Britam Actuarial Manager General Insurance Jobs in Kenya

Britam Actuarial Manager General Insurance Jobs in Kenya

Job Purpose

  • Reporting to the Chief Actuary, the role holder will provide actuarial support to business and participate in overall risk management for the company. He/she is expected to lead and manage a team that is all rounded and highly motivated to achieve both their personal and career objectives.

    Key responsibilities

  • Provide input into underwriting strategy and rules for General Insurance, Kenya insurance business

  • Analyse statistical data in order to determine rates for different risks in acceptance of proposals for new policies and products in conjunction with the underwriting department

  • Review the product performance with regards to their claims and expense experience and advise on appropriate pricing.

  • Provide analysis to support the application of appropriate reinsurance arrangements and provide inputs to the reinsurance management strategy.

  • Working with the risk and compliance department in the measurement quantification of operational risk in General Insurance, Kenya business

  • Provide leadership to the team in determining and calculating all GI insurance contract reserves.

  • In charge of developing the Asset Liability Management framework for the general business and working closely with the Capital management team and the investment team to actualize the ALM framework.

  • Coordinate the preparation of business plans/budgets and capital management initiatives for the life business.

  • Provides input to the enterprise risk management by conducting stress and scenario testing, reviewing the risk appetite statements, etc.

  • Ensuring compliance to IRA regulation and other relevant regulations.

  • Supervising, mentoring and coaching staff under supervision

  • Work closely with the finance function, appointed actuary and external auditor in the preparation of financial statements and the disclosure requirements.

  • Be highly conversant with IFRS 17 requirements and have the relevant skills to implement the new standard.

  • Make presentations to management and board on the performance of the business, including financial impacts of actions taken by management and the board.

  • Perform any other duties as may be assigned from time to time.

    Key Performance Measures

  • As described in your Personal Scorecard.

    Knowledge, experience and qualifications required

  • University Degree in actuarial science, statistics, engineering, mathematics, physics, economics or related field with strong emphasis on mathematical proficiency

  • 7-9
    years’ of relevant actuarial experience in an actuarial function with a company with a similar maturity level as Britam.

  • Fellow of the Institute of Actuaries or any other recognised actuarial body.

    Change Leaders in Britam need to:

  • Strategically lead a function to service customers from a sustainable and growing customer base whilst increasing profit;

  • Continuously configure and adapt the functional area to most effectively suit the future view of the business;

  • Introduce new concepts so that they are adopted appropriately at the right time (manage the rate of change);

  • Be in touch with the changing industry, customer needs and international best practice;

  • Improve the efficiency of the function by appropriately challenging managers about operational and tactical issues;

  • Ensure the function has the most appropriate people capability through effective inspirational leadership, people development, and optimised succession planning;

  • Ensure clarity of expectations for individuals in the function and other stakeholders across the group;

  • Facilitate functional integration;

  • Ensure the development and establishment of appropriate behaviour and values (culture) within the function that aligns with the strategic direction and values of the business;

  • Co-ordinate between functions and divisions to ensure optimisation of the value chain and resources;

  • Ensure alignment of strategy, objectives and deliverables within the function;

  • Develop innovative partnerships and distribution channels to increase Britam’s market penetration;

  • Ensure a seamless experience for clients;

  • Appropriately allocate funds and capital to maximise shareholder value;

  • Adequately manage operational risk;

  • Increase operational efficiency;

  • Provide access to accurate and consistent information and services across all channels;

  • Improve quality and speed of decision making across the business.

    How to Apply

  • For more information and job application details, see; Britam Actuarial Manager General Insurance Jobs in Kenya

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