Job Description
PURPOSE
The Actuarial Analyst role provides support to CIC Group Life Assurance Subsidiary and other support functions in the Group such as Finance and Risk. The role is responsible for actuarial valuations, pricing, monitoring the experience and performance of products and the adequacy of reinsurance arrangement.
PRIMARY RESPONSIBILITIES
• Running, adjusting and making assumptions on valuation models of claims and premium liabilities on the life insurance business units;
• Provide actuarial input in Product Development Process i.e. pricing, profit testing, providing rating guidelines and reviewing adequacy of existing premium rates, analysis of surplus, value of inforce, new business and embedded value reporting;
• Experience Analysis including mortality investigations, persistency, expenses and investment returns and providing insights to the life insurance business units;
• Providing analysis to support the application of appropriate reinsurance arrangements on the life insurance business units;
• Prepare draft reports e.g. valuation, claims experience, solvency, capital of the life insurance business units;
• Participate in special projects such as the IFRS 17 implementation support as well as other projects requested by the life insurance business units;
• Review and analyze data from AKI/IRA for use in quarterly industry analysis report;
• Prepare monthly data reconciliation report for specific life insurance business units;
• Any other duties as may be assigned from time to time.
GENERIC DUTIES
• Performance appraisal for Direct Report
• Support in Group Initiatives
PERSON SPECIFICATION
Academic Qualifications
BSc. Actuarial Science or Statistics or Mathematics or related field is required.
Professional Qualifications
• Minimum 5 completed Actuarial papers.
Experience
• Minimum of 3 years of relevant experience.
Skills and Attributes
• Knowledge of prophet actuarial software in terms of capabilities and output;
• Excellent communication and presentation skill;
• Problem solving skills;
• Good analytical skills;
• Computer literate in MS Office and other office applications