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Job Vacancy: Actuarial Officer at WAICA Reinsurance Corporation Plc

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Actuarial Officer at WAICA Reinsurance Corporation Plc

WAICA Reinsurance Corporation Plc is one of the fastest growing reinsurance companies in Africa. WAICA Re is headquartered in Freetown (Sierra Leone) and operates through four (4) Regional Offices across Africa namely Lagos (Nigeria), Accra (Ghana), Abidjan (Côte d’Ivoire) and Tunis (Tunisia). It also has three (4) Subsidiary Companies namely, WAICA Re Zimbabwe Limited in Harare (Zimbabwe), WAICA Re Kenya in Nairobi (Kenya) and investments company namely WAICA Capital, Accra (Ghana) and WAICA Re (United Kingdom).

WAICA Re is rated by A.M. Best with a Financial Strength Rating of B+ and a long-term
Issuer Credit rating of “bbb-” with a stable outlook.

We are recruiting to fill the position below:

Job Title: Actuarial Officer

Location: Nigeria

Job Purpose

  • The Actuarial Officer under the guidance of the Group Head Actuary, is responsible for supporting both the life and non-life Departments through provision of specialist support of the valuation process and provide insights on the Group financial results and performance, while crusuring appropriate controls

Job Duties and Responsibilities

  • Support the implementation of IFRS 17 standard across the Group by developing a thorough understanding of the standard and supporting in the technical modelling and actuarial computations under IFRS 17.
  • Assist in the development of rates, rating plans and pricing strategies using actuarial techniques and competitive analyses
  • Participate in the development of new products by carrying out cashflow projections on the profitability of proposed products
  • Assist in carrying out experience analysis for the various portfolios and develop insights for use by the management
  • Assist in the determination of the claims and premium reserves of the groups and testing of the adequacy of historical reserves.
  • Data analysis and reconciliation of the date used for actuarial analysis between the underwriting and finance systems
  • Assisting in the carrying out stress testing, and in the calculations of the risk-based capital requirements for the Group.
  • Assist in the financial modelling of business scenarios/projects to inform business decision making
  • Assist the Business Units and Risk Department in identifying and quantifying risk (insurance, market credit risks etc.) where appropriate
  • Research on emerging trends competitive conditions and operational changes
  • Provide specialist support of the valuation process and provide insights on the group financial results and performance.
  • Develop and maintain tools to analyse actuarial data and results to enhance management reporting.

Candidate Profile
Qualifications:

  • Degree in Actuarial Science, Statistics or Mathematics

Professional:

  • Studying towards an Actuarial qualification with at least 5 actuarial professional exams passed from the IFOA or SOA.

Experience:

  • 3 years relevant actuarial experience
  • Experience in non-life and life insurance valuations
  • Knowledge of IFRS 17
  • Prophet DCS, VBA, SQLR or any other programing
  • Knowledge would be advantageous

Competencies:

  • Strong technical skills and attention to detail
  • Ability to communicate effectively to diverse technical and non-technical audiences
  • Ability to collaborate effectively
  • Ability to work on a range of deliverables
  • Ad-hoc project Support the delivery of relevant projects objectives.

Application Closing Date
30th January, 2023.

How to Apply
Interested and qualified candidates should send Application Letter and CV to: vacancies@waicare.com using the Job Title as the subject of the email.

 

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