- The successful candidate shall report to the Director, Central Operations & Special Risks and will be responsible for delivering the best estimate reserves by building analytical projections that integrate a range of actuarial techniques to help Africa Re maintain a robust balance sheet.
- The job holder coordinates, prepares and performs actuarial analyses, evaluates loss and expense reserves and provides consultation on actuarial models and risk issues.
- S/he is also expected to document their work in accordance with actuarial standards and communicate their results accordingly.
- The activities could include, but are not limited to, work on reserve ranges and variability, adding more visualization to reporting, increasing automation, building deeper connections with other departments and actuarial functions, and timely reporting to the business
- The main duties of the job holder shall comprise, amongst others, the following:
- Apply mathematical and statistical techniques to extract, analyze, summarize and transform data sets into usable information that informs organizational leadership decisions and policies.
- Support the reserving process through the analysis of loss and loss adjustment reserves.
- Monitor reserve adequacy.
- Assist with financial reporting including support for annual statement, internal and external statutory financial reports.
- Communicate information and results to a variety of technical and non-technical audiences across the organization including preparation of actuarial memorandums, and standard as well as special reports to support reserving recommendations.
- Make informed actuarial recommendations based on professional judgment and experience.
- Support ad hoc quantitative analyses that facilitate effective decision-making including detailed portfolio reviews and analyses.
- Respond to queries, clarifications and questions from auditors, Management and other stakeholders.
- Support improvement efforts in order to increase consistency, efficiency, and compliance with internal and external standards.
- Collaborate with other internal functions, including Underwriting, Actuarial Pricing, Claims, Reinsurance Accounting and Finance functions to understand trends for consideration in reserving estimates.
- Estimate and analyse patterns and other input parameters for IFRS and solvency calculations.
- Perform any other duty that may be assigned by Supervisors or Group Management.
- Strong working knowledge Microsoft Office including Excel, Power Point, Word
- Strong verbal and written communication skills
- Knowledge of commercial insurance products and general insurance/business knowledge
- Able to manage and coordinate own projects using multiple resources
- Strong analytical and problem-solving skills
- Ability to apply judgment and problem-solving skills to address issues
- Ability to exercise discretion, and apply independent judgment and well-developed critical thinking skills in execution of assignments and projects
- Good business judgement and ability to solve complex issues with pragmatic solutions
- Programming and other analytical experience required Examples: Python, VBA, C#, SAS, R, Python, SQL, Power BI will be an added advantage
- Understanding and experience of IFRS and IAS standards would be an added advantage
- Proficient understanding of IFRS principles and reserving methods for P&C reinsurance business
- Experience using actuarial reserving and statistical software
- First degree in Mathematics, Actuarial Science, Statistics or other related numerate fields with a minimum of 7 years actuarial experience in a non-life insurance or reinsurance company, or actuarial consulting firm OR at least 4 years of experience in reserving.
- Associate or substantial progression to achieving Associateship / Fellowship of an internationally recognized actuarial examining body.
- Experience working in an international insurance or reinsurance company AND experience in re/insurance treaty pricing, portfolio profitability analysis and costing model and tool development will be an added advantage.
- Competitive Basic Salary
- Variable pay Annual Performance Bonus
- Joint contribution to the Provident Fund 7% of the basic salary paid by staff and 14% by the employer
- Housing Allowance
- Medical cover for staff and family
- Home leave to country of origin every year paid by the employer, if non-national
- Children education subsidy for each child up to 26 years maximum 4 children
- Duty Post Differential Cost of Living Allowance, that may increase or decrease depending on the economic situation and result of surveys
- Strong communication skills for conveying complex actuarial concepts to diverse audiences.
- Proficient in applying mathematical and statistical techniques to transform data into actionable insights.
- Effective problem-solving ability to address issues in the reserving process.
- Independent project management skills to coordinate and execute tasks efficiently.
- Analytical mindset for accurate assessment of data patterns and parameters.
- Sound judgment and critical thinking for solving complex issues pragmatically.
- Proficiency in programming languages and analytical tools for enhanced efficiency.
- Understanding of IFRS principles and reserving methods for P&C re/insurance business.
- Proficient in English communication; French proficiency is an added advantage.
-
Hotel Supervisor
4 days ago
HRPS Lagos, NigeriaJob Overview: · • As a Hotel Supervisor, you will be responsible for overseeing the day-to-day operations of the hotel to ensure exceptional guest experiences and smooth functioning of all departments. Your duties and responsibilities may include: · Guest Services Management: · • ...
-
Actuary Personnel
2 weeks ago
Phillips Outsourcing Services Nigeria Limited Lagos, Nigeria Full timeABOUT THE COMPANY · hillips Outsourcing Services Nigeria Limited has been in existence for over 13 years. We have a vast experience in the outsourcing business as we currently manage resources for major clients in all sectors of the Nigerian economy. In addition, our prolific man ...
-
Financial Controller
1 week ago
Novella Africa Lagos, Nigeria Full timeResponsibilities · General Accounting · Provide finance leadership and oversee financial and accounting processes to ensure compliance with Corporate and local policies, statutory requirements, and IFRS. Maintain ethical standards with unyielding integrity. · Lead the smooth impl ...
-
Executive Assistant
1 week ago
Global Profilers Lagos, Nigeria Full timeResponsibilities · Manage the MD's calendar, including scheduling and coordinating meetings, appointments, conference calls, & travel arrangements. · Serve as the primary point of contact for the MD, screening and prioritizing incoming calls, emails, & correspondence. · Draft and ...
-
Financial Manager
1 week ago
Rand Merchant Bank Lagos, Nigeria Full timeABOUT THE COMPANY · Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, is a leading African corporate and investment bank and part of one of the largest financial services groups in Africa. We offer our clients innovative, value-added advisory, funding, trading, corp ...
-
Geoscientist
6 days ago
Aspen Energy Lagos, Nigeria Full timeResponsibilities: · Provide Seismic Interpretation, characterization, and mapping of faults at reservoir levels. · Generating and utilizing seismic attributes for better characterization of fractures, faults, and other structural, stratigraphic, and sedimentary features. · Interp ...
-
Travels Supervisor
5 days ago
Sahara Group Limited Lagos, Nigeria Full timeABOUT THE COMPANY · Sahara Group is a leading international energy and infrastructure conglomerate founded in 1996 and headquartered Lagos. Sahara Group has business operations across the energy and infrastructure value chain including the upstream, midstream, downstream, power, ...
-
Request for Quotation
2 days ago
John Snow, Inc Lagos, Nigeria Full timeABOUT THE COMPANY · John Snow, Inc., and our nonprofit JSI Research & Training Institute, Inc., are public health management consulting and research organizations dedicated to improving the health of individuals and communities in the US and around the Globe. · JOB SUMMARY · Requ ...
-
FHI 360 Lagos, Nigeria Full timeAs the Director of Monitoring, Evaluation, and Learning MEL for the USAID Nigeria HIS and Digitization Project, you will be responsible for designing and implementing a comprehensive MEL framework to measure project outcomes, track progress, and facilitate continuous learning and ...
-
Reservation and Ticketing Executive
9 hours ago
HRLeverage Ikeja, NigeriaJob Summary: · The Reservation and Ticketing Executive is responsible for providing professional, customer-focused travel services · by handling reservations and ticketing for various airlines. This role requires an individual with a solid understanding · of the travel industry, ...
-
Reservation and Ticketing Executive
13 hours ago
HRLeverage Africa Ikeja, Nigeria Full timeJob Description · The Reservation and Ticketing Executive is responsible for providing professional, customer-focused travel services by handling reservations and ticketing for various airlines. · This role requires an individual with a solid understanding of the travel industry, ...
-
Customer care/Telesales Officer
1 day ago
MGE Realty Ikeja, NigeriaGreet and welcome visitors in a professional and friendly manner, directing them appropriately and providing necessary information. · *Handle incoming calls, emails, and inquiries promptly and courteously, addressing customer concerns and providing accurate information about prod ...
Actuary – Reserving and Reporting - Lagos, Nigeria - Africa RE
Description
RESPONSIBILITIES
DUTIES / JOB DETAILS
MAIN COMPETENCIES REQUIRED FOR THIS ROLE
MINIMUM QUALIFICATIONS AND EXPERIENCE:
Applicants shall be holders of a;
SALARY AND BENEFITS
The successful candidate shall have the following benefits:
ADDITIONAL REQUIREMENTS FOR CANDIDATES FOR THIS POSITION
Applicants must also have: