Assistant Manager – Acturial Services at Kenya Orient Insurance Limited

PURPOSE OF THE POSITION:

The position is responsible for providing actuarial services through evaluation and providing advice regarding technical provisions, premium pricing and compliance with related statutory and regulatory requirements by ensuring the company’s technical functions are carried out in a prudent and transparent manner

KEY TASKS, DUTIES AND RESPONSIBILITIES

• Preparation of data to be used in calculation of technical provisions, ensuring sufficiency and quality on a monthly basis.
• Determine and monitor the level of profitability and performance of products including scenarios and sensitivity testing on a quarterly basis.
• Asset liability modelling and matching to enable the company come up with optimal investment strategies.
• Analysis and advice on distribution of surplus.
• Experience analysis of expenses and lapses.
• Evaluating the embedded value on a half yearly basis.
• Cession of group business premium data on a quarterly basis.
• Creation and implementation of IFRS 17 models.
• Liaison with the finance department on the implementation of IFRS 9.
• Facilitate reinsurance treaty contracts and renewals
• Analysis of industry statistics and monitoring of key metrics including those supporting credit ratings.
• Ensuring compliance with related statutory and regulatory requirements.
• Evaluate underwriting policies and reinsurance arrangements.

REQUIREMENTS

• Bachelor of Science (Actuarial Studies) from a recognized university.
• Pass in at least seven papers in Actuarial.
• 5 years relevant experience.