Actuarial Services Manager Job Madison Group

Insurance Jobs, Madison Group Jobs.

Key Responsibilities:

Actuarial Valuation and Regulatory Reporting

• Complete the internal implementation of the IFRS 17 standard.
• Lead the timely and accurate monthly valuation of actuarial liabilities.
• Ensure sufficient quality of valuation data used to calculate actuarial liabilities through data checks and clean-up.
• Ensure the methodologies implemented in the valuation are robust and best practice.
• Perform solvency calculations.
• Review the appointed actuary’s results and statutory reports.
• Provide timely and accurate regulatory reporting inputs.
• Present the various actuarial reports to the board.

Experience Analysis

• Perform investigations on mortality, lapse, expense and investment returns.
• Perform analysis of surplus to investigate deviations of the actual experience from the expected experience.
• Incorporate the findings from the experience analysis in updating assumptions on expected experience, and provide advice to relevant stakeholders.

Strategy and Budgeting

• Provide projections for actuarial liabilities, premiums, claims and investment income that are consistent with the experience and business strategy.
• Monitor the actual experience vs the budget to identify the causes of any deviations.
• Advise management on the impact of inputs on the overall strategy.

Product Development and Monitoring

• Engage management on prospective products to develop.
• Conduct pricing of new products ensuring profitability.
• Regularly monitor profitability of existing products based on current experience, and reprice if necessary.
• Assist business development in pricing of group life products to ensure profitability.
• Develop and update comprehensive quotation models for the sales team.
• Engage with the regulator on product approvals.

Balance Sheet Management

• Develop the Asset Liability Matching Policy and regularly monitor the extent to which the company’s assets match its liabilities.
• Conduct solvency projections to advise management on asset portfolio structuring.
• Perform reinsurance analysis to optimize reinsurance arrangements.
• Perform sensitivity, scenario and stress testing on the actuarial liabilities to identify the key assumptions for pricing and key inputs that the business should monitor.

Academic and Professional Qualifications required

• University Degree in Actuarial Science or any other related field.
• A Master’s degree in Actuarial Science or related field will be an added advantage.
• Advanced progression with actuarial exams (minimum of 11).
• At least 10 years’ experience in an Actuarial function with experience in valuations, IFRS 17 and product development.

How to Apply

Applications should be addressed to the Group Human Resources Manager, Madison Group Limited, Email: hr_recruitment@madison.co.ke so as to be received by Friday 5th September, 2025.