Assistant Manager (Grade KRC 3C) – Actuarial

Kenya Reinsurance Corporation Limited (Kenya Re) is seeking a qualified and experienced professional for the position of Assistant Manager (Grade KRC 3C) – Actuarial in Nairobi. The role supports the delivery of actuarial solutions through risk analysis, pricing, reserving and financial modelling to strengthen the profitability and sustainability of Kenya Re’s reinsurance portfolio.

Key Job Information

• Position: Assistant Manager (Grade KRC 3C) – Actuarial
• Employer: Kenya Reinsurance Corporation Limited (Kenya Re)
• Location: Nairobi, Kenya
• Employment Type: Full Time
• Department: Actuarial & Insurance
• Reports To: Manager, Actuarial

About the Role

The Assistant Manager – Actuarial will provide technical and analytical support across actuarial, pricing, reserving, risk management and product development activities. The position will contribute to informed decision-making through actuarial analysis, financial modelling and assessment of risks and liabilities.

The successful candidate will also support regulatory reporting, including Insurance Regulatory Authority (IRA) quarterly and annual returns, while contributing to compliance, risk monitoring and cross-functional initiatives.

Key Responsibilities

Actuarial and Pricing Support

• Interpret statutory and regulatory requirements relating to actuarial functions, capital adequacy, technical provisions and premium levels.
• Contribute to actuarial and risk analysis for pricing new and existing products.
• Provide technical and analytical support to underwriting teams on pricing matters.
• Analyse data and construct probability tables to forecast risk and liabilities.
• Prepare actuarial valuations for general and life business lines and support IRA quarterly and annual returns.

Reserving, Modelling and Product Development

• Assist with independent actuarial and underwriting projects.
• Contribute to the development of actuarial policies and guidelines.
• Support the development of reinsurance products aligned with market demands and profitability targets.
• Participate in budgeting, including projections of future revenue streams and actuarial advice on business structure.
• Support underwriting functions with pricing and review of life, health and non-life rates.

Risk and Compliance Coordination

• Participate in evaluating risk management strategies, policies, standards and procedures.
• Prepare compliance programmes and conduct continuous monitoring of legal and regulatory requirements.
• Support business functions in managing risks across the Corporation.
• Monitor emerging external trends and factors that may affect the Corporation’s risk profile.
• Prepare quarterly reports on enterprise-wide risk and compliance issues for management.

Cross-Functional Support

• Participate in cross-functional teams developing systems, processes, programmes and policies.
• Develop and train internal and external clients on actuarial and risk matters.
• Conduct research on functional issues using a variety of relevant resources.

Required Qualifications

• Bachelor’s degree in Actuarial Science, Statistics, Mathematics, Commerce, Business Administration, Risk Management, Insurance or an equivalent qualification from a recognised institution.
• Master’s degree in Actuarial Science, Statistics, Mathematics, Business Administration, Strategic Management, Risk Management, Insurance or an equivalent qualification from a recognised institution.
• Membership of the Institute and Faculty of Actuaries (IFoA) or an equivalent body, with a minimum of 11 actuarial papers completed.
• Membership in good standing of a recognised professional actuarial body.
• Management course lasting at least four weeks from a recognised institution.
• At least seven years of relevant work experience, including three years at supervisory level in a reputable organisation.
• Proven experience preparing IRA quarterly and annual returns.
• Experience in IFRS 17 reporting and modelling.
• Demonstrated merit, managerial capability and professional competence through work performance and results.
• Demonstrated team management experience and board reporting.
• Understanding of IFRS 9 and relevant disclosures is an added advantage.
• Proficiency in computer applications.
• Must fulfil the requirements of Chapter Six of the Constitution of Kenya.

Key Skills and Competencies

• Excellent interpersonal, communication and stakeholder management skills.
• Strong analytical, negotiation and problem-solving abilities.
• Superior planning, organising and time-management skills.
• Strong attention to detail and value-for-money awareness.
• Ability to work effectively under pressure and meet tight deadlines.
• Strong actuarial, risk management and insurance knowledge.

How to Apply

The provided vacancy information does not specify the application deadline, application procedure, application link or required supporting documents. Candidates should refer to the official Kenya Re recruitment instructions for the applicable application process.