WAICA Re - Vacancy Announcement: Actuarial Office
Job purpose: The Actuarial Officer, under the guidance of the Group Head Actuary, is responsible for supporting both the life and non-life Departments through provision of specialist support of the valuation process and provide insights on the Group financial results and performance, while ensuring appropriate controls.
Job duties and responsibilities
- Support the implementation of IFRS 17 standard across the Group by developing a thorough understanding of the standard and supporting in the technical modelling and actuarial computations under IFRS 17.
- Assist in the development of rates, rating plans and pricing strategies using actuarial techniques and competitive analyses.
- Participate in the development of new products by carrying out cashflow projections on the profitability of proposed products.
- Assist in carrying out experience analysis for the various portfolios and develop insights for use by the management.
- Assist in the determination of the claims and premium reserves of the group and testing of the adequacy of historical reserves.
- Data analysis and reconciliation of the data used for actuarial analysis between the underwriting and finance systems.
- Assisting in the carrying out stress testing and in the calculations of the risk-based capital requirements for the Group.
- Assist in the financial modelling of business scenarios/projects to inform business decision making
- Assist the Business Units and Risk Department in identifying and quantifying risk (insurance, market, credit risks etc.) where appropriate
- Research on emerging trends, competitive conditions and operational changes
- Provide specialist support of the valuation process and provide insights on the group financial results and performance,
- Develop and maintain tools to analyse actuarial data and results to enhance management reporting
- Support the implementation of IFRS 17 standard across the Group by developing a thorough understanding of the standard and supporting in the technical modelling and actuarial computations under IFRS 17.
- Assist in the development of rates, rating plans and pricing strategies using actuarial techniques and competitive analyses.
- Participate in the development of new products by carrying out cashflow projections on the profitability of proposed products.
- Assist in carrying out experience analysis for the various portfolios and develop insights for use by the management.
- Assist in the determination of the claims and premium reserves of the group and testing of the adequacy of historical reserves.
- Data analysis and reconciliation of the data used for actuarial analysis between the underwriting and finance systems.
- Assisting in the carrying out stress testing and in the calculations of the risk-based capital requirements for the Group.
- Assist in the financial modelling of business scenarios/projects to inform business decision making
- Assist the Business Units and Risk Department in identifying and quantifying risk (insurance, market, credit risks etc.) where appropriate
- Research on emerging trends, competitive conditions and operational changes
- Provide specialist support of the valuation process and provide insights on the group financial results and performance,
- Develop and maintain tools to analyse actuarial data and results to enhance management reporting
Candidate Profile
Qualifications: Degree in Actuarial Science, Statistics or Mathematics
Professional: Studying towards an Actuarial qualification with at least 5 actuarial professional exams passed from the IFOA or SOA
Experience
- 3+ years' relevant actuarial experience. *Experience in non-life and life insurance valuations
- Knowledge of IFRS 17
- Prophet, DCS, VBA, SQL,R or any other programing knowledge would be advantageous Competencies
- Strong technical skills and attention to detail
- Ability to communicate effectively to diverse technical and non-technical audiences
- Ability to collaborate effectively
- Ability to work on a range of deliverables
- Ad-hoc projects: Support the delivery of relevant projects objectives
Application Procedure: Interested Candidates for this role shall be required send an Application letter and a CV to vacancies [at] waicare [dot] com.
Closing date for application: 30 January 2023
