11 Jan 2022

Assistant Manager – Actuarial at Kenyan Alliance Insurance

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Job Description

The Kenyan Alliance Insurance is a leading Insurance and Financial Services Company offering a wide range of financial products and services in insurance. The product range includes life and general insurance, pensions, investment planning, wealth management, retirement planning and medical insurance.

As part of our growth strategy, the Company seeks to recruit a dynamic, passionate, innovative and result orientated professional to the below position;

Assistant Manager – Actuarial

Main Purpose of the Job- (Job Summary)

The job holder is responsible for coordinating all activities of the Actuarial unit, including but not restricted to; preparation of actuarial reserves, product development cycle and procedure, investment portfolio mandates and making monthly management reports.

Main Responsibilities

•    Ensure that all valuation data is received in time for the valuation exercise
•    Review valuation assumptions and recommend changes where necessary
•    Review valuation parameters and change where necessary in consultation with management or Group actuaries
•    Review valuation results and make the monthly management report
•    Review liability levels and advice the Accounting unit on the appropriate liability value to book in the accounts
•    Review and recommend on appropriate product pricing level for old and new products
•    Coordinate development of new product specs and models
•    Facilitate review of new products by the Associate Actuary and provide feedback to management
•    Continuously review product development cycle and procedure
•    In liaison with the other departments, roll out the implementation and training timetable
•    Coordinate review of new products and sign off by the Commissioner of Insurance
•    Continuously review the level of value provided by our products to the policyholders
•    Review and recommend appropriate profitability levels for all products on a monthly/quarterly basis
•    Evaluate the unit price generated by the Fund Managers on a monthly basis
•    Present actuarial reports to the board and management from time to time

Knowledge & Experience

The candidate must demonstrate and possess the following skills and qualifications:

Academic Qualification

  • Bachelor of Science in Insurance or Business Administration

Professional Qualifications

  • At least 9 Actuarial professional papers


  • Over 5 years’ experience in managing Actuarial Operations
  • In depth understanding of the operations of a Composite Insurance company
  • Good marketing, communication and presentation skill

Good knowledge of the insurance business

Method of Application

If you are interested in the position and have the required qualifications, please email a detailed CV indicating the current and expected salary and cover letter clearly indicating ‘ASSISTANT MANAGER - ACTUARIAL’ on the subject line to [email protected]

Closing Date : 25th January 2022.

Only shortlisted candidates will be contacted.


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