HEAD ACTUARIAL SERVICES

WAICA REINSURANCE CORPORATION PLC

HEAD ACTUARIAL SERVICES WAICA REINSURANCE CORPORATION PLC

 

Job Requirements

Education:Bachelor's degree

Work experience:7 years

Language skills:English

Job Summary

Contract Type:Full time

Job Purpose

 

The Head Actuarial Services role is responsible for managing the Actuarial function of the Group supporting both life and non-life Departments.

The work will include providing specialist support of the valuation process and provide insights on the Group risk financial results and performance, while ensuring appropriate controls. The Head Actuarial Services reports to the Group Chief Finance Officer.

Qualifications

Qualified Actuary institute.

Experience:

5+ years’ relevant actuarial experience.

Experience in non-life and life insurance valuations

Knowledge of IFRS1 7

Prophet, DCS, VBA, SQL or any other program knowledge would be advantageous.

Competencies:

Strong technical skills and attention to detail

Ability to communicate effectively to diverse technical and non-technical audiences

Ability to collaborate effectively

Ability to work on a range of deliverables

Ad-hoc projects Support the delivery of relevant projects objectives.

 Responsibilities

Job Duties and Responsibilities

IFRS development and implementation through supporting nd providing guidance on various elements of IFRS 17 development for the corporate business including data and infrastructure development, policy and methodology formulation, transition calculations, actuarial modelling support, actuarial and finance process enablement

Develops rates, rating plans and pricing strategies using actuarial techniques and competitive analyses

Develops product pricing levels, factors and methods to ensure premium and revenue flow and profit margins for the various product lines consistent with corporate strategic goals.

Applies actuarial methods and principles to obtain rate indications, complete projects, analyse results and make recommendations Proposes improvements in the accuracy and sophistication of pricing and forecasting models

Research on emerging trends, competitive conditions and operational changes

Assists with evaluating loss and loss adjustment expense reserve adequacy

Reconciles data used in pricing and reserving models to Company financial data Manage Actuarial Department to ensure department goals and objectives are met.

Provide the Group with actuarial valuations of the impact of any proposed new product designs on an as-needed basis.

Provide the Group with regular and ad hoc reports which communicate current and future near- and long-term projections of financial performance of the various product lines to facilitate corporate decision and the development of corporate strategies and goals.

Works with the Finance Department to develop reserve amounts for premium deficiency reserves on a regular or as- needed basis.

lBNR calculations and Data Analysis.

Provide specialist support of the valuation process and provide insights on the group risk financial results and performance, while ensuring appropriate controls, including market consistent embedded value, Analysis. of surplus and embedded value, solvency capital calculation and earnings at risk

Develop and maintain tools to analyse actuarial data and results to enhance management reporting.