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ASSISTANT ACTUARY – KRC/HR/2021/02
The Actuary will ensure that the Reinsure has an effective actuarial function capable of evaluating and providing advice to the Reinsurer regarding capital adequacy, technical provisions, premiums levels, pricing activities as well as compliance with related statutory and regulatory requirements.
The actuarial function shall be required to evaluate and provide advice on the Reinsurer’s actuarial and financial risks, the Reinsurer’s investment portfolios and the valuation of assets, the insurer’s solvency position, including adequacy of capital for business and regulatory purposes as well as liability and loss provisions.
- Responsible for providing ongoing technical and analytical support to Reinsurance business
- Responsible for actuarial and risk analysis used to develop pricing for new and existing products in line with management’s and company’s objectives.
- Initiate, organize and manage Actuarial/ underwriting projects.
- Gather and prepare analysis based on information from internal and external sources.
- Utilize knowledge of mathematics, probability, statistics, principles of finance and business to problems in insurance.
- Research on functional issues using a variety of resources. Develop/ prepare reports and assist in the development of new/revised policies/ guidelines.
- Interpret Government regulations and internal policies, participate in preparation of documentation related to government filings/licensing.
- Prepare recommendations based on data summaries, trend analysis, financial analysis and business analysis.
- Analyze data, construct probability tables to forecast risk and liability to assist in decision making.
- Ascertain premium rates and accurate cash revenues to assist in accurate decision making.
- Participate in cross- functional teams to develop ne/enhanced systems/processes/programs/policies to support business needs.
- End to end reserving of several risk classes, Political, Property, Life, WIBA etc.
- Support quarterly reserve reviews.
- Perform quarterly reserve reviews.
- External stakeholder management (Regulators, Rating agencies, Auditors)
- Internal stakeholder management (claims, finance, underwriting etc.)
- Transfer of reserving models to IFRS 17.
- Preparation of Board papers and follow up of Board directives.
- Other roles in pricing, capital calculation and special projects
- Applicants should possess a Bachelor’s degree in Actuarial Science, Statistics, Mathematics or its equivalent. They should be holders of a minimum of 7 actuarial professional papers of IFoA.
- Applicants should have six (6) years’ experience, In addition, they should have excellent interpersonal and communication skills, good organization and management skills, advanced skills in mathematics and statistics. They should be team players and have strong leadership skill.
- Experience in busy actuarial office for at least 2 years
- Membership of recognized professional actuarial body
- Passed non-life actuarial reserving specialist paper.
- Experience in reinsurance, international reserving and in Prophet
- A post graduate diploma in actuarial science will be an added advantage.
Kenya Re is an equal opportunity employer and does not discriminate on the grounds of gender, colour, race, religion, natural origin,
age or physical disability. An appropriate remuneration package will be offered to successful candidates.
Applicants should indicate on the CV their current/last salary and whether they are persons living with disability. They should post or
email as attachments their CV and cover letter quoting the relevant Job Ref No. outlining how they meet requirements for the position to: –
The Human Resource Manager
Kenya Reinsurance Corporation Limited
P. O Box 30271, 00100 GPO
NAIROBI E-mail: email@example.com
Closing Date: 1st February 2021