Latest Job January 2022 at Old Mutual/UAP Insurance, Intermediate Actuarial Specialist
Intermediate Actuarial Specialist
Job Location: Dar es salaam
Job Description
The incumbent will be responsible for:- proactively carrying out technical actuarial work, often using complex systems and packages. The incumbent has responsibility for specific deliveries and is individually accountable for achieving results through own efforts
Provide the following services to UAP Insurance Tanzania (UAPTZ) by working through the Group Actuarial Team:
Technical Actuarial Support: Conduct and/or review internal actuarial liability valuations for UAPTZ, analysis of profitability/surplus
Aggregation of Results: Collate, review and interpret actuarial results for UAP Insurance Tanzania
Undertake and review: Pricing, profitability, experience analysis, and other relevant actuarial investigations for relevant insurance BUs to inform business decisions.
Product/Services Development, Pricing and Management: provide technical input in product development exercises, product lifecycle management and monitoring, existing products assessments and reviews, new products pricing and review of premium rates for existing products for the company
Risk Management Support: assist BUs/Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate and formulating appropriate risk mitigation measures for UAPTZ and having an enterprise wide view
Solvency and Capital management: Carry out solvency computation for UAPTZ on the current regulatory capital regime and proposed risk-based capital basis including solvency stress tests.
Investment Strategy Support: assist in developing/formulating appropriate investment strategies and/or review of, and monitoring of investment strategies for the company
Strategy and Business Planning Support: assist with business planning financial projections, strategy development and review, market and competitor analysis, internal business/financial analysis and make proposals on the company’s medium to long term strategic plans
Experience Monitoring: Conduct claims experience analysis, expense investigations, persistency/business retention studies, and other relevant actuarial investigations for the company to inform business decisions and to assist in actuarial work
Reinsurance and Underwriting Support:
Develop/assist with review of appropriateness, adequacy and cost efficiency of reinsurance and underwriting arrangements in place and/or formulating the same for the company
Collating treaty reinsurance statistics and participating in the treaty renewal negotiation
Recovering excess of loss claims from reinsurance on timely basis as the loss are admitted
Monthly review of the premium and claims registers for accuracy and completeness of the premiums ceded and claims recoveries
Preparing proportional treaty statements for reinsurance on quarterly basis
Preparing claim triangulation reports
Documenting cash calls for settlement by reinsurers
Preparing profit commission and excess of loss adjustment statements
Documentation: Preparation of the required actuarial and other reports to the management, Boards and regulators especially Annual Valuation and Financial Condition Reports and Quarterly Solvency Statements to the regulator, Board and Management
Read more: Insurance Group of Tanzania Limited
Skills
Education
Bachelor Of Accounting Sciences: Actuarial Science (Required)
The deadline for submitting the application is 22 January 2022.
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