Career Opportunities at Equity Bank Kenya

Description

• Equity Bank is one of the region’s leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern and inclusive financial services that maximize their opportunities. With a strong footprint in Kenya, Uganda, Tanzania, Rwanda, South Sudan and DRC Congo, Equity Bank is now home to over 12 million customers - the largest customer base in Africa. Currently the Bank is seeking additional talent to serve in the role outlined below.
• Reporting to the Actuarial Manager, the Actuarial Analysts will support in actuarial experience investigations and data validations.

Job Responsibilities

• Perform validations on data used for actuarial work.
• Perform experience investigations for various tasks as will be assigned.  

Key Accountabilities

Actuarial Analysis

• Use statics and modelling to understand data.
• Validate data used to perform actuarial experience investigations.
• Develop processes for improved data analysis and reporting.
• Preparation of business dashboard and reports for management reporting.

Qualifications

• At least 2 years’ experience in life actuarial valuations and financial reporting
• Commencement of actuarial exams (minimum of 3).
• University Degree in Actuarial Science or equivalent (Preference given to Second Class Upper Division & Above)

Competencies

• Strong problem-solving, analytical, and oral and written skills to clearly communicate recommendations.
• Strong Organizational Skills.

Closing Date: Jun 16, 2023

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Description

• Equity Bank is one of the region’s leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern and inclusive financial services that maximize their opportunities. With a strong footprint in Kenya, Uganda, Tanzania, Rwanda, South Sudan and DRC Congo, Equity Bank is now home to over 12 million customers - the largest customer base in Africa. Currently the Bank is seeking additional talent to serve in the role outlined below.
• Reporting to the Managing Director, the Head of Actuarial will support in actuarial valuations, financial reporting, preparation of management information, experience investigations and balance sheet management.

Job Responsibilities

• Perform actuarial valuations and solvency calculations.
• Support in preparation of financials and management information.
• Undertake experience investigations to aid in business decision making.
• Provide technical actuarial expertise in IFRS 17 implementation.

Key Accountabilities

Balance Sheet Management

• Solvency Management: perform timely calculation of current and projected solvency positions and providing recommendations on ways to best manage solvency.
• Budgeting/Planning: participate in the budgeting and planning process by providing actuarial projections of liabilities, premiums, claims, investment income, customer numbers, Value of New Business/New Business Profit etc.
• Reinsurance Management: carry out reinsurance analysis for the business to explore ways to optimize reinsurance arrangements. Responsible for reinsurance arrangement with Reinsurers and getting regulatory approval.
• Asset liability matching: perform assessment on extent to which the business assets and liabilities are matched and provide recommendations.
• Sensitivity, stress and scenario testing: Perform these on actuarial liabilities, plan/budget to identify inputs with significant impact to the business.

Actuarial Valuation and Financial Reporting

• Lead the execution of accurate and timely calculation of technical provisions.
• Accurate and timely calculation of Value of New Business/New Business Profit and Embedded Value
• Ensure the appropriateness of the methodologies and underlying models used as well as the assumptions used in the calculation of technical provisions.
• Assess the sufficiency and quality of the data used in the calculation of technical provisions.
• Compare best estimates against experience/Analysis of profitability/ Analysis of Surplus/Analysis of Embedded Value.
• Lead the coordination and managing the year-end valuations with all stakeholders.
• Engage with external auditors and appointed actuaries. Reviewing appointed actuary’s valuation reports, Financial Condition Report (FCR) and other statutory reports.
• Provide technical support in the implementation of IFRS 17 and IFRS 9.

Experience Investigations

• Perform experience investigation to inform business decision making, assumption setting for reserving, pricing, profitability analysis etc.
• Ensure complete and accurate data are produced and used in experience analysis.
• Apply recommended changes from the analyses.

Financial Reporting & Management Information

• Produce decision-making information to other business functions, management, board, and other stakeholders.
• Prepare required regulatory returns (including solvency) and industry bodies on a quarterly basis or on ad-hoc basis.
• Preparation and presentation of Board Papers and valuation reports.

General functions

• Building effective relationships with key stakeholders and business partners in cross-functional projects and act as a consultative business partner in influencing business decisions.
• Provides ongoing advice and counsel to other top executives.
• Play a key role in developing and implementing the company’s operating policies and long-term strategies.

Qualifications
 
Qualifications and Experience

• At least 6 years’ experience in life actuarial valuations and financial reporting
• Advanced progression with actuarial exams (minimum of 10).
• University Degree in Actuarial Science or equivalent (Preference given to Second Class Upper Division & Above)

Competencies

• Strong problem-solving, analytical, and oral and written skills to clearly communicate recommendations.
• Confident with good interpersonal and communication skills.
• Conversant with emerging trends in insurance including IFRS 9 & 17.
• Ability to manage multiple projects and competing priorities without missing deadlines.
• Strong Organizational Skills.

Closing Date: Jun 16, 2023

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Description

• Equity Bank is one of the region’s leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern and inclusive financial services that maximize their opportunities. With a strong footprint in Kenya, Uganda, Tanzania, Rwanda, South Sudan and DRC Congo, Equity Bank is now home to over 12 million customers - the largest customer base in Africa. Currently the Bank is seeking additional talent to serve in the role outlined below.
• Reporting to the Head of  Actuarial , the Actuarial Manager will support in actuarial valuations, financial reporting, preparation of management information, experience investigations and balance sheet management.

Job Responsibilities

• Perform actuarial valuations and solvency calculations.
• Support in preparation of financials and management information.
• Undertake experience investigations to aid in business decision making.
• Provide technical supervision to actuarial analysts.

Key Accountabilities

Balance Sheet Management

• Solvency Management: perform timely calculation of current and projected solvency positions and providing recommendations on ways to best manage solvency.
• Reinsurance Management: carry out reinsurance analysis for the business to explore ways to optimize reinsurance arrangements. Responsible for reinsurance arrangement with Reinsurers and getting regulatory approval.
• Asset liability matching: perform assessment on extent to which the business assets and liabilities are matched and provide recommendations.
• Sensitivity, stress, and scenario testing: Perform these on actuarial liabilities, plan/budget to identify inputs with significant impact to the business.

Actuarial Valuation and Financial Reporting

• Computation of technical provisions.
• Accurate and timely calculation of Value of New Business/New Business Profit and Embedded Value.
• Assess the sufficiency and quality of the data used in the calculation of technical provisions.
• Compare best estimates against experience/Analysis of profitability/ Analysis of Surplus/Analysis of Embedded Value.

Experience Investigations

• Perform experience investigation to inform business decision making, assumption setting for reserving, pricing, profitability analysis etc.
• Ensure complete and accurate data are produced and used in experience analysis.
• Apply recommended changes from the analyses.

Financial Reporting & Management Information

• Prepare required regulatory returns (including solvency) and industry bodies on a quarterly basis or on ad-hoc basis.

Qualifications
 
Qualifications and Experience

• At least 3 years’ experience in life actuarial valuations and financial reporting
• Good progression with actuarial exams (minimum of 7).
• University Degree in Actuarial Science or equivalent (Preference given to Second Class Upper Division & Above)

Competencies

• Strong problem-solving, analytical, and oral and written skills to clearly communicate recommendations.
• Confident with good interpersonal and communication skills
• Strong Organizational Skills

Closing Date: Jun 16, 2023

go to method of application »

Description

• Equity Bank is one of the region’s leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern and inclusive financial services that maximize their opportunities. With a strong footprint in Kenya, Uganda, Tanzania, Rwanda, South Sudan and DRC Congo, Equity Bank is now home to over 12 million customers - the largest customer base in Africa. Currently the Bank is seeking additional talent to serve in the role outlined below.
• Reporting to the Head of Risk and Compliance, the Compliance and AML Reporting Officer will support in delivery of AML and Compliance oversight services within Equity Life to help the business achieve its strategies and objectives.

Purpose

• The purpose of the role is to establish and maintain mechanisms and systems of internal control to assist the Board of Directors and Managing in meeting legal, regulatory and supervisory obligations and to promote and sustain a sound compliance culture. This includes ensuring legal and regulatory compliance implications are integrated into material strategic, financial, and operational decisions.

Key Responsibilities

• Establish and maintain an effective regulatory compliance framework that includes a regulatory compliance strategy and appetite.
• Ensure employees undergo training on regulatory compliance obligations.
• Implement and maintain compliance risk indicators and performance measures for monitoring the levels of compliance risk being incurred by the business in relation to the defined appetite limits.
• Implement and maintain compliance risk indicators and performance measures for monitoring the levels of compliance risk being incurred by the business in relation to the defined appetite limits.
• Oversee compliance control adequacy and effectiveness, mitigating management actions and exposure versus appetite limits and identify operating model deficiencies and capability gaps.
• Meet regulatory obligations applicable to the function and be aware of key issues and concerns raised by regulators, while coordinating regulatory interaction where necessary. Oversee the timely submission of all regulatory applications and returns by the business.
• Advise the Board and Management from a compliance perspective on strategic decision making and business planning objectives to ensure they fully understand the implications of decisions being taken and possible mitigating actions to limit compliance exposures.
• Advise the business on the design and implementation of compliance controls and related mitigation processes, projects and change programs. The provision of such advice may not compromise the principles of 1st Line compliance ownership and 2nd Line independence.
• Report to the relevant Board and Managing Executives on:
  • The compliance risks to the business and on material compliance issues, including the outcome of regulatory visits, control breaks, breaches and mitigating management actions.
  • The extent to which the business is ready to comply with new or emerging laws and regulations.
  • The level of progress with the delivery of the annual functional operational plan and the adequacy of resources for the Compliance Function.
• Handle the management and execution of second line monitoring and assessment program for Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF)
• Develop and maintain AML/CTF policies and procedures.
• Suspicious transaction reviews and Suspicious Transaction Reporting to Financial Reporting Center
• Ensure Sanction Screening and adequate onboarding KYC and due diligence for clients, suppliers, and staff.
• Develop and execute AML/CTF training for staff in various business units as required.

Key Accountabilities

Compliance

• Number of regulatory breaches
• On time Resolution of Regulatory Breaches
• Emerging regulations identification and Impact assessment
• Compliance plan completion rate

AML/CTF

• Sanction Screening for all clients, suppliers/partners, and staff
• On-boarding due diligence for all clients, suppliers/partners, and staff
• Continuous Due diligence for high-risk clients
• Suspicious transaction reporting
• Annual AML training for all staff

  
Qualifications & Experience

• University Degree
• Professional qualifications in AML or/and Compliance.
• Sound knowledge of regulations governing insurance companies including the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA).
• At least 10 years’ experience in Compliance and AML roles.

Competencies

• Strong at building relationships with good interpersonal and communication skill
• Confident and assertive, able to garner the respect of others and influence change at the Executive level and throughout the firm.
• Ability to manage multiple projects and competing priorities without missing deadlines.
• Strong Organizational Skills.
• Strong problem-solving, analytical, and oral and written skills to clearly communicate recommendations.