Senior Actuarial Officer - Grade KrRC 3A at Kenya Reinsurance Corporation Limited (Kenya Re)

Reports to: Manager Actuarial

Job purpose

• The job holder is responsible for assessing and managing risk by analyzing dataon claims, mortality and other factors to determine appropriate pricing for reinsurance products. To design and evaluate contracts, ensure financial reserves are adequate and assist in regulatory compliance.

Primary responsibilities

• Responsible for providing ongoing technical and analytical support to Reinsurance business.
• Prepare reports on solvency projections of the corporation’s balance sheet.
• Use financial models to simulate various scenarios and assess their impact on the corporation’s profitability and capital adequacy.
• Assist underwriting functions on pricing and or review of life, health, and non-life rates.
• Assist management to review and advise on results of asset liability modelling.
• Assist in capital modelling for solvency and business planning purposes.
• Analyze data, construct probability tables to forecast risk and liability to assist in decision making.
• Support and perform quarterly and annual reserve reviews.
• Review of retrocession arrangements.
• Ensure proper coordination with the corporation’s external stakeholders, mainly the Regulators, Rating agencies and Auditors.
• Transfer of reserving models to IFRS 17
• Assist management in reviewing investment policy.
• Participate in gathering and analyzing information received from internal and external sources.

Requirement/Person Specifications

Academic Qualifications

For appointment to this grade, an Officer must have:

• Bachelor’s degree in any of the following disciplines: Bachelor of ScienceActuarial Science, Statistics, Mathematics, Risk Management, Insurance or its equivalent from a recognised institution.
• Have at least four (4) years relevant work experience
• Membership of recognized professional actuarial body.
• Supervisory course lasting not less than two (2) weeks.
• Fulfilled the requirements of Chapter six of the Constitution.
• Must have passed at least 10 actuarial professional papers from a recognized actuarial professional body.