• Application Deadline: Mon, 30 Jan 2023 00:00:00 GMT
• Position: Actuarial Officer


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience 3 years


• Location Not specified


• Job Field Insurance 
  

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.