Job Purpose Statement

The Senior Actuary will have the responsibility of addressing all the requirements for the Risk Based Solvency and Capital Adequacy Management framework. He/she will be responsible for the assessment of premiums and reserve adequacy and support the management of all insurance related risks especially catastrophic events and the optimization of the Reinsurance structure.

Ideal Job Specifications
Academic qualifications:

• Bachelor’s degree in actuarial science, Mathematics, Statistics or equivalent
• Completed professional examinations from the Institute and Faculty of Actuaries, or equivalent recognised qualification

Professional training:

• Professional qualifications like Chartered Actuary, FSA, SOA, ACII, CFA, CPA, ACCA or ACA.
• IFRS 17 proficiency

 Desired work experience:

• At least 5 years of short-term insurance industry knowledge and experience as an Actuary
• Experience with and/or knowledge of reserving, pricing, risk modelling, market and industry financial reporting and regulations.
• Proficiency in actuarial concepts/methodologies
• Proficiency in developing and refining actuarial models for risk assessment, pricing, reserving, and forecasting.
• Strong skills in data analysis, predictive modeling, and statistical methods such as Monte Carlo simulations and regression analysis.
• Expertise in evaluating financial risks, solvency, capital adequacy, and asset-liability management.
• Proficient in industry-standard software such as Prophet, R, Python, SAS, VBA, SQL, or other actuarial modeling tools.
• Affinity for digital tools – Power BI and/or Advanced Excel, AI or similar skills are beneficial.
• Deep understanding of regulatory frameworks like Solvency II, Insurance Act requirements, and other industry standards.
• Strong grasp of financial reporting standards – IFRS 17, experience in calculating reserves, and ensuring accurate liability valuations.
• Ability to translate actuarial findings into strategic recommendations that align with business objectives.