Team Leader Actuarial Services _ Britam Life at Britam

Job Purpose:

To provide actuarial support to the assigned LOB and participate in overall risk management for the company

Key responsibilities

• Select appropriate reserve calculation method and calculate reserves and complete valuations
• Determine the bonus stabilization reserve for DA business
• Provide analysis to support the renegotiation of the existing contracts
• Review overall mortality tables and trends
• Review Business Plan projections and sensitivity analysis
• Carry out an Analysis of Embedded Value Movements including comparison with prior period movements
• Supervise and provide guidance with data preparation and analysing key risk exposures
• Conduct assessment of company policies in relation to Capital Allocation/Management, Bonus Policy, Dividend Policy, ALM and Hurdle Rate determination and prepare Management and Board reports
• Review data preparation and respond to requests from stakeholders in readiness for IFRS 17 implementation
• Provide input in product development for the LOB
• Product pricing and setup in the actuarial pricing and valuation system
• Review and monitor experience on all products to inform decision making including profit testing of existing products
• Provide comprehensive actuarial reports to the business each quarter and highlight key issues on an ongoing basis including solvency and capital monitoring
• Address all areas raised by the IRA in their risk inspection and continue to highlight emerging risks
• Perform any other duties as may be assigned from time to time

Key Performance Measures

As described in your Personal Score Card
 
Knowledge, experience and qualifications required

• University Degree in actuarial science, statistics, engineering, mathematics, physics, economics or related field with strong emphasis on mathematical proficiency
• 2-4 years’ experience in a similar position
• Progress in Institute of Actuaries examinations (9 papers)

Technical/ Functional competencies

• Statistical techniques
• Proficient knowledge on the insurance industry in Kenya
• Knowledge of reinsurance arrangements and structures
• Knowledge of statistical packages or programming (e.g. SAS, Visual Basic)
• Database management systems