Actuarial Services Manager
Primary Responsibility
Reporting to the Managing Director, the function will be responsible for all actuarial services of the company including product design and development, product pricing and valuations, continuous risk management of existing insurance products, risk evaluation, review of various products, determination and evaluation of premium structure and policy conditions.
Key Result Areas
- Undertaking statutory valuation of the Life fund and reporting.
- Undertaking monthly liabilities valuation and calculating the value of new business and embedded value.
- Product design, development and pricing.
- Compile and analyze statistical information for decision making.
- Review of product performance on a quarterly basis to their profitability in consultation with the company’s consulting actuary.
- Review of Individual Life and Group Life rates in consultation with the consulting actuary.
- Compiling competitor-underwriting rates for both Group and Individual Life business and making quarterly reports.
- Analyzing the performance of Group and Individual Life business on a quarterly basis.
- Analyzing the market and industry trend of various companies and providing the reports to the management on Quarterly basis.
- To liaise with the Company’s investment department to ensure optimal return on all investment related products, both Individual and Group Business Policies.
- To calculate the daily unit value for investment products and credit the various member fund accounts.
- To provide when require actuarial input for General insurance.
- Any other duties as may be assigned from time to time.
Requirements
- Bachelor of Science, Actuarial Science degree from a recognized university. An MBA will be added advance
- Must have completed or made substantial progress in Actuarial professional exams
- Above three years of work experience at management level in a busy Actuarial Department.
Interested and qualified candidates are invited to send their application letters together with a detailed curriculum vitae indicating their daytime telephone contacts by 5th August 2010 to: hr@madison.co.ke
Only short listed candidates will be contacted.
