Old Mutual Kenya, a leading provider of long-term savings, asset management, and investment solutions, is seeking a Senior Actuarial Valuations Specialist. This role is responsible for ensuring the provision of actuarial services to Old Mutual Assurance Kenya by collaborating with business entities and Group functions. Key focus areas include reserving, pricing, product reviews, experience reviews, and solvency and capital management.
Key Tasks and Responsibilities
Technical Actuarial Support: Conduct and/or review internal actuarial liability valuations, analyze profitability/surplus, and calculate/analyze embedded value using Prophet and other provided tools.
Regulatory Reporting: Support the appointed actuary’s reports and collaborate to produce the Financial Condition Report.
Product Profitability Review: Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions.
Solvency and Capital Management: Carry out solvency computations for the entity under various solvency regimes and perform required solvency stress tests.
Financial Modeling: Assist with financial modeling of business scenarios and projects to inform strategic decision-making.
Strategy and Business Planning: Assist with business planning financial projections and solvency projections, performing stress and scenario analysis on plan numbers.
Reinsurance Support: Conduct reinsurance analysis to optimize reinsurance arrangements.
Reporting and Documentation: Prepare reports and presentations for management and the Board of Directors.
Risk Management: Assist business units and the Risk Officer in identifying, quantifying, and monitoring insurance, market, and credit risks.
Investment Strategy: Support the development and formulation of appropriate investment strategies and monitor adherence to mandates.
Learning and Development: Mentor and support the actuarial analyst team with learning concepts, methodology, and the reporting value chain.
Business Partnering: Support effective business decisions to optimize capital and mitigate risks.
Skills and Competencies
Strong analytical and technical actuarial skills.
Business awareness and proficiency in Microsoft Office.
Excellent communication and presentation skills.
Strong interpersonal skills and the ability to work under minimal supervision.
Ability to prioritize and manage a wide range of deliverables simultaneously.
Expert knowledge of reserving software, preferably Prophet.
Strong programming skills.
Knowledge and Experience
Minimum 8 years of actuarial experience.
Extensive experience with IFRS17 concepts and reporting.
Deep knowledge of insurance regulations.
Qualifications
Bachelor of Actuarial Science or a related degree in Finance or Mathematics.
Professional Actuarial Knowledge: Nearly qualified or qualified actuary (10 papers and above).
How to Apply
Interested and qualified candidates should apply via the Old Mutual career portal. Use the following link to access the application page: Apply here. This will redirect you to the official Old Mutual Workday recruitment site.
