Key Responsibilities:

Actuarial Valuation and Regulatory Reporting

• Complete the internal implementation of the IFRS 17 standard.
• Lead the timely and accurate monthly valuation of actuarial liabilities.
• Ensure sufficient quality of valuation data used to calculate actuarial liabilities through data checks and clean-up.
• Ensure the methodologies implemented in the valuation are robust and best practice.
• Perform solvency calculations.
• Review the appointed actuary’s results and statutory reports.
• Provide timely and accurate regulatory reporting inputs.
• Present the various actuarial reports to the board.

Experience Analysis

• Perform investigations on mortality, lapse, expense and investment returns.
• Perform analysis of surplus to investigate deviations of the actual experience from the expected experience.
• Incorporate the findings from the experience analysis in updating assumptions on expected experience, and provide advice to relevant stakeholders.

Strategy and Budgeting

• Provide projections for actuarial liabilities, premiums, claims and investment income that are consistent with the experience and business strategy.
• Monitor the actual experience vs the budget to identify the causes of any deviations.
• Advise management on the impact of inputs on the overall strategy.

Product Development and Monitoring

• Engage management on prospective products to develop.
• Conduct pricing of new products ensuring profitability.
• Regularly monitor profitability of existing products based on current experience, and reprice if necessary.
• Assist business development in pricing of group life products to ensure profitability.
• Develop and update comprehensive quotation models for the sales team.
• Engage with the regulator on product approvals.

Balance Sheet Management

• Develop the Asset Liability Matching Policy and regularly monitor the extent to which the company’s assets match its liabilities.
• Conduct solvency projections to advise management on asset portfolio structuring.
• Perform reinsurance analysis to optimize reinsurance arrangements.
• Perform sensitivity, scenario and stress testing on the actuarial liabilities to identify the key assumptions for pricing and key inputs that the business should monitor.

Academic and Professional Qualifications required

• University Degree in Actuarial Science or any other related field.
• A Master’s degree in Actuarial Science or related field will be an added advantage.
• Advanced progression with actuarial exams (minimum of 11).
• At least 10 years’ experience in an Actuarial function with experience in valuations, IFRS 17 and product development.