Careers at Jubilee Insurance

Job Ref. No. JLIL170

Role Purpose

Assist in conserving existing business while providing superior pension administration service to retirement benefits business clients in full compliance with the laid down procedures and guidelines as set out in the operations manuals and retirement benefits regulations, while fostering business growth and delivering exceptional customer service. The position requires attention to details, data management skills, thorough understanding of pension laws and regulations and excellent customer service.

Main Responsibilities
Operational

• Manage the administration of retirement benefits plans for corporate clients.
• Business Growth: Conserving existing business and offering alternative pension products to existing clients e.g. annuity, cross sell and following up/providing leads for new business.
• Ensure accurate record-keeping of member data, contributions, and benefit calculations.
• Process retirement transactions, including enrollments, withdrawals, and beneficiary updates. The role holder will be processing & ensuring timely settlement of payments, issuance of member’s statements, preparing accounts and other benefits within the set service standards.
• Ensure accurate and up-to-date participant records for retirement benefits clients and handle all necessary documentation in full compliance with data protection laws.
• Provide exceptional and superior customer service to retirement benefits business clients by conducting regular visits and attending to their specific needs promptly.
• Ensure full compliance with existing legislation and guidelines for all retirement benefits schemes
• Assist clients with plan updates, changes, and participant communications.
• Educate clients on plan features, compliance requirements, and industry best practices.
• Identify opportunities for process improvements to enhance operational efficiency.
• Streamline administrative processes to minimize errors and maximize productivity.
• Work with internal teams to implement system enhancements and automation.
• Statistical Analysis & Returns: Preparing summary/ statistical reports of the Retirement Benefits schemes. Also preparing returns in respect of the Retirement Benefits schemes as assigned for submission within the timelines provided. Monitor key performance indicators and implement measures to achieve targets.
• Prepare relevant reports and provide timely and accurate information to clients.
• Collaborate with internal stakeholders to meet reporting obligations.

Corporate Governance

• Adhere to regulatory requirements and internal policies, ensuring compliance in all aspects of insurance servicing.
• Implement and uphold robust data protection and privacy practices, safeguarding customer information and ensuring confidentiality.
• Participate in audits and internal control assessments, addressing any identified gaps or issues promptly.
• Compliance: Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
• Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.

Culture

• Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
• Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
• Individualized Development Planning: Create personalized development plans that align with your career aspirations and the organization's objectives.

Key Competencies

• Visionary Entrepreneurial Spirit
• Market Awareness
• Customer Focus
• Continuous Innovation
• Ownership & Commitment
• Team Spirit
• Excellent organizational and time management skills
• In depth knowledge of retirement benefits legislation and management
• Excellent communication and interpersonal & presentation skills

Qualifications

• B.Sc. (Math/Stat/Actuarial), bachelor’s degree in a business or related field.
• IT proficient (especially excellent command in MS Word, Excel, PowerPoint and Outlook)
• Diploma in Insurance will be an added advantage

Relevant Experience

• At least 2-3 years’ experience in a similar role
• Knowledge of legislation governing Retirement Benefits and Insurance in Kenya will be an added advantage.

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Job Ref. No: JHIL095

Role Purpose

As the Head of Actuarial & Analytics, you will be responsible for developing and executing the strategic vision for the actuarial department in the Company. This includes setting long-term goals, defining key performance indicators (KPIs), and aligning the actuarial team's efforts with the broader business objectives. You'll need to analyze market trends, regulatory changes, and industry developments to shape the actuarial strategies and ensure that they support the organization's growth and profitability targets while leveraging on your technical knowledge to support strategy delivery.

Main Responsibilities
Strategic

• Provide Strategic Leadership: Develop and implement Actuarial Strategies aligned with the overall organizational objectives, risk appetite and regulatory requirements.
• Identify and pursue opportunities for business growth by leveraging actuarial expertise. Collaborate with other teams to develop and refine insurance products, pricing strategies and underwriting guidelines based on actuarial analysis.
• Collaboration with stakeholders: Work closely with senior management and other departments to provide actuarial insights and support business initiatives.
• Industry Knowledge and trends: Stay abreast of emerging actuarial methodologies, industry trends and advancements in actuarial technology and evaluate their potential impact on the organization.

Operational

• Actuarial Analysis and Modelling: Oversee Actuarial Analysis; including pricing, reserving, financial forecasting, and capital modelling to support business decision making and financial planning.
• Financial Reporting and Analysis: Oversee the preparation and analysis of Actuarial reports, financial statements, and management information for internal and external stakeholders.
• Process Improvement: Identify opportunities for process improvement, automation and efficiency enhancements within the Actuarial function promoting best practices and innovation.

 Corporate Governance

• Risk Assessment and Management: Assess and monitor risks related to insurance products, investment portfolios and other financial liabilities and develop risk management strategies to mitigate those risks.
• Regulatory Compliance: Ensure Compliance with relevant regulatory requirements and industry standards, staying updated on changes in regulations and incorporating them into actuarial practices and reporting.

 Leadership & Culture

• Relationship Building: Cultivate strong relationships with business leaders, regulators, industry associations and external partners to foster collaboration and represent the organization’s actuarial function.
• Leadership and Team Management: Lead, monitor and develop the team fostering a high-performance culture and ensuring the development of technical skills and professional growth; Set clear goals provide guidance and support and conduct performance evaluations for the team; Foster a collaborative and inclusive work environment that encourages innovation and continuous learning.

Key Competencies

• Actuarial Modelling
• Statistical Analysis
• Risk Management; including understanding of risk measurement methodologies and frameworks such as Var, Solvency II, IFRS 17
• Financial Reporting
• Pricing and Product Development
• Data Management and Analysis
• Communication and Presentation

 Qualifications

• Master’s degree in a relevant field
• Bachelor’s degree in actuarial science
• Professional Actuarial Qualification (Fellow of the Society of Actuaries)

 Relevant Experience

• Minimum of 10 years of relevant working experience in a similar or equivalent Senior Management role in Actuarial. Experience in implementation of IFRS 17 for short – term business would be an added advantage.