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Actuarial Manager - Life Uganda job at UAP Old Mutual Group | Apply Now
Are you looking for Management jobs in Uganda 2024 today? then you might be interested in Actuarial Manager - Life Uganda job at UAP Old Mutual Group
About the Organisation
UAP Old Mutual Life Assurance is a leading provider of life insurance and investment solutions in East Africa, committed to helping individuals and businesses protect their financial futures. With a strong reputation for trust and reliability, the company has earned widespread recognition for its customer-centric approach and innovative financial products. Known for fostering a collaborative, inclusive, and dynamic work culture, UAP Old Mutual Life Assurance offers its employees a chance to grow professionally while contributing to the organization’s purpose of improving the financial well-being of its customers.
With a rich history dating back to 1947, the company has evolved through key mergers and partnerships, including its acquisition by Old Mutual in 2015, to become a market leader in the region. UAP Old Mutual Life Assurance’s business model focuses on delivering accessible and innovative life insurance products tailored to meet the diverse needs of its clients. The company operates across multiple African countries, reaching a wide customer base and continuing to expand its footprint. Core values such as integrity, innovation, customer focus, and responsibility underpin the company's operations, while its commitment to corporate social responsibility (CSR) is reflected in initiatives supporting community development, financial literacy, and sustainability. For more information, visit www.uapoldmutual.co.ug.
The UAP Old Mutual Group is an integrated Financial Service business comprising Faulu Microfinance Bank, UAP and Old Mutual. The Group, which is operational in East Africa services to more than 1.2 million customers across Kenya, Uganda, Tanzania, Rwanda and South Sudan. The UAP Old Mutual Group now comprises of three key players as a result of the acquisition of a controlling stake in Faulu in 2014 and UAP in 2015 by Old Mutual. The acquisitions resulted in Old Mutual Kenya UAP Holdings and Faulu Microfinance Bank, forming one of the largest financial services groups with a growing footprint in East and Central Africa. UAP and Old Mutual have been major players in the financial services market in East Africa for decades. The two entities have vast experience in Insurance, Investment, Asset Management and Banking, and are passionate about helping our customers achieve their financial goals.
Kampala, Uganda
Full Time
Job Title
Actuarial Manager - Life Uganda job at UAP Old Mutual Group
UAP Old Mutual Group
Job Description
Job Title: Actuarial Manager - Life Uganda
Organisation: UAP Old Mutual Insurance
Duty Station: Kampala, Uganda
Duties, Roles and Responsibilities
Responsibilities:
Ensure provision of Actuarial Services to Old Mutual Assurance Uganda Limited by working closely with Group Functions to meet business needs. This includes reserving, pricing, product reviews, experience reviews and solvency and capital management
Conduct accuracy checks, and analyses data to draw conclusions and make recommendations
Generate actuarial reports on various technical issues to Group Actuary, Senior Management and Board of Directors.
Technical Actuarial Support; Conduct and/or review internal actuarial liability valuations, analysis of profitability/surplus, calculation and analysis of embedded value using Prophet and MS Excel.
Audit support; Review of external actuaries’ report and collaboration with the appointed actuaries to produce the Financial Condition Report.
Product Profitability Review; Perform profitability analysis, experience analysis, and other relevant actuarial investigations to inform business decisions and product development.
Solvency and Capital management; Carry out solvency computation for the entity on a risk-based capital basis including solvency stress tests.
Financial Modelling; assist with financial modelling of business scenarios/projects to inform business decision making.
Strategy and Business Planning Support; assist with business planning financial projections and solvency projections. Perform stress and scenario analysis on the plan numbers.
Reinsurance Support; Carry out a reinsurance analysis to explore ways to optimize on reinsurance arrangements.
Reporting and Documentation; Presentation of results and reports to the board committees. Preparation of Board Papers and regulatory solvency and valuation reports.
Risk Management support; assist the Business and Risk Department in identifying, quantifying risk (insurance, market, credit risks etc.) where appropriate.
Investment Strategy support; Develop/formulate appropriate investment strategies and/or review and monitoring of investment strategies the business.
Other reasonable duties that may be assigned by Executive management and Board.
SERVICES
COMMERCIAL
SERVICES
INDUSTRIAL
SERVICES
RESIDENTIAL
Qualifications, Education and Competencies
Experience:
Familiar with the current Insurance Regulations of Uganda, Capital markets and Central Bank regulations
Exposure to other prudential regulations in other Eastern and Southern Africa markets is an added advantage.
Strong actuarial technical skills
Good understanding on the application of IFRS 17 Insurance Contracts accounting standard
Knowledge of Prophet Software or other reserving software
Strong analytical and reporting skills
Strong data programming skills
Demonstration of strong team management skills
Good stakeholder engagement skills.
Qualifications
Bachelor of Actuarial Science or other related finance or mathematics degree
Minimum 6 years actuarial experience
Actuarial Knowledge: Qualified actuary or nearly qualified with a minimum of 10 papers having been sat and passed.
Skills
Actuarial Services, Audit Support, Business, Business Decisions, Business Needs, Capital Management, Decision Making, Drawing, Embedded Value, Executive Relationship Management, Exploration, Financial Modeling, Investment Strategies, Management Support, People Management, Product Profitability, Profitability, Profitability Analysis, Reinsurance, Risk Management, Scenario Analysis, Solvency, Strategic Support
Competencies
Balances Stakeholders
Builds Networks
Business Insight
Collaborates
Communicates Effectively
Cultivates Innovation
Decision Quality
Drives Results
Education
NQF Level 7 – Degree, Advance Diploma or Postgraduate Certificate or equivalent
How to Apply
All suitably qualified candidates are encouraged to submit your application and complete Curriculum Vitae by applying online through visiting Old Mutual’s e-recruitment jobs portal at the web Apply Button below.
Deadline: 12th December 2024
