Assistant Manager Actuarial at Kenya Reinsurance Corporation Limited (Kenya Re)

Job Description

ASSISTANT MANAGER ACTUARIAL – GRADE (KRC 3C) REF NO: KRC/HR/2025/003

Reports to: Manager Actuarial

Job Purpose.

This job role actuary is to provide independent advice on the financial risks facing an insurer; determine profitability and sustainability of coverage of policies. The primary responsibility is to assess and manage the financial risks associated with reinsurance contracts and portfolios.

Primary Responsibilities

Duties and responsibilities at this level will entail: –

Assist in computations and in interpretation of statutory and regulatory requirements in relation to actuarial functions, capital adequacy, technical provisions, retrocession arrangements and premium levels.
Participate in cross- functional teams to develop enhanced systems/processes/programs/policies to support business needs.
Participate in assessing risks associated with different reinsurance contracts, products and assist underwriters in evaluating their potential profitability.
Research and train internal and external clients.
Prepare actuarial valuation for general and life business lines for quarterly and statutory returns as well as Management and board reporting.
To support the development of new reinsurance products that meet market demands and corporations’ profitability targets by assessing the potential losses and profitability of such offerings/products.
Assist underwriting functions on pricing and or reserving of life, health and non-life as well as review of investment policy and results of asset liability and modelling.
Assist in computation of cashflows and financial disclosures under IFRS 17.
Assist the head of department in collating and coordinating information with external auditor, credit rating agencies, regulators and other stakeholders.
Person Specifications

Academic Qualifications

A relevant bachelor’s degree from a recognized institution.
Master’s degree in any field or its equivalent from a recognized institution will be an added advantage.

Professional Qualifications

Be a member of Institute of Faculty of Actuaries (IFOA) or its equivalent with a minimum of 11 actuarial papers completed. (Attach evidence of papers passed)
Member of recognized professional actuarial body.
Fulfilled the requirements of Chapter six of the constitution
Experience

At least seven (7) years relevant work experience with at least three (3) years in Management.
Demonstrate team management experience and Board reporting.
Experience in IFRS 17 reporting and modelling will be an added advantage.
Understanding IFRS 9 and relevant disclosures will be an added advantage

Other Requirements

Possess excellent interpersonal and communication skills.
Excellent planning organizing, problem solving and ability to work under pressure to meet deadlines.
Team player with excellent analytical and presentation skills.
Knowledge of auditing concepts and principles.