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Senior Risk & Actuarial Officer job at Insurance Regulatory Authority of Uganda (IRA) | Apply Now
Kampala, Uganda
Full Time
Are you looking for Finance jobs in Uganda 2025 today? then you might be interested in Senior Risk & Actuarial Officer job at Insurance Regulatory Authority of Uganda (IRA)
About the Organisation
Established in 1997, the Insurance Regulatory Authority of Uganda (IRA) operates under the Ministry of Finance, Planning, and Economic Development, with the mission to create an enabling regulatory environment for a sustainable, inclusive, and reliable insurance industry. IRA has earned recognition as a model regulator of a secure and developed insurance sector, overseeing licensing, supervision, and regulation to ensure effective administration and control of insurance business in Uganda.
The Authority fosters a work culture rooted in professionalism, integrity, accountability, and innovation, offering employees opportunities to contribute to the growth and stability of Uganda's insurance industry. Operating from its headquarters in Nakasero, Kampala, IRA's reach extends nationwide, impacting both urban and rural communities through its regulatory functions. Its innovative business model emphasizes consumer protection, market development, and industry supervision, aiming to enhance public trust and participation in insurance services.
Guided by core values of professionalism, integrity, accountability, and innovation, IRA also engages in corporate social responsibility initiatives focused on consumer education and financial literacy to promote informed decision-making among the public. For more information, visit their website at www.ira.go.ug.
Job Title
Senior Risk & Actuarial Officer job at Insurance Regulatory Authority of Uganda (IRA)
Insurance Regulatory Authority of Uganda (IRA)
Job Description
Job Opportunity: Senior Risk & Actuarial Officer
Organization: Insurance Regulatory Authority of Uganda (IRA)
Directorate: Supervision
Position Level: IRA 4Duty Station: Head Office
Reports To: Manager – Risk and Actuarial
Supervises: Risk and Actuarial Officer
Number of Positions: One (1)
Position Summary:
The Insurance Regulatory Authority of Uganda is seeking a qualified Senior Risk & Actuarial Officer to provide strategic guidance on risk and actuarial matters, and to ensure that industry players comply with the provisions of the Insurance Act, 2017 (as amended). This role is central to strengthening actuarial oversight and risk-based supervision within the insurance sector.
Key Working Relationships:
Internal: Directors, Managers, and Staff within the Supervision Directorate
External: Insurance companies, government agencies, NGOs, other stakeholders, and the general public
Duties, Roles and Responsibilities
Contribute to the development and continuous improvement of tools supporting Risk-Based Supervision (RBS).
Support the creation, validation, and periodic update of actuarial models.
Monitor and assess compliance by insurance companies in key areas such as capital adequacy, solvency, investment, and other regulatory requirements.
Review and evaluate actuarial valuation reports, risk management reports, and company financial and actuarial models.
Analyze product submissions including premium rates, commission structures, and technical reserves for adequacy and compliance.
Assist in developing and reviewing technical guidance on actuarial and risk management practices for industry use.
Monitor adherence to actuarial standards and participate in industry compliance reviews.
Engage in scenario analysis and stress testing to evaluate industry resilience.
Conduct actuarial research, industry surveys, and data analysis.
Maintain and update the risk dashboard with relevant indicators and insights.
SERVICES
COMMERCIAL
SERVICES
INDUSTRIAL
SERVICES
RESIDENTIAL
Qualifications, Education and Competencies
Person Specifications:
Qualifications:
Bachelor’s degree (Honours) in Actuarial Science or a related field
A professional actuarial qualification is an added advantage
Solid understanding of the insurance industry is essential
Experience:
Minimum of 5 years’ experience in the insurance sector
At least 3 years’ experience in an actuarial role is highly desirable
Core Competencies and Business Behaviors:
Strong analytical and problem-solving skills
In-depth understanding of risk management principles
Excellent communication and interpersonal abilities
Experience in reinsurance audits
Proficiency in actuarial pricing, valuation, and modeling techniques
How to Apply
Interested candidates meeting the above criteria should submit their application letters, updated CVs, and contact details of three referees by 5:00 PM on 6th June 2025 to:
The Chief Executive Officer
Insurance Regulatory Authority of Uganda
Plot 6, Lumumba Avenue,
Insurance Tower
Email your application to: vacancies@ira.go.ug
NB: Only shortlisted Candidates will e contacted
