Head of Actuarial.

Posted : 2025-05-13
Closing : 2025-05-22
Position Scope

Job Description: Head of Actuarial.

Department: Actuarial

Reports to: General Manager

Job Purpose

To coordinate and lead the overall actuarial strategy for both Life and Non-Life insurance business segments in alignment with the Company's strategic objectives. The role is responsible for ensuring robust actuarial valuation, pricing, capital management, and financial reporting processes that support sound decision-making, risk management, and regulatory compliance.

Job Description

Key Responsibilities

A. Actuarial Valuation & Reporting

  1. Oversee internal actuarial reserving processes and ensure completion of year-end actuarial reserving certifications.
  2. Develop and deliver all actuarial reports required for regulatory and IFRS reporting on both Company and Group levels.
  3. Prepare and present quarterly actuarial reports to the Board, Board Risk Committee, and relevant statutory bodies.
  4. Ensure adequacy of technical reserves in compliance with statutory and professional standards.
  5. Continuously develop and refine actuarial models and reporting tools.
  6. Maintain high data quality standards to ensure accuracy and reliability of actuarial analyses.

B. Capital, Risk & Financial Management

  1. Monitor and report on the capital adequacy and solvency requirements of the Company.
  2. Conduct actuarial analysis to support budgeting, forecasting, and business planning.
  3. Develop and maintain internal models for risk assessment in collaboration with the risk management function.
  4. Support the identification and quantification of emerging risks and stress scenarios.

C. Product Development & Reinsurance

  1. Lead the actuarial support for new product development, including pricing and profitability testing.
  2. Regularly review and re-price existing products to ensure ongoing viability.
  3. Oversee and analyze reinsurance arrangements to ensure adequacy and optimization; lead the preparation of annual reinsurance certifications.

D. Asset-Liability Management (ALM) & Investment Support

  1. Maintain a robust ALM framework that aligns with the company's risk appetite.
  2. Participate actively in the Investment Committee; review the Investment Policy and prepare ALM reports for review and decision-making.

E. Governance, Compliance & Stakeholder Engagement

  1. Ensure proper documentation of actuarial methodologies, assumptions, and processes.
  2. Provide insights into the drivers of the Company's performance from an actuarial perspective.
  3. Lead effective communication with internal and external stakeholders on actuarial matters including regulators, auditors, and reinsurers.
  4. Benchmark and implement actuarial best practices aligned with industry standards and evolving regulatory frameworks.

F. Leadership & Capacity Building

  1. Drive change management and implementation of actuarial transformation initiatives.
  2. Train, mentor, and develop actuarial staff to achieve operational excellence and professional growth.

Requirements

Qualifications, Experience & Skills.

Education & Professional Qualifications

  • University Degree in Actuarial Science or equivalent.
  • At least 8 years' work, and at least 3 years in a leadership role.
  • Must have completed a minimum of 10 actuarial exams and demonstrate advanced progression toward fellowship.
  • Prior experience in a leadership or senior actuarial role is highly desirable.
  • Exposure to both Life and Non-Life actuarial functions will be an added advantage.

Technical & Functional Skills

  • In-depth knowledge of actuarial methodologies, insurance regulations, solvency requirements, and IFRS reporting frameworks.
  • Strong analytical and modeling skills, with proficiency in actuarial software.
  • Proven ability to communicate complex actuarial insights to both technical and non-technical stakeholders.
  • High level of integrity, attention to detail, and sound judgment in decision-making.
  • Demonstrated leadership ability with experience in team management and cross-functional collaboration.

Skills

Strong analytical and modeling skills, with proficiency in actuarial software. Proven ability to communicate complex actuarial insights to both technical and non-technical stakeholders. High level of integrity, attention to detail, and sound judgment in decision-making.