Actuarial Manager General Insurance at Britam

Job Purpose and Key responsibilities

Reporting to the Chief Actuary, the role holder will provide actuarial support to business and participate in overall risk management for the company. He/she is expected to lead and manage a team that is all rounded and highly motivated to achieve both their personal and career objectives.

Key responsibilities

• Provide input into underwriting strategy and rules for General Insurance, Kenya insurance business
• Analyse statistical data in order to determine rates for different risks in acceptance of proposals for new policies and products in conjunction with the underwriting department 
• Review the product performance with regards to their claims and expense experience and advise on appropriate pricing.
• Provide analysis to support the application of appropriate reinsurance arrangements and provide inputs to the reinsurance management strategy. 
• Working with the risk and compliance department in the measurement quantification of operational risk in General Insurance, Kenya business
• Provide leadership to the team in determining and calculating all GI insurance contract reserves.
• In charge of developing the Asset Liability Management framework for the general  business and working closely with the Capital management team and the investment team to actualize the ALM framework.
• Coordinate the preparation of business plans/budgets and capital management initiatives for the life business.
• Provides input to the enterprise risk management by conducting stress and scenario testing, reviewing the risk appetite statements, etc.
•  Ensuring compliance to IRA regulation and other relevant regulations.
• Supervising, mentoring and coaching staff under supervision
• Work closely with the finance function, appointed actuary and external auditor in the preparation of financial statements and the disclosure requirements.
• Be highly conversant with IFRS 17 requirements and have the relevant skills to implement the new standard.
• Make presentations to management and board on the performance of the business, including financial impacts of actions taken by management and the board.
• Perform any other duties as may be assigned from time to time.

Key Performance Measures

• As described in your Personal Scorecard

Knowledge, experience and qualifications required

• University Degree in actuarial science, statistics, engineering, mathematics, physics, economics or related field with strong emphasis on mathematical proficiency
• 7-9 years’ of relevant actuarial experience in an actuarial function with a company with a similar  maturity level as Britam. 
• Fellow of the Institute of Actuaries or any other recognised actuarial body.

Change Leaders in Britam need to:

• Strategically lead a function to service customers from a sustainable and growing customer base whilst increasing profit;
• Continuously configure and adapt the functional area to most effectively suit the future view of the business;
• Introduce new concepts so that they are adopted appropriately at the right time (manage the rate of change);
• Be in touch with the changing industry, customer needs and international best practice; 
• Improve the efficiency of the function by appropriately challenging managers about operational and tactical issues; 
• Ensure the function has the most appropriate people capability through effective inspirational leadership, people development, and optimised succession planning; 
• Ensure clarity of expectations for individuals in the function and other stakeholders across the group;
• Facilitate functional integration; 
• Ensure the development and establishment of appropriate behaviour and values (culture) within the function that aligns with the strategic direction and values of the business; 
• Co-ordinate between functions and divisions to ensure optimisation of the value chain and resources; 
• Ensure alignment of strategy, objectives and deliverables within the function;
• Develop innovative partnerships and distribution channels to increase Britam’s market penetration;
• Ensure a seamless experience for clients;
• Appropriately allocate funds and capital to maximise shareholder value;
• Adequately manage operational risk;
• Increase operational efficiency; 
• Provide access to accurate and consistent information and services across all channels;
• Improve quality and speed of decision making across the business.