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  • Posted: Jun 4, 2022
    Deadline: Jun 17, 2022
  • Never pay for any CBT, test or assessment as part of any recruitment process. When in doubt, contact us

    CIC Insurance Group Limited, commonly referred to as CIC Group, is an insurance and investment group that operates mainly in Kenya, Uganda, South Sudan and Malawi
    Read more about this company


    IFRS 17 Actuarial Lead

    Main Responsibilities

    IFRS17 transition and reporting

    • Technical modelling, actuarial computations, and reporting under IFRS17 methods.
    • Develop controls, model audit trails, validation and documentation around estimates and judgement in IFRS17
    • implementation for data and results consistency, completeness, and accuracy.
    • Modelling  financial statements under IFRS17 basis and comparatives to IFRS4.
    • Testing products to examine their technical and operational feasibility under IFRS17.

    System set-up

    • Setting up product models and reporting on actuarial and IFRS17 software
    • User Acceptance Testing

    Projections and Budgeting

    • Projected actuarial cash flows under IFRS17 budgets

    Financial and regulatory reporting

    • Inputs to regulatory reports i.e., Financial Condition Report, Solvency, Risk Based Capital report
    • Support stakeholders with actuarial inputs: Finance, appointed actuary and audit/ assurance teams on IFRS17 reporting within monthly, quarterly and end year reporting timelines

    Profit testing

    • Profit-testing of products under IFRS17 and recommendations on optimal treatment of onerous contracts
    • New product development reporting: Technical analysis under IFRS17

    Actuarial analyses

    • Analysis of value of new business, embedded value and Asset Liability Management valuations
    • Risk assessment, management, and reporting under IFRS17 reporting

     Key Deliverables

    • Fulfill IFRS17 implementation for the Group
    • Appropriate pricing to achieve target profit criteria set by executive management
    • Actuarial reporting for regulatory compliance and financial statements.


    Academic Qualifications

    • Bachelor’s Degree in Actuarial Science, Statistics, Mathematics or any other related field

    Professional Qualifications 

    • Professional actuarial exams (associate under IFOA/SOA or equivalent) is a mandatory requirement
    • Accounting qualification will be an added advantage

    Relevant Experience

    • Minimum of six (6) years’ relevant experience in the life insurance industry, two (2) of which is at a supervisory level.

    Skills and Attributes

    • Entrepreneurial Spirit
    • Market Awareness
    • Customer Focus
    • Continuous Innovation
    • Ownership and Commitment
    • Team Spirit

    Method of Application

    Interested and qualified? Go to CIC Insurance on to apply

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