Head, Actuarial Services at Coronation Insurance Plc

Role Responsibilities

• Monitor the operation of delegated authority agreements, binding authorities and/or scheme arrangements to ensure that organizational underwriting procedures and policy wordings are being followed.
• Monitor and guide actuarial performances against prescribed objectives and plans.
• Extract relevant data and apply appropriate statistical modelling techniques to produce valid initial analysis to achieve the intended objectives based on appropriate assumptions and rationale.
• Review analysis of loss experience and trends.
• Oversee processes of determining required premium rates, cash reserves and liabilities.
• Apply statistical analysis and predictive modeling to support development of rates, rating plans, pricing and portfolio management.
• Provide actuarial services according to the requirements of assigned business lines.
• Work with relevant units, e.g. underwriting and claims personnel to plan for new lines of business or improve existing business.
• Monitor estimates produced and used by the team in product development and pricing.
• Review assumptions and methodologies used in actuarial models. • Review mortality and surrender risk calculation to ensure accuracy.
• Guide team members on actuarial matters.
• Provide professional advice to support corporate development by analyzing actuarial performances to effectively determine corporate development directions.
• Monitor and review operational plans and procedures for compliance.

Education and Work Experience

• Bachelor’s Degree in Insurance or Actuarial Sciences discipline.
• Master’s Degree is an advantage.
• Minimum of 7 years relevant experience.
• Possession of relevant Professional certifications is an advantage.
• Minimum of four(4) core actuarial exam passes is required.

What We Are Looking For:

• Ability to apply the principles of insurance to complex, unfamiliar situations.
• Ability to demonstrate an understanding of how a range of situations may be affected by the principles of insurance.
• Ability to interpret relevant regulations, standards, and codes of practice relevant to the business.
• Knowledge of IFRS17 and experience in IFRS17 implementation.
• Ability to demonstrate a detailed understanding of complex policy wordings, extensions and/or limitations and their interpretation and application.
• Knowledge and ability to implement compliance procedures and controls.
• Ability to manage large workloads and tight deadlines.
• Ability to apply advanced mathematical / actuarial concepts and techniques.
• Ability to use actuarial statistical software applications.
• Excellent relationship management skills, able to forge strong commercial relationships with internal and external stakeholders.
• Communication and Influencing skills.
• Data analysis and Interpretation.

Our Benefits

• To help you stay energized, engaged, and inspired, we offer a wide range of employee benefits including competitive compensation package, Robust rewards package, Retirement benefits and tools designed to help you in building a sound financial future.
• We also provide an environment that fosters the actualization of goals, and career fulfillment for our people while providing transformational solutions for Africa’s challenges.

Flexible Working Arrangement:

• Coronation’s current flexible working arrangement is designed to enable in-person connections and collaboration that is core to our culture such that it provides employees the flexibility of working from both the office (on-premises) and remotely.