American International Group, Inc., also known as AIG, is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. AIG, is an American multinational insurance corporation with more than 88 million customers in 130 countries. AIG companies employ over 64,000 people in 90 countries

Make your mark in Actuarial

The Actuarial Manager will have the responsibility of building an actuarial function for AIG Kenya Insurance Company Limited . Actuaries are on the front line, quantifying risks, pricing insurance and reserving losses. You will collaborate with Finance, Claims, Operations, Marketing and Risk Management among other functions in addressing adherence to Solvency and Minimum Capital Requirements (MCR). You will be responsible for the assessment of premiums and reserve adequacy and support the management of all insurance related risks and the optimization of the Reinsurance structure. Within AIG Kenya, you will be challenged and encouraged to reach your greatest potential to help improve how we predict, manage and mitigate risk.

How you will create an Impact:

• Develop a documented, approved and tested technical provision process and methodology to calculate technical provisions
• Develop processes, procedures, and metrics to enable the business monitor, assess and control the requirements needed to comply with the Minimum Capital Requirement (MCR) with respect to the investments policies and the valuation of assets, underwriting policy, pricing and product development
• Develop processes and procedures to validate budget assumptions and ensure that the budgeting process is in line with the risk appetite and strategy and make projections for expected loss ratios for all lines of business for budget purposes
• Assist in model validation of standard model for MCR calculations, in accordance with the directive and associated guidance as well as provide technical support for the Own Risk and Solvency Assessment
• Develop procedures to produce, document and report opinions on the adequacy of reinsurance arrangements and align/implement a reinsurance strategy in line with solvency requirements
• Interaction with all underwriting departments in AIG (Commercial and Consumer lines) and provide support with Portfolio Analysis and Management

Qualifications

Experience/Skills/Competencies

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics or equivalent
• Completed professional examinations from the Institute and Faculty of Actuaries, or equivalent recognised qualification
• Short term insurance industry knowledge and experience as an Actuary
• Experience with and/or knowledge of reserving, pricing, risk modelling, market and the industry financial reporting and regulations
• Proficiency in actuarial concepts/methodologies
• Problem Solving: Uses rigorous logic and methods to solve difficult problems with effective solutions
• Business Acumen: Knowledgeable in current and possible future policies, practices, trends, technology and information affecting the business/organization
• Drive for Results: Very bottom line oriented
• Reserving: Skilled at estimating
• Pricing: Applies an in-depth knowledge of product features to create or change pricing models and assumptions
• Risk Modelling: Applies outputs from models in various practical uses, including economical capital models, technical pricing levels and to estimate appropriate risk margin under various accounting systems (i.e. IFRS)
• Market and Industry: Has a solid understanding of the property/casualty industry (including product knowledge, regulatory requirements, accounting systems, distribution systems, marketing strategies, reinsurance, etc)
• Regulatory: Maintains knowledge of regulatory requirements and is able to easily research information needed to ensure compliance with the Regulatory Authority