• Reporting to the Chief Operations Officer, the role holder will be responsible for the preparation and presentation of the required actuarial and other reports to management and regulators especially Annual Valuation and Financial Condition Reports and Quarterly Solvency Statements to the regulator.

Duties and responsibilities:

• Technical Actuarial Support; Conduct and/or review internal actuarial liability valuations analysis of profitability/surplus


• Aggregation of Results; Collate, review and interpret actuarial results


• Undertake and review; pricing, profitability, experience analysis, and other relevant actuarial investigations for relevant insurance Business Units to inform business decisions.


• Financial Modelling; assist with financial modelling of business scenarios/projects to inform business decision making.


• Product/Services Development, Pricing and Management; provide technical input in product development exercises, product lifecycle management and monitoring, existing products assessments and reviews, new products pricing and review of premium rates for existing products.


• Risk Management Support; assist the Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate and formulating appropriate risk mitigation measures.


• Economic Capital Modelling; assist with developing an Economic Capital Model for use in quantifying risk and risk-based capital requirements


• Investment Strategy Support; assist in developing/formulating appropriate investment strategies and/or review of, and monitoring of investment strategies


• Reinsurance and Underwriting Support; develop/assist with review of appropriateness, adequacy and cost efficiency of reinsurance and underwriting arrangements in place and/or formulating the same.


• Strategy and Business Planning Support; assist with business planning financial projections, strategy development and review, market and competitor analysis, internal business/financial analysis and make proposals on the Company’s medium to long term strategic plans


• Experience Monitoring; Conduct claims experience analysis, expense investigations, persistency/business retention studies, and other relevant actuarial investigations for insurance BUs to inform business decisions and to assist in actuarial work 


• Special Projects; participate in special projects as would be requested Management/relevant Boards.


• Systems Support; provide support to the Company’s operations in relation to administration and actuarial systems where possible.

Requirements for Appointment:

• Bachelor of Science in Actuarial Science, Mathematics, Statistics, or any other relevant field.


• Professional actuarial exams (Qualified actuary under IFOA/SOA or equivalent). 


• IFRS17 and actuarial modelling expertise.


• Proven leadership experience and membership to the Actuarial Society of Kenya


• Strong knowledge of reserving methodologies, financial reporting, and regulatory compliance.


• Excellent communication skills, with the ability to convey complex actuarial concepts to non-technical stakeholders.

Key Competencies

• In-depth knowledge of actuarial principles, reserving methodologies, and modeling techniques specific to the life insurance industry.


• Strong understanding of insurance products, pricing, and risk assessment


• Ability to interpret and analyze financial statements, reserving reports, and related financial data.


• Experience in managing financial projections and forecasting for life insurance liabilities


• Knowledge of relevant regulatory requirements and the ability to ensure compliance with industry standards and regulations.


• Excellent communication skills to convey complex actuarial concepts to non-technical stakeholders.


• Ability to adapt to changing business conditions and implement necessary adjustments to reserving strategies.


• In-depth knowledge of IFRS 17 standards and practical experience in their implementation


• Familiar with the current IRA, RBA, CMA and Central Bank regulations


• Relevant work experience: A minimum of 5 years’ working experience as a Senior Actuarial Services Officer in the Insurance industry or any position of increasing responsibility