Assistant Manager – Actuarial at CIC Insurance Group

On Thursday, November 21st, 2013

CIC Insurance Group is the leading Co-operative insurer in Africa and one of the top three insurance companies in the country. 

CIC Insurance Group consists of three subsidiaries; CIC General Ltd, CIC Life Assurance Ltd and CIC Asset Management Ltd; currently CIC has businesses operating all over Kenya with 19 branches. 
In order to execute its ambitious growth and expansion strategy, CIC wishes to recruit high caliber individuals to fill the following position:

Assistant Manager – Actuarial

Role/Job Description

  • Performing quarterly valuations and preparing presentations and reports explaining the implications to managers and directors including advice on their emerging risks and implications
  • Calculation of all insurance contract reserves
  • Analysing statistical data in order to determine rates for different risks in acceptance of proposals for new policies and products in conjunction with the underwriting department
  • Using modelling techniques and statistical concepts to determine probability and assess risks and give best estimates; implementing the actuarial control cycle
  • Monitoring risk within business positions to ensure excessive risks are not taken during the fast pace of business execution
  • Monitor the level of profitability and performance of new and existing products
  • Working with IT professionals to develop systems to ensure optimal business performance
  • Providing technical support to the marketing function as they obtain market intelligence by researching and identifying new products and new business areas and ideas
  • Supervising, mentoring and coaching staff under supervision
  • Supervise and drive all data management, clean up and consolidation, and champion data integrity
  • Guide and drive all statistical modeling to support statutory and non-statutory actuarial valuations and capital reserves
  • Monitor expense ratios and perform expense analyses
  • Provide analysis to support the application of appropriate reinsurance arrangements
  • Analysis of industry statistics and monitoring of key metrics including those supporting credit ratings
  • Ensuring compliance to IRA regulation
  • Provide statistical analysis and modeling for the risk management function
  • Drive the implementation of asset liability matching and modeling
Academic Qualification
  • Minimum BSc. Actuarial Science
Professional Qualification
  • Progress in Institute of Actuaries examinations – at least 10 papers completed including at least one ST and CA1
Relevant Work Experience
  • Total of at least 3 years working experience the insurance industry.
  • At least 1 years’ experience at a supervisory level
  • Experience in statistical modelling and actuarial software
Skills/Knowledge
  • Excellent communication skills
  • Excellent in statistical analysis
  • Excellent use of excel
  • Knowledge of statistical packages or programming (e.g. SAS, Visual Basic)
  • Problem solving skills with attention to detail
  • Consistent progress in Actuarial exams
  • Proficient knowledge on the insurance industry in Kenya
  • Excellent report writing and presentation skills
  • Knowledge of reinsurance arrangements and structures
Professional Qualification
  • Progress in Institute of Actuaries examinations – at least 10 papers completed including at least one ST and CA1
Relevant Work Experience
  • Total of at least 3 years working experience the insurance industry.
Skills/Knowledge
  • Excellent communication skills
  • Excellent in statistical analysis
  • Excellent use of excel
  • Knowledge of statistical packages or programming (e.g. SAS, Visual Basic)
  • Problem solving skills with attention to detail
  • Consistent progress in Actuarial exams
  • Proficient knowledge on the insurance industry in Kenya
  • Excellent report writing and presentation skills
  • Knowledge of reinsurance arrangements and structures
Personal Attributes
  • Must have integrity and professionalism
  • Must be a good team leader and player
  • Must be able to pay good attention to detail
  • Must be able to work under pressure
  • Must be able to work within tight deadlines
  • Must be self-motivated
  • Must be able to work under minimum supervision
  • Must be organised and efficient
Remuneration: As per company policy and actuarial study policy

Expected Start Date: 1 January 2014

If you have the aforementioned professional and academic qualifications and you are ready to execute the above mandate, kindly send your resume to the address below indicating on the subject of your email the job title.

For example: Ref : Application for Assistant Manager-Actuarial  Position to:

The Group Human Resources Manager
CIC Insurance Group Ltd
Strictly through Email to: [email protected]

The application should reach us by close of business on 22nd November, 2013. 

Please note only short listed candidate will be contacted. 
If you do not hear from us by 30th December, 2013 consider your application unsuccessful.
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