Actuarial Officer at Waica Reinsurance

Job Purpose

• The Actuarial Officer under the guidance of the Group Head Actuary, is responsible for supporting both the life and non-life Departments through provision of specialist support of the valuation process and provide insights on the Group financial results and performance, while crusuring appropriate controls

Job Duties and Responsibilities

• Support the implementation of IFRS 17 standard across the Group by developing a thorough understanding of the standard and supporting in the technical modelling and actuarial computations under IFRS 17.
• Assist in the development of rates, rating plans and pricing strategies using actuarial techniques and competitive analyses
• Participate in the development of new products by carrying out cashflow projections on the profitability of proposed products
• Assist in carrying out experience analysis for the various portfolios and develop insights for use by the management
• Assist in the determination of the claims and premium reserves of the groups and testing of the adequacy of historical reserves.
• Data analysis and reconciliation of the date used for actuarial analysis between the underwriting and finance systems
• Assisting in the carrying out stress testing, and in the calculations of the risk-based capital requirements for the Group.
• Assist in the financial modelling of business scenarios/projects to inform business decision making
• Assist the Business Units and Risk Department in identifying and quantifying risk (insurance, market credit risks etc.) where appropriate
• Research on emerging trends competitive conditions and operational changes
• Provide specialist support of the valuation process and provide insights on the group financial results and performance.
• Develop and maintain tools to analyse actuarial data and results to enhance management reporting.

Candidate Profile
Qualifications:

• Degree in Actuarial Science, Statistics or Mathematics

Professional:

• Studying towards an Actuarial qualification with at least 5 actuarial professional exams passed from the IFOA or SOA.

Experience:

• 3 years relevant actuarial experience
• Experience in non-life and life insurance valuations
• Knowledge of IFRS 17
• Prophet DCS, VBA, SQLR or any other programing
• Knowledge would be advantageous

Competencies:

• Strong technical skills and attention to detail
• Ability to communicate effectively to diverse technical and non-technical audiences
• Ability to collaborate effectively
• Ability to work on a range of deliverables
• Ad-hoc project Support the delivery of relevant projects objectives.