Actuarial Manager Job at Equity Bank Kenya… See details on how to apply for the opportunities available at Equity Bank Kenya.
Description;
Equity Bank Limited (The “Bank”) is incorporated, registered under the Kenyan Companies Act Cap 486 and domiciled in Kenya. The address of the Bank’s registered office is 9th Floor, Equity Centre, P.O. Box 75104 – 00200 Nairobi. The Bank is licensed under the Kenya Banking Act (Chapter 488), and continues to offer retail banking, microfinance and related services. The Bank has subsidiaries in Kenya, Uganda, South Sudan, Rwanda and Tanzania.
Responsibilities:
- Perform actuarial valuations and solvency calculations.
- Support in preparation of financials and management information.
- Undertake experience investigations to aid in business decision making.
- Provide technical supervision to actuarial analysts.
Key Accountabilities
Balance Sheet Management
- Solvency Management: perform timely calculation of current and projected solvency positions and providing recommendations on ways to best manage solvency.
- Reinsurance Management: carry out reinsurance analysis for the business to explore ways to optimize reinsurance arrangements. Responsible for reinsurance arrangement with Reinsurers and getting regulatory approval.
- Asset liability matching: perform assessment on extent to which the business assets and liabilities are matched and provide recommendations.
- Sensitivity, stress, and scenario testing: Perform these on actuarial liabilities, plan/budget to identify inputs with significant impact to the business.
Actuarial Valuation and Financial Reporting
- Computation of technical provisions.
- Accurate and timely calculation of Value of New Business/New Business Profit and Embedded Value.
- Assess the sufficiency and quality of the data used in the calculation of technical provisions.
- Compare best estimates against experience/Analysis of profitability/ Analysis of Surplus/Analysis of Embedded Value.
Experience Investigations
- Perform experience investigation to inform business decision making, assumption setting for reserving, pricing, profitability analysis etc.
- Ensure complete and accurate data are produced and used in experience analysis.
- Apply recommended changes from the analyses.
Financial Reporting & Management Information
- Prepare required regulatory returns (including solvency) and industry bodies on a quarterly basis or on ad-hoc basis.
Qualifications
Qualifications and Experience
- At least 3 years’ experience in life actuarial valuations and financial reporting
- Good progression with actuarial exams (minimum of 7).
- University Degree in Actuarial Science or equivalent (Preference given to Second Class Upper Division & Above)
Competencies
- Strong problem-solving, analytical, and oral and written skills to clearly communicate recommendations.
- Confident with good interpersonal and communication skills
- Strong Organizational Skills
