Job Title: Actuarial Manager
Employment Type: Full-time
Application Deadline: 31st October 2024
Location: Kampala, Uganda
Organization: Old Mutual Uganda
Position Summary:
Old Mutual Uganda is seeking an experienced Actuarial Manager to provide actuarial expertise and ensure compliance with regulatory standards. This role involves working closely with Group Functions to address business needs, including pricing, reserving, product and experience reviews, solvency management, and supporting strategic business decisions.
Key Responsibilities
- Actuarial Services Provision: Ensure accurate and comprehensive actuarial services for Old Mutual Assurance Uganda, including reserving, pricing, solvency management, and experience reviews.
- Data Analysis and Reporting: Conduct accuracy checks, analyze data to generate actuarial reports, and present insights to the Group Actuary, Senior Management, and Board.
- Technical Actuarial Support: Perform actuarial liability valuations, analyze profitability, and calculate embedded values using Prophet and MS Excel.
- Audit and Collaboration: Review external actuaries’ reports, collaborate with appointed actuaries, and contribute to the Financial Condition Report.
- Product Profitability Review: Conduct analyses on product profitability, experience analysis, and related actuarial investigations to guide business decisions.
- Solvency and Capital Management: Compute solvency on a risk-based capital basis, perform stress tests, and ensure solvency requirements are met.
- Financial Modelling and Planning Support: Assist with financial modeling and stress analysis for business planning and solvency projections.
- Reinsurance Analysis: Explore reinsurance options to optimize arrangements and improve financial efficiency.
- Documentation and Board Reporting: Prepare and present reports to the Board and regulatory bodies, ensuring documentation aligns with business objectives.
- Risk and Investment Strategy Support: Assist in risk quantification and support investment strategy formulation and monitoring.
- Team Leadership and Development: Mentor and manage actuarial team members, promoting skill development and stakeholder engagement.
Qualifications and Experience
- Education: Bachelor’s degree in Actuarial Science, Finance, or Mathematics (required).
- Experience: Minimum of 6 years of actuarial experience, ideally with exposure to insurance regulations in Uganda and other regions in Eastern and Southern Africa.
- Professional Qualification: Qualified actuary or nearly qualified with at least 10 passed actuarial exams.
- Technical Proficiency: Knowledge of Prophet Software or equivalent reserving tools, strong analytical and reporting skills, and data programming expertise.
- Regulatory Knowledge: Familiarity with Uganda’s insurance regulations, IFRS 17, and other relevant financial and prudential standards.
- Skills: Actuarial services, audit support, business decision-making, capital management, profitability analysis, reinsurance, solvency management, scenario analysis, and strategic support.
Skills
- Actuarial Services, Audit Support, Business Decision Making, Capital Management, Financial Modeling, Investment Strategy, Profitability Analysis, Reinsurance, Risk Management, Solvency, Team Management, and Stakeholder Engagement.
About Old Mutual Uganda:
Old Mutual Uganda provides actuarial services, risk management, and financial planning solutions in the insurance industry.
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