Actuarial Manager at MUA Kenya

JOB PURPOSE

• The Actuarial Manager is responsible for leading actuarial valuation, pricing, reserving, and risk management activities to ensure financial soundness, regulatory compliance, and sustainable business growth.
• The role provides strategic actuarial insights to support product development, capital management, financial reporting (IFRS 17/IFRS 4), and enterprise risk management, while ensuring robust governance and technical excellence within the actuarial function.

Main Responsibilities

• Financial Reporting & Valuation
• Lead statutory and IFRS (including IFRS 17 where applicable) actuarial valuations.
• Oversee calculation of technical provisions, reserves, and liabilities.
• Ensure timely and accurate financial reporting to regulators and auditors.
• Provide actuarial inputs into financial statements and Board reporting.
• Liaise with Finance on solvency, capital adequacy, and profit emergency analysis.
• Pricing & Product Development
• Oversee pricing models and ensure products are financially viable and competitive.
• Provide actuarial support in product design, benefit structures, and profitability projections.
• Conduct sensitivity and scenario analysis for new and existing products.
• Review and approve pricing bases and assumptions.
• Capital & Risk Management
• Support capital modeling, stress testing, and solvency monitoring.
• Contribute to ORSA (Own Risk and Solvency Assessment) processes.
• Identify actuarial risks and recommend mitigation strategies.
• Support reinsurance structuring and treaty evaluations.
• Data Analytics & Insights
• Ensure integrity and governance of actuarial data.
• Utilize predictive analytics to enhance risk selection and pricing accuracy.
• Provide experience investigations and trend analysis (mortality, morbidity, lapse, claims).
• Drive automation and optimization of actuarial models and reporting processes.
• Governance & Regulatory Compliance
• Ensure compliance with local insurance regulations and actuarial standards.
• Support regulatory submissions and actuarial certifications.
• Maintain documentation of models, methodologies, and assumptions.
• Coordinate internal and external audits related to actuarial matters.
• Stakeholder Engagement
• Provide actuarial advisory to Executive Management and Board Committees
• Collaborate with Underwriting, Finance, Risk, Claims, and Business Development teams.
• Act as a technical reference point for actuarial and non-actuarial stakeholders.
• Support strategic initiatives, mergers, acquisitions, or business transformation projects.
• Leadership & Talent Development
• Supervise and mentor actuarial analysts.
• Foster a high-performance, ethical, and analytical culture.
• Support actuarial trainees in professional development.
• Drive continuous improvement and innovation within the function.

Behavioral Competencies

• High integrity and professional ethics.
• Strong attention to detail and accuracy.
• Accountability and ownership mindset.
• Leadership and team development capability.
• Resilience and ability to work under regulatory deadlines.
• Effective communication and stakeholder influence.
• Continuous improvement and innovation orientation.

Academic Background & Relevant Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field.
• Progress toward Fellowship (FSA, FIA, or equivalent) with minimum regulatory requirement or fully qualified Actuary preferred.
• Membership in a recognized actuarial professional body.
• Certification in IFRS 17 implementation (advantageous).
• Minimum 5-8 years of actuarial experience within insurance or financial services.
• Experience in financial reporting and reserving.
• Exposure to pricing and product development.
• Prior supervisory or team leadership experience preferred.
• Experience interacting with regulators and auditors.