Actuarial Associate – 3 Positions at Britam

Job Description (adsbygoogle = window.adsbygoogle || []).push({}); Britam is a leading diversified financial services group, listed on the Nairobi Securities Exchange. The group has interests across the Eastern and Southern Africa region, with operations in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi. The group offers a wide range of financial products and services in Insurance, Asset management, Banking and Property. Our Mission is to provide outstanding financial services to our customers. Our Vision is to be the most trusted financial service partner. We aim to provide our clients, with an unmatched offering, ensuring first class solutions that help secure the future.Job Purpose:The role holder is responsible for executing the day-to-day tasks/projects of the Actuarial unit by performing data checks and analysis, experience investigations, business projections and valuation of technical liabilities for the assigned LOB.Key responsibilities: Coordinate with the assigned Segment in the preparation of valuation data.Timely calculation of accurate insurance technical liabilities provided for monthly financial reporting as well as carrying out Reserve Adequacy Tests. This includes preparation of reports on valuation results.Prepare data to inform embedded value and analysis of surplus calculations.Timely calculation of solvency on monthly basis.Carry out experience investigations as directed e.g. on expenses, Return on Assets, lapse rates, Mortality etc.Prepare input data for the annual business planning exercise, strategy reviews and for capital management/solvency purposes as well as Stress andScenario testing on the projections.Coordinate with the assigned Segment in the preparation of data for the management and board reports.Delegated Authority: As per the approved Delegated Authority Matrix. RequirementsKnowledge, experience and qualifications required University Degree in actuarial science, statistics, engineering, mathematics, physics, economics or related field with strong emphasis on mathematical proficiency.0-2 years’ experience in a similar position.Progress in Institute of Actuaries examinations (3 papers). Technical/ Functional competencies: Statistical techniques.Proficient knowledge on the insurance industry in Kenya.Knowledge of reinsurance arrangements and structures.Knowledge of statistical packages or programming (e.g. SAS, Visual Basic).Database management systems. Leadership category responsibility framework (Core Competencies):Emerging Leaders in Britam need to: Present and Communicate Information – Speaks fluently; expresses opinions, information and key points of an argument clearly; presents effectively; responds quickly to others ‘reactions and feedback during conversations; projects credibility.Work with People – Shows respect for the views and contributions of team members; shows empathy; listens, supports and cares for others; consults others and pro-actively shares information and expertise with them; builds team spirit and reconciles conflict; adapts to the team and fits in well.Adhere to Principles and Values – Upholds and encourages ethical behavior and departmental values; demonstrates integrity; encourages individual responsibility towards the community and the environment; models the organizational values during every day interactions.Analyze – Analyses numerical data and all other sources of information, breaking them into component parts, patterns and relationships; probes for further information or greater understanding of a problem; makes rational judgments from the available information and analysis; demonstrates an understanding of how one issue may be part of a much larger system / process / problem.Plan and Organize – Adheres to and monitors clearly defined objectives; plans activities and projects well in advance and takes account of possible changing circumstances; identifies and organizes resources needed to accomplish tasks; manages time effectively; monitors performance against deadlines and milestones.Deliver Results and Meet Customer Expectations – Focuses on customer needs and satisfaction; sets and models high standards for quality and quantity; monitors and maintains quality and productivity; works in a systematic methodical and orderly way; consistently achieves projects goals.Decide and Initiate Action – Takes responsibility for own, as well as subordinates’ actions and projects; takes initiative and works under own direction; initiates and generates activity; introduces improvements into work processes; handles problems with minimal guidance.Lead and Supervise – Provides subordinates with a clear direction; motivates and empowers others; provides subordinates with the relevant coaching; creates a positive climate that fosters learning and development; identifies high potential talent; sets and articulates the departmental vision and values through own personal behavior; sets appropriate standards of behavior.Formulate Strategies and Concepts – Works strategically to realize personal goals; understands and effectively communicates the departmental strategy; translates the departmental strategy and vision into operational responsibilities; takes into consideration departmental strategy during all tasks; takes account of a wide range of issues across, and related to current role.Apply Expertise and Technology – Applies specialist and detailed technical expertise; uses technology to achieve work objectives; develops job knowledge and expertise (theoretical and practical) through continual professional development; demonstrates an understanding of different organizational departments and functions.Follow Instructions and Procedures – Challenges authority only when appropriate; follows procedures and policies; keeps to schedules; arrives punctually for work and meetings; demonstrates a commitment to the organization; complies with legal obligations and safety requirements of the role.Adapt and Respond to change – Adapts to changing circumstances; tolerates ambiguity; accepts new ideas and change initiatives; adapts interpersonal style to suit different people or situations; shows an interest in new experiences.