Head, Actuary Unit at an Assurance Company

JOB SUMMARY: 

This role is responsible for the overall actuarial management of the General Insurance business. The incumbent will lead and oversee all in-house actuarial functions, including pricing, reserving, capital modeling, and risk analysis. Additionally, the role ensures that any external actuarial services provided to the company are accurate, compliant, and aligned with business needs. The Head of Actuarial will play a key role in strategic decision-making, regulatory reporting, and supporting the company's financial objectives through robust actuarial insights.

ROLE QUALIFICATION:

1. First degree in actuarial science, Mathematics, Statistics, Finance, or a related field.
2. A Master’s Degree will be an advantage
3. A professional qualification in insurance will be an added advantage

KEY RESPONSIBILITIES:

1. Actuarial Valuation & Enterprise Risk Management
2. Product Pricing & Development
3. Asset Liability Management
4. Business Reporting and Communication with stakeholders
5. Reinsurance Management
6. Financial Forecasting & Reserving
7. Regulatory & Compliance Management

REQUIRED SKILLS & COMPETENCIES:

1. Knowledge and understanding of the Nigerian Insurance Sector
2. In-depth knowledge of IFRS 17, NAICOM regulations, solvency requirements, and risk management frameworks.
3. Strong technical expertise in actuarial modelling, data analysis, and reinsurance strategies.
4. Proficiency in Excel, VBA, Python, SQL, and Power BI.
5. Strong analytical skills. 
6. Investigative skills
7. Ability to give balanced judgements
8. Strong stakeholder management and negotiation
9. Change management ability
10. Strong decision making
11. Time management priority setting
12. Highly curious and ability to deal with ambiguity and complexity;
13. Ability to challenge status quo 
14. Excellent communication and report writing skills with a keen attention to detail