Actuarial Associate (3 Positions) at Britam

Britam is a leading diversified financial services group, listed on the Nairobi Securities Exchange. The group has interests across the Eastern and Southern Africa region, with operations in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi. The group offers a wide range of financial products and services in Insurance, Asset management, Banking and Property. Our Mission is to provide outstanding financial services to our customers. Our Vision is to be the most trusted financial service partner. We aim to provide our clients, with an unmatched offering, ensuring first class solutions that help secure the future.

Job Purpose

The role holder is responsible for executing the day-to-day tasks/projects of the Actuarial unit by performing data checks and analysis, experience investigations, business projections and valuation of technical liabilities for the assigned Line of Business (GI or Life).

Key responsibilities

• Coordinate with the assigned Segment in the preparation of valuation data.


• Timely calculation of accurate insurance technical liabilities provided for monthly financial reporting as well as carrying out Reserve Adequacy Tests. This includes preparation of reports on valuation results.


• Prepare data to inform embedded value and analysis of surplus calculations.


• Timely calculation of solvency on monthly basis.


• Carry out experience investigations as directed e.g. on expenses, Return on Assets, lapse rates, Mortality etc.


• Prepare input data for the annual business planning exercise, strategy reviews and for capital management/solvency purposes as well as Stress and Scenario testing on the projections.


• Coordinate with the assigned Segment in the preparation of data for the management and board reports.


• Perform any other duties as may be assigned from time to time.

Key Performance Measures

• As described in your Personal Score Card

Requirements

Knowledge, experience and qualifications required

• University Degree in actuarial science, statistics, engineering, mathematics, physics, economics or related field with strong emphasis on mathematical proficiency


• Progress in Institute of Actuaries examinations (3 papers)


• 0-2 years’ experience in a similar position

Technical/ Functional competencies

• Statistical techniques


• Proficient knowledge on the insurance industry in Kenya


• Knowledge of reinsurance arrangements and structures


• Knowledge of statistical packages or programming (e.g. SAS, Visual Basic)


• Database management systems

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