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Assistant Manager Actuarial

About Us

As one of the largest insurers and financial services companies in East Africa, we have decades of experience in helping discerning individuals protect and create their wealth. But that’s not all. We also keep an eye firmly on the future, using innovation to craft financial products and services that we know you need in today’s constantly changing world. By trusting us with your wealth, you can shape a secure financial landscape for yourself and get the financial freedom you really deserve.

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The job holder will provide actuarial support that includes IFRS17 Modelling, Valuation, Experience Investigations, Asset Liability Matching, Reinsurance and other actuarial special projects.

Description of Core Duties:


  • IFRS17 implementation support including modelling and assumption setting support.
  • Accurate and timely calculation of technical provisions ensuring the application of appropriate valuation methodologies, models and assumptions.
  • Quarterly and annual valuations reporting and analysis
  • Preparation of regulatory returns on a quarterly or an ad hoc basis.
  • Collaborating with external actuaries and auditors on preparation of year end valuation reports, the Financial Condition Report and other Statutory reports.
  • Assist in developing and updating actuarial function related documents e.g., policies.
  • Production of and validation of actuarial reserves for statutory reporting and IFRS17
  • Assist in developing, checking and streamlining actuarial models and processes.
  • Assist in developing and updating actuarial function related documents e.g., policies.

Experience Investigation:

  • Assist with the experience investigations on key assumptions for pricing and valuations.
  • Sensitivity analysis and impact assessment of the various assumptions
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Asset Liability Modeling (ALM):

  • Assist with the quarterly preparation of ALM calculations and presentations to management

Actuarial Modelling:

  • Prophet modelling of liability, Value of New Business (VNB), Pricing, IFRS17, ALM, Capital Modeling and Experience Investigations.

Profitability monitoring:

  • Sensitivity analysis and impact assessment of the various assumptions.
  • Assist in Value of New business calculation and analysis.
  • Provide support in reviewing and monitoring of internal experience and trends to ensure company product pricing meets profit targets
  • Prepare reports on product performance for management decision making

Education and Experience

  • Bachelors’ degree in actuarial science, statistics, engineering, mathematics or any equivalent with a strong emphasis on mathematical proficiency
  • Progress in passing actuarial qualification examinations.
  • At least 4 years’ experience in an actuarial function focused on valuation
  • Experience on IFRS 17 implementation
  • Practical end to end Prophet modelling experience

Other attributes

  • Good interpersonal skills
  • Strong communications skills (written and oral)
  • Sensitivity to Customer needs
  • Ability to work as part of the team and independently

 Technical Competencies

  • Statistical/actuarial techniques
  • Proficient knowledge on the insurance industry in Kenya
  • Knowledge of reinsurance arrangements and structures
  • Knowledge of software packages or programming (e.g., Excel, R, Visual Basic for Applications)
  • Product development knowledge
  • Proficiency in Prophet coding

Core competencies

  • Adhering to principles and values
  • Delivering results and meeting customer expectations
  • Self-driven and provide independent thinking
  • Relationship building and networking within and outside the organization
  • Strong analytical skills
  • Learning and researching
  • Presenting and communicating Information
  • Achieving personal work goals and objectives
  • Connecting work to business objectives.


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