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  • Posted: May 6, 2021
    Deadline: May 24, 2021
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  • Vision: To be the leading insurance industry regulator. Mission: To effectively regulate, supervise, develop the insurance industry and protect insurance beneficiaries. Core Values: (i)Accountability: -We exercise prudence in use of public resources entrusted to IRA. (ii)Team Spirit: -We work effectively with others across functional lines to a...
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    Actuarial Officer III

    DIVISION/SECTION Technical
    GRADE/LEVEL IRA 8

    IMMEDIATE SUPERVISOR Manager, Actuarial Services

    PURPOSE OF THE JOB (JOB SUMMARY)

    Responsible for the implementation of actuarial policies and procedures as well as monitoring and evaluating their effectiveness in achieving the Authority’s goals and objectives

    PRINCIPAL RESPONSIBILITIES

    Key Responsibilities Main task

    1. Actuarial Analysis Analyse applications for new products
    2. Analyse actuarial valuation and financial condition reports for life and general business insurance
    3. Identify actuarial parameters suitable for the insurance industry
    4. Analyse premium rates for general insurance companies
    5. Analyse technical reserves for insurers
    6. Develop and update IRA Electronic Regulatory
    7. System (ERS) new releases and templates
    8. Policy development and Compliance
    9. Participate in the formulation and development of actuarial policies and procedures
    10. Participate in on-site inspections of insurance companies

    Key Responsibilities Main task

    1. Carry out actuarial investigation and analysis of the insurers and advice the management and the Board
    2. Develop and update Risk Based Supervision (RBS) Models, Capital models and other Actuarial Models

    REQUIRED QUALIFICATIONS

    Education and knowledge

    1. Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or its equivalent.
    2. Minimum KCSE Grade B+
    3. Proficiency in ICT

    Experience

    This is an entry level job with no experience required

    Skills

    1. Strong communication and reporting skills;
    2. Strong organization and inter personal skills; and
    3. Good analytical, investigative, auditing and inspection skills

    Competences

    1. Professionalism;
    2. Ethical and integrity;
    3. Strategic thinking; and
    4. Ability to work under pressure, prioritize and multi task

    Method of Application

    The details of the positions may be accessed by visiting the IRA website, www.ira.go.ke. Important:

    Shortlisted candidates shall be required to present the following statutory documents during the interviews:
    Certificate of good conduct from the Director of Criminal Investigations, Clearance Certificate from the Higher Education Loans Board, Tax Compliance Certificate from the Kenya Revenue Authority, Clearance from the Ethics and Anti-Corruption Commission, and report from an approved Credit Reference Bureau.

    Terms of Offer:

    An attractive remuneration package commensurate with the responsibilities of the position will be negotiated with the right candidate.
    If you believe you are the right candidate for the above position and can clearly demonstrate your ability to meet the job requirements given, please submit your application (clearly indicating on the envelope the reference number and position you are applying for) with a detailed CV, stating your position, current remuneration, qualifications, experience, names and addresses of three referees, email and telephone contacts together with copies of your certificates and national identification card by close of business on 24th May 2021 to:

    Commissioner of Insurance & Chief Executive Officer
    Insurance Regulatory Authority
    Zep-Re Place
    P.O Box 43505-00100
    Nairobi

    EMAIL : [email protected]

    IRA is an Equal Opportunity Employer and Persons With Disabilities are encouraged to apply.

    Note: only shortlisted candidates will be contacted and canvassing will result in automatic disqualification.

    Note: Never pay for any training, certificate, assessment, or testing to the recruiter.

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