Manager, Actuarial Reserving at Jubilee Insurance

Job Ref. No: JHIL110

Role Purpose

The Manager Actuarial Reserving will play a pivotal role in ensuring the accuracy and adequacy of our medical insurance reserving processes. This position requires a seasoned actuary with a strong background in medical insurance, reserving methodologies, and regulatory compliance. The successful candidate will be collaborating with cross-functional departments to support strategic decision-making and uphold financial stability.

Main Responsibilities

• Actuarial reporting for financial & regulatory compliance. Develop and implement actuarial reserving strategies to accurately assess and project medical insurance liabilities under regulatory basis, IFRS17, Financial Condition Reporting, Solvency & Risk Based Capital.
• Evaluate and enhance existing reserving processes, ensuring alignment with industry best practices.
• Oversee the preparation and analysis of reserving reports.
• Collaborate with the finance team to ensure accurate financial statements and compliance with regulatory requirements.
• Utilize advanced actuarial modeling techniques to project future liabilities and assess the impact of various scenarios.
• Conduct regular reviews of models and assumptions, adjusting as necessary to reflect changing business conditions.
• Collaborate with other relevant departments to gather data and insights for reserving purposes.
• Work closely with risk management to assess and mitigate potential risks affecting the company's financial stability.
• Stay informed about regulatory changes impacting medical insurance reserving.
• Ensure compliance with all relevant regulations and reporting requirements.

Key Competencies

• In-depth knowledge of actuarial principles, reserving methodologies, and modeling techniques specific to the medical insurance industry.
• Strong understanding of insurance products, pricing, and risk assessment.
• Ability to interpret and analyze financial statements, reserving reports, and related financial data.
• Experience in managing financial projections and forecasting for medical insurance liabilities.
• Knowledge of relevant regulatory requirements and the ability to ensure compliance with industry standards and regulations.
• Excellent communication skills to convey complex actuarial concepts to non-technical stakeholders.
• Ability to adapt to changing business conditions and implement necessary adjustments to reserving strategies.
• In-depth knowledge of IFRS 17 standards and practical experience in their implementation

Qualifications

• Bachelor of Science in Actuarial Science, Mathematics, Statistics, or any other relevant field.
• Professional actuarial exams (nearly qualified actuary under IFOA/SOA or equivalent).
• IFRS17 and actuarial modelling expertise.
• Proven leadership experience.
• Strong knowledge of reserving methodologies, financial reporting, and regulatory compliance.
• Excellent communication skills, with the ability to convey complex actuarial concepts to non-technical stakeholders.

Relevant Experience

• Minimum five (5) years of experience in actuarial roles within the medical insurance industry.