Jobs at:Old Mutual
Deadline of this Job:
30 December 2022
Date Posted: Friday, December 16, 2022 , Base Salary: Not Disclosed
• To assist the Actuarial Specialist in carrying out valuation of technical liabilities in GI and Health business, capital adequacy assessments, prepare reports and carry out any other duties as delegated by the head of department
• Conducts accuracy checks on data before it is used and to analyse data to draw conclusions and make recommendations
• To induct and supervise actuarial interns as they may be assigned to the business and build their technical capacity.
Reserving and Liability Valuation:
• Assist in carrying out reserving and triangulation of actuarial liability valuations for the respective East Africa Entities as allocated by the Head of Function
• Ensure reserving methodology used is in line with local regulation and Actuarial best practice standards
• Review of external actuaries’ report and collaboration with the appointed actuaries to produce the Financial Condition Report (FCR)
• Assist in implementation of the upcoming IFRS17 accounting standard and provide technical assistance
• Ensuring accuracy of data (valuation, pricing, and investigation data) before it is used.
• Analyse, Query and clean data as need be
• Produce a report capturing any identified data issues and track resolution with the different teams Underwriting, Claims, IT, Finance etc
• Collate and provide accurate data which is needed by the External Actuary and External Auditors as needed (End and Half Year)
• Support in drafting of various management and regulatory reports as may be required
• Support in analysis needed for reporting to RoA Actuarial Function and Group Reports
• Business partnering with contacts in underwriting, claims, finance, and other departments and providing analysis and support to improve underwriting results and data insights
• Assist in consolidation and submission of various analysis for the wider group
• Prepare monthly management reports on drivers of performance after end month reporting
• Contributing to portfolio deep dive, reinsurance analysis, Loyalty awards and analytic support
• Assist in Capital assessment and reporting
• Carry out industry performance reviews and reports as well as market research
Product Pricing and Review:
• Carry out pricing reviews and profit test of new products and revamped products
• Assist the Actuarial Specialist in liaising with the business in Product performance review and product pricing for P&C Business
This involves liaising with different departments to ensure that all relevant input is received
• Assist in pricing of high value business or tenders as may be requested by the business
• Assist the underwriting team in preparation of client performance reports
• Assist in carrying out reinsurance analysis to monitor the performance of reinsurance treaties and assist the businesses in exploring ways to optimise on reinsurance arrangements
• Participate in special projects as would be requested by the insurance companies within the group.
• Assist in Developing new tools and assist in improving processes to create added value across the actuarial department and other departments. (Automation)
Other reasonable duties that may be assigned from time to time.
Departmental Strategy: Support in implementation of the departmental strategy and tracking of strategic items
Education Requirement: No Requirements
Job Experience: No Requirements
Work Hours: 8
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