Head, Actuarial Unit at a Composite Insurance Company

A composite Insurance company with its head office located in Lagos, Nigeria, is recruiting to fill the position below:

Job Title: Head, Actuarial Unit

Location: Lagos
Level: Manager

Responsibilities
The Head of the Actuarial Unit will oversee the effective running of the unit and will be required to evaluate and provide advice on the following:

• Conduct actuarial valuation on a regular basis for the company.
• Assess the company’s actuarial and financial risks.
• Evaluate the company’s investment policies and the valuation of assets.
• Determine the company’s solvency position, including a calculation of the minimum capital required for regulatory purposes and liability and loss position.
• Analyze the company’s prospective solvency position.
• Implement risk assessments and management policies and controls relevant to actualize matters or the financial condition of the company.
• Evaluate underwriting policies.
• Review reinsurance arrangements.
• Assist in product development and design, including the terms and conditions of insurance contracts.
• Perform scenario and sensitivity testing.
• Ensure the adequate use of data used in the calculation of technical provisions.
• Work on risk modeling and use of internal models, where applicable.
• Play a pivotal role in the implementation of IFRS 17.
• Fulfill any other requirement as may become necessary.

Requirements

• Educational Qualifications: Minimum academic qualification of B.Sc in Actuarial Science or other related courses.
• Professional Qualifications: Evidence of completion of requisite professional qualification and/or evidence of progress in pursuit of the relevant professional qualification.
• Years of Cognate Experience: Minimum of five years in the Actuarial Department of a composite insurance company/actuarial firms.
• Age: Not older than 45 years of age.

Application Closing Date
15th November, 2023.