Job Description
Reporting to the Chief Actuary, the role holder will provide actuarial support to business and participate in overall risk management for the company. He/she is expected to lead and manage a team that is all rounded and highly motivated to achieve both their personal and career objectives.
Key responsibilities
• Provide input into underwriting strategy and rules for General Insurance, Kenya insurance business
• Analyze statistical data in order to determine rates for different risks in acceptance of proposals for new policies and products in conjunction with the underwriting department
• Review the product performance with regards to their claims and expense experience and advise on appropriate pricing.
• Provide analysis to support the application of appropriate reinsurance arrangements and provide inputs to the reinsurance management strategy.
• Working with the risk and compliance department in the measurement quantification of operational risk in General Insurance, Kenya business
• Provide leadership to the team in determining and calculating all GI insurance contract reserves.
• In charge of developing the Asset Liability Management framework for the general business and working closely with the Capital management team and the investment team to actualize the ALM framework.
• Coordinate the preparation of business plans/budgets and capital management initiatives for the life business.
• Provides input to the enterprise risk management by conducting stress and scenario testing, reviewing the risk appetite statements, etc.
• Ensuring compliance to IRA regulation and other relevant regulations.
• Supervising, mentoring and coaching staff under supervision
• Work closely with the finance function, appointed actuary and external auditor in the preparation of financial statements and the disclosure requirements.
• Be highly conversant with IFRS 17 requirements and have the relevant skills to implement the new standard.
• Make presentations to management and board on the performance of the business, including financial impacts of actions taken by management and the board.
• Perform any other duties as may be assigned from time to time.
Key Performance Measures
• As described in your Personal Scorecard
Knowledge, experience and qualifications required
• University Degree in actuarial science, statistics, engineering, mathematics, physics, economics or related field with strong emphasis on mathematical proficiency
• 7-9 years’ of relevant actuarial experience in an actuarial function with a company with a similar maturity level as Britam.
• Fellow of the Institute of Actuaries or any other recognized actuarial body.
Change Leaders in Britam need to:
• Strategically lead a function to service customers from a sustainable and growing customer base whilst increasing profit;
• Continuously configure and adapt the functional area to most effectively suit the future view of the business;
• Introduce new concepts so that they are adopted appropriately at the right time (manage the rate of change);
• Be in touch with the changing industry, customer needs and international best practice;
• Improve the efficiency of the function by appropriately challenging managers about operational and tactical issues;
• Ensure the function has the most appropriate people capability through effective inspirational leadership, people development, and optimized succession planning;
• Ensure clarity of expectations for individuals in the function and other stakeholders across the group;
• Facilitate functional integration;
• Ensure the development and establishment of appropriate behaviour and values (culture) within the function that aligns with the strategic direction and values of the business;
• Co-ordinate between functions and divisions to ensure optimization of the value chain and resources;
• Ensure alignment of strategy, objectives and deliverables within the function;
• Develop innovative partnerships and distribution channels to increase Britam’s market penetration;
• Ensure a seamless experience for clients;
• Appropriately allocate funds and capital to maximize shareholder value;
• Adequately manage operational risk;
• Increase operational efficiency;
• Provide access to accurate and consistent information and services across all channels;
• Improve quality and speed of decision making across the business.
To apply for this job please visit https://britam.taleo.net/careersection/external+-+britam/jobdetail.ftl?job=2100006Z&tz=GMT-07%3A00&tzname=America%2FLos_Angeles