Summary
Date Posted: Friday, December 06 2024, Base Salary: Not Disclosed

JOB DETAILS:
Job Description
• Ensure provision of Actuarial Services to Old Mutual Assurance Uganda Limited by working closely with Group Functions to meet business needs. This includes reserving, pricing, product reviews, experience reviews and solvency and capital management
• Conduct accuracy checks, and analyses data to draw conclusions and make recommendations
• Generate actuarial reports on various technical issues to Group Actuary, Senior Management and Board of Directors.
• Technical Actuarial Support; Conduct and/or review internal actuarial liability valuations, analysis of profitability/surplus, calculation and analysis of embedded value using Prophet and MS Excel.
• Audit support; Review of external actuaries’ report and collaboration with the appointed actuaries to produce the Financial Condition Report.
• Product Profitability Review; Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions and product development.
• Solvency and Capital management; Carry out solvency computation for the entity on a risk-based capital basis including solvency stress tests.
• Financial Modelling; assist with financial modelling of business scenarios/projects to inform business decision making.
• Strategy and Business Planning Support; assist with business planning financial projections and solvency projections. Perform stress and scenario analysis on the plan numbers.
• Reinsurance Support; Carry out a reinsurance analysis to explore ways to optimize on reinsurance arrangements.
• Reporting and Documentation; Presentation of results and reports to the board committees. Preparation of Board Papers and regulatory solvency and valuation reports.
• Risk Management support; assist the Business and Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate.
• Investment Strategy support; Develop/formulate appropriate investment strategies and/or review and monitoring of investment strategies the business.
• Other reasonable duties that may be assigned by Executive management and Board.

4. Knowledge & Experience
• Familiar with the current Insurance Regulations of Uganda, Capital markets and Central Bank regulations
• Exposure to other prudential regulations in other Eastern and Southern Africa markets is an added advantage.
• Strong actuarial technical skills
• Good understanding on the application of IFRS 17 Insurance Contracts accounting standard
• Knowledge of Prophet Software or other reserving software
• Strong analytical and reporting skills
• Strong data programming skills
• Demonstration of strong team management skills
• Good stakeholder engagement skills.

5. Qualifications
• Bachelor of Actuarial Science or other related finance or mathematics degree
• Minimum 6 years actuarial experience
• Actuarial Knowledge: Qualified actuary or nearly qualified with a minimum of 10 papers having been sat and passed.

Skills
• Actuarial Services, Audit Support, Business, Business Decisions, Business Needs, Capital Management, Decision Making, Drawing, Embedded Value, Executive Relationship Management, Exploration, Financial Modeling, Investment Strategies, Management Support, People Management, Product Profitability, Profitability, Profitability Analysis, Reinsurance, Risk Management, Scenario Analysis, Solvency, Strategic Support
• Competencies
• Balances Stakeholders
• Builds Networks
• Business Insight
• Collaborates
• Communicates Effectively
• Cultivates Innovation
• Decision Quality
• Drives Results
• Education
• NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Work Hours: 8

Experience in Months: 72

Level of Education: Bachelor Degree

Job application procedure
• Interested and qualified? Click here to apply

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