Summary
Date Posted: Monday, January 10, 2022 , Base Salary: Not Disclosed

JOB DETAILS:
Job Description
The incumbent will be responsible for:- proactively carrying out technical actuarial work, often using complex systems and packages. The incumbent has responsibility for specific deliveries and is individually accountable for achieving results through own efforts

Provide the following services to UAP Insurance Tanzania (UAPTZ) by working through the Group Actuarial Team:
• Technical Actuarial Support: Conduct and/or review internal actuarial liability valuations for UAPTZ, analysis of profitability/surplus
• Aggregation of Results: Collate, review and interpret actuarial results for UAP Insurance Tanzania
• Undertake and review: Pricing, profitability, experience analysis, and other relevant actuarial investigations for relevant insurance BUs to inform business decisions.
• Product/Services Development, Pricing and Management: provide technical input in product development exercises, product lifecycle management and monitoring, existing products assessments and reviews, new products pricing and review of premium rates for existing products for the company
• Risk Management Support: assist BUs/Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate and formulating appropriate risk mitigation measures for UAPTZ and having an enterprise wide view
• Solvency and Capital management: Carry out solvency computation for UAPTZ on the current regulatory capital regime and proposed risk-based capital basis including solvency stress tests.
• Investment Strategy Support: assist in developing/formulating appropriate investment strategies and/or review of, and monitoring of investment strategies for the company
• Strategy and Business Planning Support: assist with business planning financial projections, strategy development and review, market and competitor analysis, internal business/financial analysis and make proposals on the company’s medium to long term strategic plans
• Experience Monitoring: Conduct claims experience analysis, expense investigations, persistency/business retention studies, and other relevant actuarial investigations for the company to inform business decisions and to assist in actuarial work
• Reinsurance and Underwriting Support:
• Develop/assist with review of appropriateness, adequacy and cost efficiency of reinsurance and underwriting arrangements in place and/or formulating the same for the company
• Collating treaty reinsurance statistics and participating in the treaty renewal negotiation
• Recovering excess of loss claims from reinsurance on timely basis as the loss are admitted
• Monthly review of the premium and claims registers for accuracy and completeness of the premiums ceded and claims recoveries
• Preparing proportional treaty statements for reinsurance on quarterly basis
• Preparing claim triangulation reports
• Documenting cash calls for settlement by reinsurers
• Preparing profit commission and excess of loss adjustment statements
• Documentation: Preparation of the required actuarial and other reports to the management, Boards and regulators especially Annual Valuation and Financial Condition Reports and Quarterly Solvency Statements to the regulator, Board and Management

Education
Bachelor Of Accounting Sciences: Actuarial Science (Required)

Education Requirement: No Requirements

Job Experience: No Requirements

Work Hours: 8

Job application procedure
Apply at: https://oldmutual.wd3.myworkdayjobs.com/en-US/Old_Mutual_Careers/job/Dar-Es-Salaam/Intermediate-Actuarial-Specialist--OMAO-_JR-18154 
The deadline for submitting the application is 22 January 2022.

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