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Liberty Life Assurance Kenya is a life insurance provider that has been providing relevant products to Kenyans for over 50 years. Our purpose at Liberty is to make a difference in people’s lives by making financial freedom possible.
We change realities and make freedom possible by providing innovative and relevant solutions that help our customers prote...
Job Summary
- The Specialist, Financial Reporting (Actuarial) is responsible for the timely, accurate and compliant execution of actuarial valuations, financial reporting, regulatory reporting and management information for the life insurance business. The role performs actuarial analysis, modelling, experience investigations and reporting activities; supports product profitability, budgeting and forecasting; and operates robust data, model and reporting controls. The role prepares and quality-assures outputs for review by the Manager, Capital Management and Reporting and escalates material issues, judgements and exceptions through the approved governance process.
Key Responsibilities
Financial Reporting and Valuation
- Support delivery of statutory, regulatory and management actuarial valuations within agreed timelines.
- Coordinate assigned actuarial reporting processes and ensure results are accurate, complete, reconciled and appropriately documented.
- Prepare and review actuarial reports and inputs for monthly, quarterly and annual financial reporting cycles.
- Analyse actuarial results against prior periods, budgets, forecasts and business expectations and prepare clear movement commentary.
- Work with Finance to reconcile actuarial and financial reporting outputs and resolve differences on a timely basis.
AIFRS 17 Reporting
- Produce, analyse and report IFRS 17 results and disclosures in accordance with approved methodologies and controls.
- Calculate and review Fulfilment Cash Flows, Risk Adjustment and Contractual Service Margin where applicable.
- Analyse movements in IFRS 17 balances and explain material drivers for management and financial reporting.
- Prepare actuarial information required for annual financial statements and external reporting.
- Support responses to IFRS 17 audit and stakeholder queries, maintaining complete working papers and evidence.
Actuarial Liability Management
- Perform calculations and analysis supporting valuation of insurance liabilities for group and individual life business.
- Review actuarial assumptions and investigate variances in valuation results.
- Validate actuarial data, assumptions and valuation outputs and escalate material issues to the Manager, Capital Management and Reporting for review and approval routing.
- Monitor actuarial reserves and emerging experience trends and recommend further investigation or action.
Experience Investigations and Profitability Analysis
- Conduct mortality, withdrawals, expense and claims experience investigations.
- Monitor trends affecting product profitability and actuarial assumptions.
- Analyse the performance and profitability of existing and newly launched products.
- Provide actuarial insight and recommendations to support business decision-making.
- Investigate business performance variances and emerging actuarial risks.
Product Development and Pricing Support
- Participate in product development through actuarial modelling, profitability analysis, pricing support and sensitivity testing.
- Assess the financial implications and sustainability of new product proposals.
- Support product reviews to assess continued competitiveness, customer value and profitability.
- Assist with user acceptance testing and actuarial validation of products configured in administration and valuation systems.
- Monitor product performance and recommend enhancements through the Manager.
Expense Analysis, Budgeting and Forecasting
- Monitor expense allocations and per-policy expense levels across products.
- Perform expense investigations and variance analysis to identify emerging trends and risks.
- Support review of expense assumptions used in pricing and valuation models.
- Provide actuarial projections and analysis for budgeting, forecasting and business planning.
- Contribute actuarial input to long-term financial projections and scenario analysis.
Regulatory Reporting and Compliance
- Prepare actuarial returns and regulatory submissions required by the Insurance Regulatory Authority and other relevant authorities for review and approval.
- Operate in accordance with the Insurance Act, applicable actuarial and financial reporting standards, regulatory requirements and internal policies.
- Support implementation of regulatory and reporting changes affecting assigned activities.
- Provide information to the external or appointed actuary and internal stakeholders through the Manager.
- Support responses to regulatory reviews and information requests.
Data Governance and Quality Assurance
- Perform data validation, reconciliation and quality-assurance checks for actuarial reporting.
- Investigate and resolve data anomalies affecting calculations and reporting, escalating material or recurring issues.
- Maintain evidence of data checks, controls, exceptions and resolution.
- Recommend improvements to actuarial data quality, ownership and governance.
Model Governance and Controls
- Maintain, test and enhance actuarial models used for valuation, pricing and financial reporting within approved access and change controls.
- Comply with model governance standards, documentation requirements and independent review arrangements.
- Participate in model testing, validation and controlled implementation of changes.
- Identify and escalate model risks, limitations and control weaknesses.
Investment-Linked Fund Administration Support
- Review unit pricing calculations and supporting controls in accordance with approved governance processes.
- Verify the accuracy and completeness of unit pricing information before submission through the approval process.
- Investigate pricing exceptions or discrepancies and document resolution.
- Adhere to established mandates, controls and escalation requirements for investment-linked fund administration.
Audit, Risk and Governance
- Support internal and external audits relating to actuarial and financial reporting activities.
- Implement assigned audit recommendations and corrective actions within agreed timelines.
- Identify, assess, document and escalate actuarial, reporting and operational risks.
- Maintain documentation supporting actuarial review, audit and regulatory inspection.
- Promote adherence to actuarial governance standards, company policies and internal controls.
Collaboration and Continuous Improvement
- Work closely with Finance, Risk, Investments, Operations, IT and Data teams to deliver integrated and reliable reporting.
- Provide technical guidance to analysts or colleagues where delegated, without assuming formal people-management accountability.
- Identify opportunities to automate and simplify reporting while preserving appropriate review and controls.
- Maintain current technical knowledge and share relevant learning with the actuarial team.
Qualifications
- Bachelor’s degree in actuarial science, Statistics, Mathematics, Engineering or a related quantitative discipline.
- Progress toward qualification with a recognised actuarial professional body such as IFoA, ASSA, SOA or equivalent.
- Minimum seven actuarial examinations pass or an equivalent level of progress toward professional qualification.
- Demonstrated experience in actuarial valuations, financial reporting and experience investigations.
- Exposure to regulatory reporting, actuarial governance, modelling and reporting systems.
Experience
- Minimum 5 years of relevant actuarial experience in life insurance, financial services or actuarial consulting.
Competencies
Technical Competencies
- Financial Reporting and IFRS 17
- Actuarial Valuation
- Experience Investigations
- Data Analysis and Interpretation
- Product Profitability and Pricing Analysis
- Regulatory Reporting
- Actuarial Modelling and Scenario Testing
- Risk, Governance and Control Awareness
Behaviourial Competencies
- Analytical Thinking
- Attention to Detail
- Commercial Acumen
- Problem Solving
- Accountability
- Stakeholder Management
- Planning and Organizing
- Effective Communication
- Team Collaboration
- Continuous Improvement
go to method of application »
If you meet the above requirements, you are encouraged to forward your application and updated CV to vacancies@heritage.co.ke by 24th September 2026. Clearly state the job title on the subject heading.
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