Old Mutual Kenya is looking for an Intermediate Actuarial Valuation Specialist, Life. This role involves working as part of the Actuarial Team within Old Mutual Life Kenya to support the Senior Valuations Specialists, Head of Life Actuarial, Senior Management, and Board of Directors.
Key Tasks and Responsibilities
Technical Actuarial Support: Conduct and/or review internal actuarial liability valuations for relevant insurance subsidiaries and analyze profitability/surplus.
Financial Condition Reporting: Review external actuaries' reports and collaborate with appointed actuaries to produce the Financial Condition Report.
Experience Investigations: Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions.
Product Profitability Review: Perform profitability analysis, experience analysis, and other relevant actuarial investigations for Old Mutual to inform business decisions.
Solvency and Capital Management: Carry out solvency computations for Business Units on a risk-based capital basis, including solvency stress tests.
Financial Modeling: Assist with financial modeling of business scenarios/projects to inform business decision-making.
Strategy and Business Planning Support: Assist with business planning financial projections and solvency projections for the Business Units. Perform stress and scenario analysis on plan numbers.
Reinsurance Support: Carry out reinsurance analysis for Life Kenya subsidiaries to explore ways to optimize reinsurance arrangements.
Reporting and Documentation: Present results and reports to businesses and subsidiary board committees. Prepare Board Papers and regulatory solvency and valuation reports.
Risk Management Support: Assist Life Business Units and the Risk Department in identifying and quantifying risk (insurance, market, credit risks, etc.) where appropriate. Formulate appropriate risk mitigation measures for BUs and develop an enterprise risk register in CURA (Risk System).
Investment Strategy Support: Develop/formulate appropriate investment strategies and/or review and monitor investment strategies for Old Mutual Life businesses.
Perform other reasonable duties assigned by management.
Skills and Competencies
Analytical Skills
Data Handling knowledge
Business Awareness
Problem Solving Skills
Communication and Presentation skills
Ability to prioritize and work on a wide range of deliverables at once
Ability to work under minimal supervision
Good interpersonal skills
Proficiency in Microsoft Office packages
Knowledge & Experience
IFRS17 Knowledge
Familiarity with current Insurance regulations, Capital markets, and Central Bank regulations
Strong actuarial technical skills
Strong analytical skills
Strong data programming skills
Qualifications
Bachelor of Actuarial Science or other related finance or mathematics degree
Minimum 5 years of actuarial experience
Progress with actuarial examinations: Minimum 7 papers passed from a recognized actuarial body
