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  • Posted: Nov 12, 2020
    Deadline: Not specified
  • Old Mutual Kenya is based in Nairobi and is part of a larger group that offers solutions in long-term savings, asset management and investment. We offer solutions to individuals and corporates underpinned by our core values which are: Respect, Integrity, Accountability and Pushing beyond boundaries.
    Read more about this company


    Head of Actuarial General Insurance EA

    Job Summary 

    Reporting to the Group Actuary, the role holder is responsible for the preparation and presentation of the required actuarial and other reports to management, relevant UAP Holdings and/or BUs Boards and regulators especially Annual Valuation and Financial Condition Reports and Quarterly Solvency Statements to the regulator and various Boards and Management for UAP entities.

    Key Responsibilities:

    • Technical Actuarial Support; Conduct and/or review internal actuarial liability valuations for relevant insurance subsidiaries, analysis of profitability/surplus
    • Aggregation of Results; Collate, review and interpret actuarial results for all relevant insurance Bus
    • Undertake and review; Pricing, profitability, experience analysis, and other relevant actuarial investigations for relevant insurance BUs to inform business decisions.
    • Financial Modelling; assist with financial modelling of business scenarios/projects to inform business decision making.
    • Product/Services Development, Pricing and Management; provide technical input in product development exercises (BU Specific/Group wide), product lifecycle management and monitoring, existing products assessments and reviews, new products pricing and review of premium rates for existing products for insurance subsidiaries in the Group
    • Risk Management Support; assist BUs/Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate and formulating appropriate risk mitigation measures for insurance subsidiaries and having an enterprise wide/Group view
    • Economic Capital Modelling; assist with developing an Economic Capital Model for use in quantifying risk and risk-based capital requirements
    • Investment Strategy Support; assist in developing/formulating appropriate investment strategies and/or review of, and monitoring of investment strategies for insurance BUs
    • Reinsurance and Underwriting Support; develop/assist with review of appropriateness, adequacy and cost efficiency of reinsurance and underwriting arrangements in place and/or formulating the same for insurance BUs in the group
    • Strategy and Business Planning Support; assist with business planning financial projections, strategy development and review, market and competitor analysis, internal business/financial analysis and make proposals on the subsidiaries’ and Group’s medium to long term strategic plans
    • Experience Monitoring; Conduct claims experience analysis, expense investigations, persistency/business retention studies, and other relevant actuarial investigations for insurance BUs to inform business decisions and to assist in actuarial work
    • Special Projects; participate in special projects as would be requested by Group Management/BU Management/relevant Boards.
    • Systems Support; provide support to UAP’s Businesses in relation to administration and actuarial systems where possible

    Qualifications and Work Experience

    • B.Sc. Actuarial Science, M.Sc. Data Science
    • Partly Qualified Actuary from IFoA

    Skills and Competencies

    • Good communication and leadership skills with high personal integrity
    • Organized, numerate, analytical and fully computer literate
    • Familiar with the current IRA, RBA, CMA and Central Bank regulations
    • High levels of energy, drive, creativity and innovation
    • Strong work ethic and highly motivated
    • Good business acumen and a good understanding of the market
    • Self-starter who shows initiative
    • Strong actuarial technical skills
    • Strong analytical skills
    • Strong data programming skills

    Method of Application

    Interested and qualified? Go to Old Mutual Kenya on to apply

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

  • Send your application

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Average Salary at Old Mutual Kenya
KSh 137K from 3 employees

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