing activities as well as compliance with related statutory and regulatory requirements. The actuarial function shall be required to evaluate and provide advice on the Reinsurer’s actuarial and financial risks, the Reinsurer’s investment portfolios and the valuation of assets, the insurer’s solvency position, including adequacy of capital for business and regulatory purposes as well as liability and loss provisions.

PRIMARY RESPONSIBILITIES

• Responsible for providing ongoing technical and analytical support to Reinsurance business
• Responsible for actuarial and risk analysis used to develop pricing for new and existing products in line with management’s and company’s objectives.
• Initiate, organize and manage Actuarial/ underwriting projects.
• Gather and prepare analysis based on information from internal and external sources.
• Utilize knowledge of mathematics, probability, statistics, principles of finance and business to problems in insurance.
• Research on functional issues using a variety of resources. Develop/ prepare reports and assist in the development of new/revised policies/ guidelines.
• Interpret Government regulations and internal policies, participate in preparation of documentation related to government filings/licensing.
• Prepare recommendations based on data summaries, trend analysis, financial analysis and business analysis.
• Analyze data, construct probability tables to forecast risk and liability to assist in decision making.
• Ascertain premium rates and accurate cash revenues to assist in accurate decision making.
• Participate in cross- functional teams to develop and enhance systems/ processes/programs/policies to support business needs.
• End to end reserving of several risk classes, Political, Property, Life, WIBA etc
• Support quarterly reserve reviews
• Perform quarterly reserve reviews
• External stakeholder management (Regulators, Rating agencies, Auditors)
• Internal stakeholder management (claims, finance, underwriting etc)
• Transfer of reserving models to IFRS 17
• Preparation of Board papers and follow up of Board directives
• Other roles in pricing, capital calculation and special projects

THE PERSON

• Applicants should possess a Bachelor’s degree in Actuarial Sciences, Statistics, Mathematics or its equivalent. 
• They should be holders of a minimum of seven (7) actuarial papers from the Institute and Faculties of Actuaries (IFOA).
• Applicants should have two to three years working experience in an actuarial office. 
• In addition, they should have excellent interpersonal and communication skills, good organization and management skills, advanced skills in mathematics and statistics. They should be team players and hold membership of a recognized professional actuarial body.