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Actuarial Manager
Job summary
We seek highly motivated and result oriented individual to join our dynamic team.
Experience Level:
Experience Length:
Job descriptions & requirements
Directline Assurance Company Ltd (the Company) is the first Kenyan niche underwriter focusing solely on motor vehicle insurance.
It is the largest motor commercial insurer in Kenya. Our mission is to be preferred choice PSV insurance in Kenya.
Qualified candidates MUST have a Bachelor’s Degree in Actuarial Science (2nd Upper) Diploma in Acturial Techniques and a certificate in finance and investments (CFI).
Member of the Institute and faculty of Actuaries.
Should have 3 – 4 years industry experience.
Key Roles
Key Roles
- Evaluate and advice on the company’s actuarial and financial risks.
- Advice on investment policies and the valuation of company assets.
- Analyse and prepare reports on the company’s solvency position, including calculation of minimum capital required for regulatory purposes and liability, loss provision, technical provision and other liabilities.
- Conduct risk assessment, review and update management policies and controls relevant to actuarial matters.
- Advice management on the company’s distribution of surplus, underwriting policies and reinsurance arrangements.
- Evaluate and advise on the company’s product development and design strategies, including the terms and conditions of insurance contracts.
- Review and report on sufficiency and quality of data used in the calculation of technical provisions, risk modelling and use of internal models.
- Provide analysis to support pricing of new and existing products.
- In-depth claims analysis in order to lower the loss ratio.
- Prepare and submit periodic reports on any circumstance that may have a material effect to the company from an actuarial perspective.
- Limited supervision in respect of day to day running of work
- Gathers and prepares analysis based on information from internal and external sources
- Applies knowledge of mathematics, probability, statistics, and own initiative to resolve problems in insurance and meet deadlines
- Compiles a valuation/review report (in consultation with actuary’s requirements) and arranges for scrutinising by specialist
- Ensures work is done in line with standards and in compliance with company quality control procedures
Skill Set:
- Strong capability to initiate, organize and manage actuarial projects independently.
- Good judgment, negotiation and decision-making skills with strong ethics and a high level of personal and professional integrity.
- An effective communicator with strong oral, written and persuasive skills and capability to deal with people at all levels in the organization.
- Computer literate and proficient in using MS office programs. Knowledge and proficiency in specialised actuarial software (e.g. Prophet) will be an advantage.
Individuals who meet the above requirements should send their applications to the email below stating their current and expected salary along with a detailed CV to reach us on or before 19th October 2015.
Please indicate the job being applied for in the subject heading of your email.
Short listing is running concurrently as applications are received.
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