Team Lead, Life & Savings Risk Management at Alfred & Victoria Associates

Job Profile

• To support the implementation and strengthening of the company’s L&S risk management framework and policies
• To support a consistent framework to systematically identify, monitor and manage the most significant L&S risks
• To support daily processes and activities that alert management about new issues and risks evolution.

Key Responsibilities
Develop models that estimates:

• Technical Reserves for products, ensuring that all cashflows are accurately modelled (Gross and Net)
• Cash flow for pricing and profit testing of New and Revamped L&S products o Stress test scenarios in line with company’s assumptions
• Economic Capital Ratio (ECR)
• Computations of New Business Values (NBV), APE and Embedded Values (In-force)

Report:

• Prepare the Flash Reserve Report Executive Summary and the full Flash Reserve Report to be presented to EXCOM and for onward delivery to the AMIH L&S team at Half-Year (HY).
• Effectively monitor the Product Approval Process (PAP), confirming product compliance to companys L&S UW guidelines and PAP Policy
• Annually update the L&S Maturity Model for onward delivery to the regional L&S team
• Provide second opinion on liability cashflows for the Asset Liability Management (ALM) exercise
• Implement, quantify and review of assumption changes and model updates
• Work closely with Actuarial Services and Financial Reporting Units on Reserves
• Perform Insurance risks mapping and indicators’ monitoring
• Analyse, review, and prepare reports of exposures on L&S Risks to Management and Board
• Provide second opinion of the efficiency and completeness of the underwriting and reinsurance programs of the company’s (FAC and treaties)
• Provide second opinion on actuarial liabilities and on the reinsurance structure of the organization, challenge and justify of the choice to AXA Group
• Provide second opinion on Catastrophic risks where applicable
• Develop policies and partner with the of the 1st line of defense to implement better controls
• Provide second opinion on Portfolio Reviews (New Business/Renewals/Referrals)
• Develop policies and partner with the of the 1st line of defense to implement better controls
• Provide second opinion on Portfolio Reviews (New Business/Renewals/Referrals)
• Analyse, classify risks (frequency / potential severity) and measure financial impact of risk on the company
• Perform experience analysis on the L&S portfolio to provide opinion on pricing and reserving assumptions as well as for other actuarial exercises

Academic / Professional Qualification

• Preferred: Bachelor’s in Mathematics, Engineering or any other related numerate discipline
• Preferred: At least 6 actuarial exams passed and willing to go all the way to become FSA/FIA/CERA/CAA

Work Experience:

• Advanced understanding of insurance, risk management and mitigation control, finance Work experience: 6+ years of applicable experience, preferably in financial services (at least 3 out of the 5 years must be in Insurance underwriting, claims, finance or actuarial functions)

Required Skills & Competencies:

• Preferred: Sound knowledge of Product development, pricing, reserving, liability expertise, asset-liability, or financial modeling experience.
• Good knowledge of insurance products offerings (development, dependencies, features etc.) financial markets and instrument valuation.
• Office suite: Excel (VBA), Access, PowerPoint
• Use of programming language, R, will be an added advantage.
• Analytical and research orientation with an ability to focus on large amounts of data.

Salary
Very Attractive.