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Senior Manager Actuarial - Jubilee Insurance | Apply Now for a Rewarding Career!

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  • Experience Required:7 Years
  • Total Positions:1
  • Job Type: Full Time
  • Job Category: Actuarial
  • Minimum Education: Degree
  • Job Location: Nairobi, Kenya
  • Posted on: August 30, 2023
  • Last Date: September 4, 2023

Job Description

Job Ref. No. JLIL164
Position: Senior Manager – Actuarial
Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa.
Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in
East Africa, handling Life, Pensions, General and Medical Insurance. Today, Jubilee is the number one insurer in East
Africa with over 450,000 clients. Jubilee Insurance has a network of offices in Kenya, Uganda, Tanzania, Burundi and
Mauritius. It is the only ISO certified insurance group listed on the three East Africa stock exchanges – The Nairobi
Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities Exchange. Its regional offices are
highly rated on leadership, quality and risk management and have been awarded an AA- in Kenya and Uganda, and an
A+ in Tanzania. For more information, visit
We currently have an exciting career opportunity for Senior Manager – Actuarial within Jubilee Life Insurance
Limited. The position holder will report to the Regional Head – Actuarial, Life and will be based at Head Office in
Role Purpose
The role provides actuarial modelling and reporting in IFRS17 financial reporting, product development & profit-testing,
solvency, management reporting and regulatory compliance. The role holder will also play a crucial role in analyzing
and assessing the financial risks associated with the life insurance products while working closely with a team of actuaries
and other professionals to develop, implement, and manage actuarial models, methodologies, and processes.

Main Responsibilities
1. Actuarial reporting for financial & regulatory compliance. This will include actuarial reserving, IFRS17 modelling,
Financial Condition Reporting, Solvency and Risk Based Capital reports
2. Product Development: -
 Pricing, profit-testing, system set-up
 Development of policy documents for new products
 Developing illustrations for new products
 Ongoing profitability monitoring of the product
 Scenario & sensitivity testing
3. Actuarial experience analyses including mortality investigations; persistency; expenses; investment returns;
analysis of reserves & surplus. Conduct in-depth analysis of life insurance products, including pricing, reserving,
and valuation. Evaluate policyholder behavior and mortality/morbidity experience to provide accurate actuarial
4. Value of new business, embedded value & Asset Liability Management valuations
5. Projections and Budgeting: Projected actuarial reporting for financial statements & strategic planning
6. Actuarial risk technical modelling and use of internal models. Build and enhance actuarial models and methodologies
to support pricing, reserving, and risk analysis. Stay updated with the latest actuarial techniques and industry best
7. Process Improvement: Identify opportunities to enhance actuarial processes, methodologies, and systems. Drive
efficiency and automation initiatives to streamline actuarial operations.
8. Team Management: Lead a team of actuaries and actuarial analysts, providing guidance, coaching, and technical
expertise. Foster a collaborative work environment and promote professional development within the team.
9. Stakeholder Communication: Collaborate with cross-functional teams, including underwriting, finance, and
product development, to provide actuarial insights and support business decisions. Communicate complex
actuarial concepts effectively to both technical and non-technical stakeholders.
10. Perform other duties as may be assigned from time to time in line with your role.
Classified as Confidential Recipient Only

Key Competencies
1. Leadership & project management skills
2. Accountability for results
3. Diligence and accuracy
4. Continuous innovation
5. Excellent communication and interpersonal skills
6. Excellent actuarial judgement skills
7. Strong analytical, strategic thinking, and problem-solving skills

1. Bachelor’s Degree in Actuarial Science, Mathematics, Statistics or any other related field.
2. Professional actuarial exams (nearly qualified actuary under IFOA/SOA or equivalent)
3. IFRS17 and actuarial technical aptitude
4. Actuarial modelling and software skills

Relevant Experience
1. Minimum of 7-8 years’ relevant experience, three of which are in a supervisory role.

Skills Required

Communication Skills
Interpersonal Skills

Application Details

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