Actuarial Associate

Job Purpose:

The role holder is responsible for executing the day-to-day tasks/projects of the Actuarial unit by performing data checks and analysis, experience investigations, business projections and valuation of technical liabilities for the assigned LOB.

Key responsibilities:

• Coordinate with the assigned Segment in the preparation of valuation data.
• Timely calculation of accurate insurance technical liabilities provided for monthly financial reporting as well as carrying out Reserve Adequacy Tests. This includes preparation of reports on valuation results.
• Timely calculation of solvency on monthly basis.
• Carry out experience investigations as directed e.g. on expenses, product portfolio experience, intermediary loss ratio reports, etc.
• Prepare input data for the annual business planning exercise, strategy reviews and for capital management/solvency purposes as well as Stress and Scenario testing on the projections.
• Coordinate with the assigned Segment in the preparation of data for the management and board reports.
• Delegated authority as per the approved delegated authority matrix.

Key Performance Measures:

As described in your Personal Score Card.

Knowledge, experience and qualifications required

• University Degree or completion letter in actuarial science, statistics, engineering, mathematics, physics, economics or related field with strong emphasis on mathematical proficiency
• Entry level.
• Progress in Institute of Actuaries examinations (At least 1 paper).

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.