Actuarial Manager at Equity Bank Kenya
JobWebKenya
Accounting, Auditing & Finance
Job Summary
- Minimum Qualification: Bachelors
- Experience Length: 3 years
Job Description/Requirements
Job Description
Equity Bank Limited (The “Bank”) is incorporated, registered under the Kenyan Companies Act Cap and domiciled in Kenya. The address of the Bank’s registered office is 9th Floor, Equity Centre, P.O. Box – Nairobi. The Bank is licensed under the Kenya Banking Act (Chapter ), and continues to offer retail banking, microfinance and related services. The Bank has subsidiaries in Kenya, Uganda, South Sudan, Rwanda and Tanzania. Its shares are listed on the Nairobi Securities Exchange and Uganda Securities Exchange. Equity Bank was founded as Equity Building Society (EBS) in October and was originally a provider of mortgage financing for the majority of customers who fell into the low income population.
Summary
Equity Bank is one of the region’s leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern and inclusive financial services that maximize their opportunities. With a strong footprint in Kenya, Uganda, Tanzania, Rwanda, South Sudan and DRC Congo, Equity Bank is now home to over 12 million customers – the largest customer base in Africa. Currently the Bank is seeking additional talent to serve in the role outlined below. Reporting to the Head of Actuarial , the Actuarial Manager will support in actuarial valuations, financial reporting, preparation of management information, experience investigations and balance sheet management.Job Responsibilities
Perform actuarial valuations and solvency calculations. Support in preparation of financials and management information. Undertake experience investigations to aid in business decision making. Provide technical supervision to actuarial analysts.Key Accountabilities
Balance Sheet Management
Solvency Management: perform timely calculation of current and projected solvency positions and providing recommendations on ways to best manage solvency. Reinsurance Management: carry out reinsurance analysis for the business to explore ways to optimize reinsurance arrangements. Responsible for reinsurance arrangement with Reinsurers and getting regulatory approval. Asset liability matching: perform assessment on extent to which the business assets and liabilities are matched and provide recommendations. Sensitivity, stress, and scenario testing: Perform these on actuarial liabilities, plan/budget to identify inputs with significant impact to the business.Actuarial Valuation and Financial Reporting
Computation of technical provisions. Accurate and timely calculation of Value of New Business/New Business Profit and Embedded Value. Assess the sufficiency and quality of the data used in the calculation of technical provisions. Compare best estimates against experience/Analysis of profitability/ Analysis of Surplus/Analysis of Embedded Value.Experience Investigations
Perform experience investigation to inform business decision making, assumption setting for reserving, pricing, profitability analysis etc. Ensure complete and accurate data are produced and used in experience analysis. Apply recommended changes from the analyses.Financial Reporting & Management Information
Prepare required regulatory returns (including solvency) and industry bodies on a quarterly basis or on ad-hoc basis.Qualifications
Qualifications and Experience
At least 3 years’ experience in life actuarial valuations and financial reporting Good progression with actuarial exams (minimum of 7). University Degree in Actuarial Science or equivalent (Preference given to Second Class Upper Division & Above)Competencies
Strong problem-solving, analytical, and oral and written skills to clearly communicate recommendations. Confident with good interpersonal and communication skills Strong Organizational SkillsImportant Safety Tips
- Do not make any payment without confirming with the BrighterMonday Customer Support Team.
- If you think this advert is not genuine, please report it via the Report Job link below.