Long Description 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 %
Job Responsibilities
Duties and responsibilities include but not limited to:
Actuary & Portfolio Management:
* 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.
Pricing and Underwriting:
* 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.
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.
* 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.
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.
* 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.
Employee Relation:
* 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.
Minimum of 2 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.
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
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