Old Mutual Kenya Head of Actuarial General Insurance EA

Old Mutual Kenya Head of Actuarial General Insurance EA

Job Summary

  • Reporting to the Group Actuary, the role holder is responsible for the preparation and presentation of the required actuarial and other reports to management, relevant UAP Holdings and/or BUs Boards and regulators especially Annual Valuation and Financial Condition Reports and Quarterly Solvency Statements to the regulator and various Boards and Management for UAP entities.

    Key Responsibilities

  • Technical Actuarial Support; Conduct and/or review internal actuarial liability valuations for relevant insurance subsidiaries, analysis of profitability/surplus

  • Aggregation of Results; Collate, review and interpret actuarial results for all relevant insurance Bus

  • Undertake and review; Pricing, profitability, experience analysis, and other relevant actuarial investigations for relevant insurance BUs to inform business decisions.

  • Financial Modelling; assist with financial modelling of business scenarios/projects to inform business decision making.

  • Product/Services Development, Pricing and Management; provide technical input in product development exercises (BU Specific/Group wide), product lifecycle management and monitoring, existing products assessments and reviews, new products pricing and review of premium rates for existing products for insurance subsidiaries in the Group

  • Risk Management Support; assist BUs/Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate and formulating appropriate risk mitigation measures for insurance subsidiaries and having an enterprise wide/Group view
    Economic Capital Modelling; assist with developing an Economic Capital Model for use in quantifying risk and risk-based capital requirements

  • Investment Strategy Support; assist in developing/formulating appropriate investment strategies and/or review of, and monitoring of investment strategies for insurance BUs
    Reinsurance and Underwriting Support; develop/assist with review of appropriateness, adequacy and cost efficiency of reinsurance and underwriting arrangements in place and/or formulating the same for insurance BUs in the group

  • Strategy and Business Planning Support; assist with business planning financial projections, strategy development and review, market and competitor analysis, internal business/financial analysis and make proposals on the subsidiaries’ and Group’s medium to long term strategic plans

  • Experience Monitoring; Conduct claims experience analysis, expense investigations, persistency/business retention studies, and other relevant actuarial investigations for insurance BUs to inform business decisions and to assist in actuarial work

  • Special Projects; participate in special projects as would be requested by Group Management/BU Management/relevant Boards.
    Systems Support; provide support to UAP’s Businesses in relation to administration and actuarial systems where possible

    Qualifications and Work Experience

  • B.Sc. Actuarial Science, M.Sc. Data Science
    Partly Qualified Actuary from IFoA

    Skills and Competencies

  • Good communication and leadership skills with high personal integrity

  • Organized, numerate, analytical and fully computer literate

  • Familiar with the current IRA, RBA, CMA and Central Bank regulations

  • High levels of energy, drive, creativity and innovation

  • Strong work ethic and highly motivated

  • Good business acumen and a good understanding of the market

  • Self-starter who shows initiative

  • Strong actuarial technical skills

  • Strong analytical skills

  • Strong data programming skills

    How to Apply

    For more information and job application details, see; Old Mutual Kenya Head of Actuarial General Insurance EA

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