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  • Posted: Jan 6, 2021
    Deadline: Jan 13, 2021
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    Britam is a leading diversified financial services group, listed on the Nairobi Securities Exchange. The group has interests across the Eastern and Southern Africa region, with operations in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi. The group offers a wide range of financial products and services in Insurance, Asset management, Ban...
    Read more about this company


    Team Leader Actuarial Services _ Britam Life

    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

    Method of Application

    Interested and qualified? Go to Britam on to apply

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Average Salary at Britam
KSh 75K from 22 employees

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