Actuarial Officer

One of the top Insurance firms in Nigeria, is looking to recruit suitably qualified candidates to fill the position below:

Job Position: Actuarial Officer

Job Location: Lagos
Reports to: Head, Actuarial Unit

Job Objectives

• To support the delivery of a broad range of actuarial, financial and risk analysis services to the organisation, proffering rates, solutions and actuarial assumptions.      

Primary Interfaces

• Internal: All Sales Business Units, All Underwriting teams, Finance team, Treasury & ERM      
• External: Actuary Consultants, NIACOM, Brokers, Agents, Clients     

Job Summary

• To support critical actuarial job functions. Role holder shall also support the management of internal reporting and actuarial valuation of life and GI businesses; manage relationship with appointed Actuarial consultants for valuations; product pricing.

 Responsibilities

• Assist with the determination of equitable basis for distributing surplus earnings under participating insurance and annuity contracts.
• Work with operations team in the development of an underwriting quality program that addresses both the technical and subjective aspects of underwriting.
• Support the development of product enhancements based on industry trends and performance of book while ensuring long term sustainability.
• Support the management of annuity Portfolio Group wide.
• Participate in the Reinsurance Program Review.
• Assist with analysis of statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
• Assist with establishing internal reporting and valuation of policyholder liabilities; and asset liability matching guidelines and processes; and provide timely inputs to the Head of Actuary.
• Support with determining premium rates required, cash reserves and liabilities necessary to ensure payment of future benefits.
• Assist with the construction of probability tables for various events, based on analysis of statistical data and other pertinent information.
• Administer insurance, annuity plans and determining financial soundness and calculation of premiums.
• Other duties assigned by the line manager.

Person Specification
Education:

• Good Bachelor's Degree, in Actuarial Sciences.
• Professional qualification in Actuarial Sciences.

Experience:

• A minimum of 4 years in Actuarial unit or capacity.
• Experience in any top Actuarial consulting firm would be added advantage.

Skills/ Competence Requirements:

• Skilled in actuarial valuation, performance analysis and reporting
• Understanding of underwriting policies, guidelines practices and procedures, and has the ability to influence and champion changes to improve processes while maintaining mortality expectations.
• Demonstrates good understanding of sales objectives and concepts of varying levels of complexity.
• Understands documents such as policies, proposals, claims and financial reports
• Must be at least an Associate of Actuarial Society.
• Skilled in process analysis and improvement; Strong project management and reporting experience.
• Strong organizational skills with a high level of accuracy and timeliness.
• Excellent interpersonal skills including strong verbal and written communication skills and ease in interacting with all customers (internal and external).
• Ability to multi-task in a fast-paced environment while meeting critical deadlines.
• Technical underwriting expertise to handle and review large and complex cases in a high volume environment.

Apply Here
Interested and qualified candidates should send their applications to email, stating the role applied for as the subject of the email.