Actuarial Officer III at Insurance Regulatory Authority (IRA)

DIVISION/SECTION Technical
GRADE/LEVEL IRA 8

IMMEDIATE SUPERVISOR Manager, Actuarial Services

PURPOSE OF THE JOB (JOB SUMMARY)

Responsible for the implementation of actuarial policies and procedures as well as monitoring and evaluating their effectiveness in achieving the Authority’s goals and objectives

PRINCIPAL RESPONSIBILITIES

Key Responsibilities Main task

1. Actuarial Analysis Analyse applications for new products
2. Analyse actuarial valuation and financial condition reports for life and general business insurance
3. Identify actuarial parameters suitable for the insurance industry
4. Analyse premium rates for general insurance companies
5. Analyse technical reserves for insurers
6. Develop and update IRA Electronic Regulatory
7. System (ERS) new releases and templates
8. Policy development and Compliance
9. Participate in the formulation and development of actuarial policies and procedures
10. Participate in on-site inspections of insurance companies

Key Responsibilities Main task

1. Carry out actuarial investigation and analysis of the insurers and advice the management and the Board
2. Develop and update Risk Based Supervision (RBS) Models, Capital models and other Actuarial Models

REQUIRED QUALIFICATIONS

Education and knowledge

1. Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or its equivalent.
2. Minimum KCSE Grade B+
3. Proficiency in ICT

Experience

This is an entry level job with no experience required

Skills

1. Strong communication and reporting skills;
2. Strong organization and inter personal skills; and
3. Good analytical, investigative, auditing and inspection skills

Competences

1. Professionalism;
2. Ethical and integrity;
3. Strategic thinking; and
4. Ability to work under pressure, prioritize and multi task