Junior Actuarial Analyst – Life Business

Old Mutual Kenya is a financial services group offering banking, insurance, and investment solutions.

The Junior Actuarial Analyst will play a crucial role in the Life actuarial department, assisting with precise valuations, IFRS 17 and solvency reporting, and comprehensive actuarial analysis. The position involves financial modelling and providing essential technical insights to guide management decisions, ensure compliance with regulatory standards, and contribute to the efficient management of the Life business operations.

1. Provide technical actuarial support by assisting with internal actuarial liability valuations for relevant insurance subsidiaries, IFRS 17 valuations, profitability/surplus analysis, and embedded value calculations using Prophet and MS Excel for OM Life entities.
2. Support experience investigations, including profitability analysis and other relevant actuarial studies to inform business decisions.
3. Assist with solvency computations for the entity on a risk-based capital basis, including conducting solvency stress tests.
4. Contribute to financial modelling of business scenarios and projects to support decision-making.
5. Help manage Life Systems such as Prophet, Thought Express, and OIPA.
6. Support business planning by assisting with financial and solvency projections for life entities, and performing stress and scenario analysis on planned figures.
7. Aid in carrying out reinsurance analyses and optimizing reinsurance strategies.
8. Prepare and present results and reports to businesses and subsidiary board committees, including Board papers and regulatory solvency and valuation reports.
9. Assist Business Units and the Risk Department in identifying and quantifying various risks, including insurance, market, and credit risks.
10. Support investment strategy development, formulation, review, and monitoring, including Unit Pricing support and BSA management.
11. Perform other assigned duties as required by supervisors or management.

1. Bachelor's Degree in Actuarial Science.
2. Minimum of 2-5 years of relevant technical experience.
3. Demonstrated progress with actuarial examinations, indicating strong actuarial knowledge.
4. Strong actuarial technical skills.
5. Proficiency in Prophet software or other reserving software.
6. Strong analytical skills.
7. Strong data programming skills.
8. Foundational knowledge of current insurance regulations, capital markets, and other relevant guidelines.
9. Excellent analytical and problem-solving skills.
10. Good data handling knowledge.
11. Strong business awareness.
12. Effective communication and presentation skills.
13. Ability to prioritize tasks and manage a diverse range of deliverables simultaneously.
14. Capability to work with minimal supervision.
15. Good interpersonal skills.
16. Proficiency in Microsoft Office packages.