About the Role
The Assistant Manager - Actuarial Services will be responsible for performing actuarial analyses, developing models, and providing insights that support sound business decision-making while ensuring compliance with applicable actuarial standards and regulatory requirements.
Key Responsibilities
- Lead the preparation of monthly, quarterly, and annual actuarial valuations, including reserve adequacy assessments and technical reserve monitoring.
- Prepare actuarial reports for Management, Board Committees, regulators, and other stakeholders.
- Support the preparation of IFRS 17 financial results, disclosures, and Financial Condition Reports (FCR).
- Prepare actuarial assumptions and IFRS 17 projections to support the Company’s budgeting, forecasting, business planning, and strategic decision-making.
- Perform capital modelling, stress testing, solvency assessments, and capital optimization analyses.
- Prepare and submit statutory actuarial reports and regulatory returns within prescribed timelines.
- Coordinate actuarial audits, including data preparation, assumption setting, validation of valuation results, and implementation of audit recommendations.
- Liaise with the Insurance Regulatory Authority (IRA), external auditor, appointed actuary, and other stakeholders.
- Conduct business experience investigations, profitability analyses, pricing reviews, and portfolio performance monitoring.
- Develop, maintain, and enhance actuarial models, predictive pricing models, dashboards, and reporting tools.
- Provide actuarial advice and technical support to Underwriting, Claims, Finance, Reinsurance, Risk, and Executive Management.
- Present actuarial analyses and recommendations to management and Board Committees to support business decisions.
- Supervise, mentor, and develop junior actuarial staff.
- Ensure compliance with IFRS 17, actuarial standards of practice, Insurance Act requirements, IRA regulations, and internal governance policies.
Academic and Professional Qualifications
- Bachelor’s degree in Actuarial Science, Statistics, Mathematics, or a related quantitative discipline.
- Progress towards qualification in either Institute and Faculty of Actuaries (IFoA) or Society of Actuaries (SOA).
- A member of the Actuarial Society of Kenya.
- Sound knowledge of IFRS 17 and its application in insurance valuation, financial reporting, actuarial modelling, and regulatory compliance.
Knowledge, Skills & Experience
- Minimum of 4–6 years’ relevant actuarial experience in the insurance or financial services industry.
- Relevant experience in life, general, or health insurance.
- Demonstrated experience in actuarial modelling, pricing, reserving, financial reporting, and/or risk management.
- Technical actuarial expertise.
- Analytical and problem-solving skills.
- Leadership and people management.
- Business acumen and stakeholder management.
- Communication and professionalism.
How to Apply
Applications should be addressed to the Group Human Resources Manager, Madison Group Limited, Email: hr_recruitment@madison.co.ke so as to be received by Friday 21st August, 2026.
