Role Overview
The Actuarial Manager is responsible for leading actuarial valuation, pricing, reserving, and risk management activities to ensure financial soundness, regulatory compliance, and sustainable business growth. The role provides strategic actuarial insights to support product development, capital management, financial reporting (IFRS 17/IFRS 4), and enterprise risk management, while ensuring robust governance and technical excellence within the actuarial function.
Main Responsibilities
Financial Reporting & Valuation
- Lead statutory and IFRS (including IFRS 17 where applicable) actuarial valuations.
- Oversee calculation of technical provisions, reserves, and liabilities.
- Ensure timely and accurate financial reporting to regulators and auditors.
- Provide actuarial inputs into financial statements and Board reporting.
- Liaise with Finance on solvency, capital adequacy, and profit emergency analysis.
Pricing & Product Development
- Oversee pricing models and ensure products are financially viable and competitive.
- Provide actuarial support in product design, benefit structures, and profitability projections.
- Conduct sensitivity and scenario analysis for new and existing products.
- Review and approve pricing bases and assumptions.
Capital & Risk Management
- Support capital modeling, stress testing, and solvency monitoring.
- Contribute to ORSA (Own Risk and Solvency Assessment) processes.
- Identify actuarial risks and recommend mitigation strategies.
- Support reinsurance structuring and treaty evaluations.
Data Analytics & Insights
- Ensure integrity and governance of actuarial data.
- Utilize predictive analytics to enhance risk selection and pricing accuracy.
- Provide experience investigations and trend analysis (mortality, morbidity, lapse, claims).
- Drive automation and optimization of actuarial models and reporting processes.
Governance & Regulatory Compliance
- Ensure compliance with local insurance regulations and actuarial standards.
- Support regulatory submissions and actuarial certifications.
- Maintain documentation of models, methodologies, and assumptions.
- Coordinate internal and external audits related to actuarial matters.
Stakeholder Engagement
- Provide actuarial advisory to Executive Management and Board Committees.
- Collaborate with Underwriting, Finance, Risk, Claims, and Business Development teams.
- Act as a technical reference point for actuarial and non-actuarial stakeholders.
- Support strategic initiatives, mergers, acquisitions, or business transformation projects.
Leadership & Talent Development
- Supervise and mentor actuarial analysts.
- Foster a high-performance, ethical, and analytical culture.
- Support actuarial trainees in professional development.
- Drive continuous improvement and innovation within the function.
Behavioral Competencies
- High integrity and professional ethics.
- Strong attention to detail and accuracy.
- Accountability and ownership mindset.
- Leadership and team development capability.
- Resilience and ability to work under regulatory deadlines.
- Effective communication and stakeholder influence.
- Continuous improvement and innovation orientation.
Academic Background & Relevant Qualifications
- Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field.
- Progress toward Fellowship (FSA, FIA, or equivalent) with minimum regulatory requirement or fully qualified Actuary preferred.
- Membership in a recognized actuarial professional body.
- Certification in IFRS 17 implementation (advantageous).
- Minimum 5-8 years of actuarial experience within insurance or financial services.
- Experience in financial reporting and reserving.
- Exposure to pricing and product development.
- Prior supervisory or team leadership experience preferred.
- Experience interacting with regulators and auditors.
How to Apply
All interested candidates should send their curriculum vitae, copies of their academic and professional certificates to ke-vacancies@mua.co.ke quoting the Job Reference Number and Position by 20th February 2026. All candidates must indicate their current gross pay and their expected monthly gross pay in the application letter.
