Jobs at Old Mutual Kenya

KEY TASKS AND RESPONSIBILITIES

Product Governance & Approval

• Own, maintain and interpret the Product Approval & Monitoring policy for East Africa, ensuring alignment with Group risk and governance frameworks. Serve as the actuarial member of the Product Approval “Triad” (MD, EA Product Actuary, Statutory Actuary) for Kenya and Uganda. Decide on the appropriate level of governance for each initiative (full approval vs reduced sign-off for low-risk/limited exposure products) in line with policy. Ensure that all product approval packs contain robust actuarial analysis on pricing, guarantees, options, risk appetite and customer value.

Pricing Governance & Capital Discipline

• Define and maintain pricing standards (hurdle rates, risk margins, profit metrics) for all life and retail investment products in Kenya and Uganda. Review and sign off all pricing reports for new products and significant changes, ensuring adequate profitability; Capital efficiency and alignment to risk appetite; Appropriate use of reinsurance and risk mitigation tools. Provide actuarial input to Finance and Executive management on the P&L, capital and IFRS17 implications of product initiatives.

 In-Force Product Performance & Monitoring

• Design and oversee the product performance monitoring framework, covering volumes, margins, claims, lapses, expenses and investment performance. Ensure regular review of in-force products, including early warning indicators and triggers for remedial action (repricing, redesign, closure). Monitor compliance with any conditions attached to product approvals and ensure follow-through.

Risk, Regulatory & Market Conduct Responsibilities

• Provide actuarial leadership on Market Conduct, Legal, Regulatory, Strategic and Operational risk considerations in product design and pricing. Sign off, or contribute to, the actuarial sections of required risk declarations (e.g. 1st Line of Assurance, risk appetite confirmations). Support engagement with regulators on product approvals and related actuarial issues, ensuring consistency between Group and local approvals.

Leadership, People & Capability Development

• Lead and develop the East Africa product actuarial team, fostering a culture that balances commercial outcomes with actuarial rigor and good conduct. Drive the phased development of Uganda’s product actuarial capability, with a view to ultimately localizing product actuarial responsibilities. Provide thought leadership into East Africa’s product strategy and roadmap, ensuring actuarial insight is embedded into strategic decision-making.

 Decision Rights

• Final actuarial sign-off on product pricing and risk metrics before Product Approval Triad decision. Authority to determine whether reduced sign-off is appropriate or full governance is required. Authority to recommend repricing, redesign, suspension or closure of products when profitability or risk appetite thresholds are breached.

Key Interfaces

• MD Kenya, MD Uganda, BU CFOs, Statutory Actuaries, BU Heads of Product, Distribution, Finance, Risk & Compliance, Operations and IT. Group Africa Product Actuary, Group Risk and Group Product Governance functions. External regulators and reinsurers (as needed).

​​​​​​​SKILLS AND COMPETENCIES

• Strong commercial orientation with disciplined risk mindset.
• Ability to constructively challenge and influence senior leaders.
• High level of integrity, judgment and independence.
• Leadership and coaching capability across geographies and cultures.
• Clear and concise communication skills, including ability to explain complex actuarial concepts to non-actuaries.

​​​​​​​QUALIFICATION, KNOWLEDGE & EXPERIENCE

• Fellow of a recognized actuarial body (e.g. FASSA, FIA or equivalent).
• 4+ years’ post-qualification actuarial experience in life insurance, including significant product pricing and governance exposure.
• Strong working knowledge of IFRS17, capital frameworks, risk governance and Market Conduct requirements.
• Demonstrated experience in multi-market or multinational environments and in influencing senior stakeholders.

go to method of application »

KEY TASKS AND RESPONSIBILITIES

Governance Workflow & Pipeline Management

• Design, maintain and manage the product governance pipeline, from concept notes through pricing, Product Approval Triad, implementation and in-force review Coordinate input and sign-offs from all key stakeholders (Business Owner, EA Product Actuary, BU Finance Owner, Risk, Compliance, Statutory Actuary, Operations and IT Track and report on governance SLAs (e.g. time-to-market, committee throughput, outstanding conditions

Documentation & Template Ownership

• Maintain the product documentation library, including design specifications, customer requirement specifications, pricing specifications and supporting templates. Ensure that documentation standards are consistently applied across Kenya and Uganda. Prepare or coordinate accurate minutes, approval conditions, waivers and related records for all product approvals.

Regulatory & Policy Compliance Support

• Support the preparation of regulatory product submissions, ensuring alignment between internal approvals and regulatory requirements. Monitor adherence to the Product Approval & Monitoring policy and escalate potential breaches or recurring non-compliance to the EA Product Actuary and BU Risk. Facilitate audit and assurance activities by collating evidence of policy adherence and process compliance.

Reporting & Management Information

• Produce regular governance MI for MDs, EA Product Actuary and BU Excos, including: Number and type of initiatives in pipeline; Status by stage and market;  Key risks, dependencies and bottlenecks.
• Provide governance insights to support continuous improvement of the product operating model.

Stakeholder Coordination & Communication

• Plan and coordinate Product Committee / Triad meetings (agendas, packs, pre-reads, actions). Serve as central coordination point between Product, Actuarial, Finance, Risk & Compliance, Operations, IT, Distribution and Group Product Governance.

Decision Rights:

• Authority to enforce process and documentation requirements (e.g. not scheduling committees without complete packs)
• Authority to escalate non-compliance, repeated delays or unresolved conditions to the EA Product Actuary and relevant BU leaders.

Key Interfaces:

• East Africa Product Actuary, MD Kenya, MD Uganda (indirectly via MI), BU Heads of Product, Distribution, Finance, Risk & Compliance, Statutory Actuaries, Operations and IT, Group Product Governance.

SKILLS AND COMPETENCIES

• Strong organizational and project management skills.
• High discipline in documentation, follow-through and control.
• Ability to work across multiple functions and manage competing priorities.
• Clear, concise communicator able to simplify governance requirements for business stakeholders

QUALIFICATIONS, KNOWLEDGE & EXPERIENCE

• Degree in Business, Finance, Risk Management, Actuarial Science or related field.
• 4–7 years’ experience in project management, product governance or risk/compliance in financial services.
• Prior exposure to life insurance products and product approval processes highly desirable.
• Project management certification (PMP, Prince2, Agile, etc.) an advantage.

go to method of application »

KEY TASKS AND RESPONSIBILITIES

• End to end proactive management of Intermediaries and customer relationships for assigned portfolio of schemes.
• Ensure superior customer experience is always provided to intermediaries/clients while working closely with other departments.
• Track and report on delivery of OM Customer Service Charter to meet the NPS and NES targets
• Contribute to the profitable growth of the portfolio based on set annual targets through profitable retention of existing business
• Responsible for obtaining and providing correct market intelligence on renewal/Tender business to ensure it is correctly/competitively priced.
• Proactively manage and reduce all costs including cost controls for adverse performing schemes.
• Support on excess, undertakings, and premium collection.
• Adhere to all the processes, procedures and controls set parameters.
• Train and increase uptake of all automation initiatives by clients/intermediaries and having gained comprehensive understanding of the same.
• Demonstrate teamwork/spirit and continued personal development.
• Any other duties that may be assigned by the management.

SKILLS AND COMPETENCIES

Technical Skills:

• Health Benefit Plans Management
• Presentation & Public speaking skills
• Key Accounts Management
• Customer Servicing
• Ability to work independently in a fast-paced environment
• Highly motivated, flexible and adaptable nature.
• Good business acumen and good understanding of the market
• Self-starter who shows initiative and is able to work under minimal supervision
• Personal and professional ethics

Generic Competencies:

• Planning and Organising
• Analytical Thinking & Risk Management
• Process Discipline and Quality Orientation
• Decision Making
• Business Acumen
• Strategic Orientation
• Result Orientation
• Developing Self/Others
• Culture sensitivity on Diversity, Equity and Inclusion

QUALIFICATIONS, KNOWLEDGE & EXPERIENCE

Knowledge & Experience

• 2-3 years’ experience in the insurance industry preferably in client servicing
• Experience in handling SME/Corporate clients/portfolio is a must.
• Sales experience and excellent report writing communication and interpersonal skills.

Educational Requirement

• University Graduate with a business-related degree in Commerce/Finance or Business Administration -Insurance Option/Marketing/Economics
• Professional insurance qualifications - CII/COP is an added advantage
• Proficient in the use of Microsoft office suite & packages (word, excel, PowerPoint)

go to method of application »

KEY RESPONSIBILITIES

 Claims Assessment and Adjustment

• Timely assess the extent of loss into claims to determine extent of liability
• Prepare detailed loss adjustment reports, including the calculation of indemnities and decision on your claim
• Recommend process improvements to enhance efficiency and effectiveness in claims management.
• Negotiate settlements to achieve fair outcomes for both the insured and the company.
• Advise the risk recommendations to be taken on policies if needed
• Review policy terms and conditions to ensure claims fall within coverage.
• Coordinate with clients, witnesses, service providers, and other stakeholders to collect evidence and support documentation.
• Review and provide quality assurance for external loss adjustment reports
• Review and recommend reserves especially for large losses
• Follow up large losses with external loss adjusters
• Visit scene of incidents for large losses
• Provide expert advice on technical and financial aspects of claims.
• Identify potential fraudulent claims and escalate for further review.
• Implement measures to minimize risk exposure and reduce claims leakage.
• Maintain professional communication with clients, brokers, and third-party service providers.
• Maintain accurate and up-to-date records of claims assessments and settlements.
• Contribute to audits and reviews by providing relevant documentation and insights.
• Participate in training and development programs to enhance technical skills and knowledge.

Quality Assurance

• Review the quality the Loss adjustment report from the external loss adjusters
• Conduct performance review from the external adjusters.
• Prepare monthly report on the status of all claims under adjustment.

SKILLS AND COMPETENCIES

• Computer literate
• Team oriented.
• Strong analytical and investigative skills
• Excellent negotiation and communication skills
• High attention to detail and ability to multitask
• Confidentiality on sensitive information
• Detail-oriented with a focus on accuracy.
• Excellent communication and interpersonal abilities.
• Stakeholders’ management Commitment.
• Ability to work independently and collaboratively in a team-oriented environment.
• Integrity, professionalism, and strong ethical standards.

KNOWLEDGE & EXPERIENCE

• Insurance technical Knowledge
• Professional certification in Loss Adjusting, Insurance or  Claims Management (IIK,CILA)
• Bachelor’s degree in a business-related field
• At least 3 years of experience in claims handling or loss adjustment.

QUALIFICATIONS

• Business related Bachelor’s degree
• Insurance professional qualification (IIK or CII)
• Professional certification in Insurance Loss Adjusting (CILA)
• Proficiency in data analysis tools and software (e.g., Excel, Power BI).