Actuarial Manager

Long Description

Actuary & Portfolio Management:
Delivers timely and accurate actuarial data and analysis to support decision-
making. Certifies external data requests for customers or regulators as
necessary.

Works with IT to ensure that analytical data sources (claim, eligibility,
etc.) are available and accurate

Analyze of corporate loss and loss expense reserves on a quarterly basis.
Resulting analysis and direction are presented quarterly. Communicates reserve
analysis and direction to the Board of Directors.

Provides actuarial support for product development and design, provider
contracting and analysis, and other areas as necessary.

Pricing and Underwriting:
Elaborate a multiplicative GLM rating structure or other pricing tool with
quarterly updates to ensure optimal market price capturing the most recent
claims ultimate trends as well competitors pricing strategies.

Assist in the assessment of the underwriting processes and systems and
identify improvement opportunities in coordination with Head of Underwriting
department.

Elaborate a set of robust management information reports, monitor the
profitability of products on regular basis and manage to achieve desired loss
ratio.

Plan product developments to improve the attractiveness of products in the
market. Ensure all services and products are in accordance with established
policies and procedures.

Technical provisions calculation – Reserving:
Ensure appropriate methods and models are used in the calculation of technical
provisions.

Improve on the technical reserve development models currently in use.

Compare best estimates against actual experience. AvE analysis.

Ensure that actuarial policies, processes, and procedures meet the Company’s
requirements.

Develop systems and management information to support and improve business
decision making.

Coordinate, manage and report results of actuarial analyses for key
stakeholders both internal and external to Actuarial.

Oversee and manage the data and the application systems required to support
the reserving function, ensuring the data is accurately and consistently
captured.

Add value to the business by ensuring that the reserve analyses are segmented
to mirror the business, reflect changes in underwriting strategies and
appetites and provide the appropriate level of detail to identify key trends
and macroeconomic factors that are impacting the business.
Job Summary
Ensure appropriate methods and models are used in the calculation of technical
provisions & Improve on the technical reserve development models currently in
use & compare best estimates against actual experience. AvE analysis %
Ensuring compliance with the local regulatory requirements and liaising with
external independent Actuaries, assist in creating a high performing work
environment for the business.
Job Responsibilities

Other Actuarial Key responsibilities:
Provide Actuarial support to other departments if necessary.

Ensuring compliance with the local regulatory requirements and liaising with
external independent Actuaries.

Maintaining and amending as necessary the internal capital model of the
company. Update parameters and assumptions feeding into the capital model.
Liaising with underwriting, claims and reinsurance department in setting
assumptions.

Coordination with Finance department for Budgeting and Planning.

Coordination with Claims team to quantify the impact of initiatives and
specific IBNR areas

Perform treaty renewals analysis and make the required amendments on treaty’s
terms & conditions based on the results including performing mortality
studies

Administration Process

Implement the concerned policies & procedures and the technology solutions to
deliver those to improve department records / data management and ensure it is
maintained in standards for audit.

Team Leadership

Monitor subordinates team performance and support the company general
management with respect to related policies and procedures.

Familiarize the team with the customer needs, specifications, design targets,
the development process, design standards, techniques, and tools to support
task performance.

Assure that the team members have the necessary education and training to
effectively participate on the team

Create an environment oriented to trust, open communication, creative
thinking, and cohesive team effort

Listen to team members’ feedback and resolve any issues or conflicts and
delegate tasks and set deadlines

Employee Relation:
Ensure maintaining disciplined and motivated work climate across the assigned
team.

Respond to internal & external employee related queries, requests, issues and
provide assistance.

Ensure the smooth and adequate flow of information within the company to
facilitate business operations.

Assist in creating a high performing work environment for the business.
Candidate Requirements
Bachelor’s degree from an accredited college/university with a strong academic
background in mathematics, statistics or actuarial science and insurance.

Degree holder with reasonable progress in actuarial professional
qualification.

Minimum of ‎5 years work experience.

Highly proficient in the details of applicable technical tools and maintains
skills through direct participation in projects.

Ability to lead a process and be accountable for its execution, timeline, and
deliverables.

Strong ability to lead, coach, and mentor staff.

Excellent technical expertise gained from working as an Actuary.

Knowledge of the Insurance industry.

Ability to create spreadsheets and utilize various computer applications.
Education Bachelor’s Degree in Science or Business Administration