Job Description
Job Ref. No. JLIL165
Position: Actuarial Associate
Employment Terms: Permanent and Pensionable
Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in
Mombasa. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest
Composite insurer in East Africa, handling Life, Pensions, General and Medical Insurance. Today, Jubilee is the
number one insurer in East Africa with over 450,000 clients. Jubilee Insurance has a network of offices in Kenya,
Uganda, Tanzania, Burundi and Mauritius. It is the only ISO certified insurance group listed on the three East Africa
stock exchanges – The Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities
Exchange. Its regional offices are highly rated on leadership, quality and risk management and have been awarded
an AA- in Kenya and Uganda, and an A+ in Tanzania. For more information, visit www.JubileeInsurance.com
We currently have an exciting career opportunity for Actuarial Associate within Jubilee Life Insurance Limited. The
position holder will report to the Regional Head-Actuarial, Life and will be based at Head Office in Nairobi.
Main Purpose of the Job (Job Summary)
The role provides actuarial modelling and reporting in product development & profit-testing, IFRS17, solvency, risk
capital, management and financial reporting, regulatory compliance.
Main Responsibilities
1. Actuarial reporting for financial & regulatory compliance: Including actuarial reserving, IFRS17 modelling, Financial
Condition Report, Solvency, Risk Based Capital reports
2. Product Development: -
a) Pricing, profit-testing, system set-up
b) Development of policy documents for new products
c) Developing illustrations for new products
d) Ongoing profitability monitoring of the product
e) Scenario & sensitivity testing
3. Actuarial experience analyses including mortality investigations; persistency; expenses; investment returns; analysis
of reserves & surplus
4. Value of new business, embedded value & Asset Liability Management valuations
5. Projections and Budgeting: Projected actuarial reporting for financial statements & strategic planning
6. Actuarial risk technical modelling and use of internal models
7. Gives leadership and technical direction to staff under supervision in performing actuarial functional work
8. Perform other duties as may be assigned from time to time
Classified as Confidential Recipient Only
Academic Qualifications
1. Bachelor’s Degree in Actuarial Science, Statistics, Mathematics or any other related field
2. Professional actuarial exams (minimum of 7 exams completed)
Key Competencies
1. Accountability for results
2. Diligence
3. Team management
4. Actuarial judgement skills
Experience
Minimum of 3-4 years’ relevant experience, one (1) of which is at a supervisory level.