Actuarial Analyst at CIC Insurance Group

Location: Nairobi
Job Type: Full-Time
Application Deadline: 17th December 2024

Purpose:

The Actuarial Analyst is responsible for performing financial analysis on actuarial liabilities, claims experience, pricing, solvency and capital requirements, as well as the suitability of reinsurance arrangements.

Primary Responsibilities:

• Run, adjust, and make assumptions on valuation models of claims and premium liabilities for specific lines of business.

• Monitor the adequacy of reserves.

• Prepare draft reports such as valuation, claims experience, solvency, and capital reports.

• Monitor and investigate claims experience and provide insights on products for specific lines of business.

• Review pricing, check the adequacy of premiums, and provide recommendations for specific lines of business.

• Monitor solvency position and capital requirements for the subsidiary.

• Monitor investment performance and prepare quarterly reports.

• Perform asset-liability matching for the business.

• Prepare monthly data reconciliation reports for specific lines of business.

• Support in IFRS 17 financial reporting.

• Review and recommend the suitability of reinsurance arrangements for specific lines of business.

• Review and analyze data from AKI/IRA for use in quarterly industry analysis reports for specific lines of business.

• Provide support in special projects within the company.

• Provide actuarial support to the Micro Insurance Company.

Key Skills, Knowledge, Experience, and Behavioral Competencies:

Academic and Professional Requirements:

• Education: Bachelor’s Degree in Actuarial Science, Statistics, Mathematics, or a related field. (Essential)

• Professional Qualification: At least 6 actuarial professional papers passed. (Essential)

Experience Required:

• Relevant Experience: 3 years (Essential)

Knowledge & Skills:

• Knowledge of actuarial software, its capabilities, and output.

• Strong communication and presentation skills.

• Problem-solving skills.

• Excellent interpersonal and leadership abilities.

• Good analytical skills.

• Computer literacy in MS Office and other office applications.

Behavioral Competencies:

• Core Competencies (Proficiency Level: Intermediate):

  • Customer Focus

  • Business Acumen

  • Driving Innovation

  • Driving Business Performance

  • Negotiation and Influence

  • Effective Communication

• Leadership Competencies (Proficiency Level: Intermediate):

  • Enabling Strategic Alignment

  • Accountability

  • Quality Operational & Decision Making

  • Building Partnerships

  • Coaching and Mentoring

  • Emotional Intelligence

  • Conflict Management

CIC Insurance Group Values:

CIC Insurance Group is committed to upholding these values to drive performance:

• Integrity: Be fair and transparent.

• Dynamism: Be passionate and innovative.

• Performance: Be efficient and results-driven.

• Co-operation: Live the co-operative spirit.

Job Profile Sign-Off:

• Perform quality work within deadlines, ensuring tasks are done right the first time, with or without direct supervision.

• Interact professionally with other employees, customers, and suppliers.

• Work effectively as a team contributor on all assignments.

• Work independently, understanding the need to communicate and coordinate with other employees and organizations.

• Demonstrate unconditional positive regard for customers.

How to Apply:

If you meet the qualifications and are ready to take on the responsibilities outlined, please apply via the following link: CIC Insurance Careers. Clearly indicate the position you are applying for.

• Deadline: 17th December 2024

• Only short-listed candidates will be contacted. If you do not hear from us by 31st December 2024, please consider your application unsuccessful.

Note: This job opportunity is open to both internal and external candidates.

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