The Senior Actuarial Analyst is responsible for overseeing and performing critical actuarial functions within the life assurance division. This includes financial and regulatory reporting under IFRS 17, monitoring claims experience, capital modelling, and product pricing. The role involves working closely with the finance team to ensure alignment between actuarial projections and business strategy, as well as mentoring junior analysts.
Key Responsibilities
Financial & Regulatory Reporting
Production and review of IFRS 17 valuation results and associated disclosures.
Production and Review of statutory filings in accordance with Insurance Regulatory Authority (IRA), and Management Reports for internal consumption (VNB, VIF, EV, etc).
Collaborate with finance to align actuals vs budget and improve monthly close efficiency.
Experience Monitoring
Perform periodic claims experience analyses to guide pricing, reserving assumptions, and give recommendations for management actions.
Capital Modelling
Run capital adequacy assessments under local solvency regulations. Produce Capital Adequacy reports with recommendations to management.
Pricing & Product Development
Pricing of new individual and group life products, ensuring alignment with profitability, competitiveness, and regulatory standards.
Enhance pricing tools and profitability testing models.
Develop bespoke schemes for corporate clients, affinity groups, and pension providers.
Budgeting & Strategy Actuarial Inputs
Provide Actuarial results towards IFRS 17 Budgets and assist in five-year business planning with actuarial projection models. Work closely with the Finance team to ensure these processes are a success.
Academic Qualifications
Bachelor’s degree in actuarial science or related field. A master’s degree in actuarial management will be an added advantage.
