Assistant Actuary at Kenya Reinsurance Corporation Limited (Kenya Re)

KRC/HR/2021/02

The Actuary will ensure that the Reinsure has an effective actuarial function capable of evaluating and provid-ing advice to the Reinsure. regarding capital adequacy, technical previsions, 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 Reinsurers actuarial and finan-cial risk, the Reinsurers investment portfolios and the valuation of assets the insurers solvency position, including adequacy of capital for business and regulatory purposes as well as liability and loss provitions.

Primary Responsibilities

• Responsible for providing ongoing technical and analytical support. 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 tram internal and external soured.
• 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 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 015010in cross – functional teams to develop fine/enhanced systems /processes /programs /poli-cies to support business needs.
• End to end reserving of several risk classes, Political, Property, Life, MBA 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 Bachelors degree in Actuarial Science, Statistics, Mathematics or its equivalent. They should be holders of a minimum of 7 actuarial professional papers of IRA
• Applicants should have six (6) years’ experience,. In addition they should have excellent interpersonal and communication .116 good organization and management skill, advanced skills in mathematics and statistics. and should be team players and have strong leadership skill.
• Experience in busy actuarial office for atleast 2 years
• Membership of recognized professional actuarial body
• Passed non-life actuarial reserving specialist paper
• Experience in reinsurance, international reserving and in Prophet
• A post graduate diploma in actuarial science will be an added advantage.