Head of Actuary at Reeds Africa Consult

We are seeking a highly experienced and strategic Head of Actuary to lead our actuarial function in an insurance firm. The successful candidate will oversee actuarial operations, ensure compliance with regulatory requirements, and develop strategic financial policies to support business growth and profitability.

Job Description

Key Responsibilities

Actuarial Operations Management

• Oversee and direct all actuarial activities within the insurance department.
• Ensure the actuarial team operates efficiently and effectively.
• Develop and implement strategic plans for the Actuarial department.

Regulatory Compliance

• Ensure compliance with regulatory requirements regarding actuarial operations, as mandated by the Insurance Regulatory Authority (IRA) of Kenya.
• Stay updated on industry trends and regulatory changes affecting actuarial practices.

Risk Management & Financial Analysis

• Develop risk management strategies to mitigate financial risks.
• Conduct financial analyses to determine the financial impacts of new or existing insurance plans.
• Evaluate and manage potential risks across the organization.

Pricing & Product Development

• Analyze risk and profitability to design pricing models and develop new insurance products.
• Evaluate and approve insurance rates, premium levels, and rating systems.

Communication & Stakeholder Engagement

• Communicate complex actuarial concepts and analyses to non-actuarial stakeholders.
• Present findings to senior management and the board of directors.
• Engage with regulatory authorities and industry bodies.

Strategic Planning & Leadership

• Provide strategic insights to senior management on long-term financial and risk management implications.
• Lead the actuarial team and manage staff development.

Job Requirements

Requirements

• Education: Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field.

Professional Qualifications:

•  Fellowship Qualification within the Actuarial Field.
• Experience: Minimum 10 years of experience in actuarial roles, preferably in a leadership position within the insurance industry.