Group Actuary Job CIC Insurance

Insurance Jobs, CIC Insurance Jobs.

Primary Responsibilities:

Strategic Leadership & Group Governance (20% of time)

• Provide actuarial insights and leadership in strategic planning and budget development across all Group entities
• Lead actuarial valuations and sign-offs for all subsidiaries across Life, General and Micro Insurance operations
• Prepare and present comprehensive actuarial reports, analyses, and recommendations to Boards of Directors for all entities in the Group
• Maintain strategic relationships with regulatory bodies across multiple jurisdictions and industry players
• Drive cross-functional collaboration between actuarial teams, underwriting, product development, finance, and other departments across the Group
• Oversee adherence to all statutory and regulatory requirements, including IFRS 17, risk-based capital frameworks, and other reporting standards
• Support the preparation of Financial Condition Reports across the Group in conjunction with appointed/external actuaries.

Risk Management & Capital Optimization (15% of time)

• Lead implementation of robust risk management frameworks, including stress testing and scenario analysis to identify potential risks and recommend mitigation strategies across all entities
• Monitor capital management and solvency positions for the entire Group and develop risk-based capital models recommendations for all subsidiaries
• Manage Asset Liability Matching and provide investment performance recommendations

Product Development & Pricing Strategy (20% of time)

• Lead the pricing and design of innovative insurance products across Life, General and Micro Insurance to meet market demands and improve profitability
• Advise on appropriate ratings for existing products based on relevant market information and experience analysis
• Spearhead product rationalization and innovation across the Group, leading rollout of new products and revamping existing offerings
• Oversee experience analysis (claims, mortality, persistency, expenses, etc.) across all entities and provide strategic recommendations
• Collaborate with industry players to ensure adequate rates loss making lines of business

IFRS 17 Implementation & Advanced Reporting (15% of time)

• IFRS 17 implementation across all Group entities, developing specific policies and methodologies for implementation
• Oversee the generation of financial results under IFRS 17 standards across Life, General and Micro Insurance operations
• Lead the systemization initiatives for IFRS 17 reporting across multiple subsidiaries and jurisdictions
• Ensure consistency in IFRS 17 application and reporting standards across all Group entities

Reinsurance & Industry Analysis (10% of time)

• Provide recommendations on the suitability of reinsurance arrangements to all subsidiaries across Life, General and Micro Insurance
• Consolidate reinsurance treaty negotiations and operations at Group level to ensure synergies and increased cost efficiency
• Serve as thought leader in establishing market trends by presenting industry reports for all entities in the Group
• Negotiate with stakeholders to optimize reinsurance arrangements and build strategic partnerships

New Business Development & Strategy (10% of time)

• Lead the strategic development and launch of new business lines from concept through to market entry.
• Conduct detailed business case analyses, market feasibility assessments, and ensure alignment with regulatory frameworks for new ventures.
• Design innovative and market-relevant insurance products tailored to the needs of target customer segments.
• Establish appropriate pricing methodologies and actuarial frameworks suited to the unique characteristics of each new business line.
• Manage regulatory approval processes for new licenses and product filings across relevant jurisdictions.
• Develop and implement go-to-market strategies, including distribution channel design and strategic partnerships.
• Create fit-for-purpose risk management frameworks that support simplified processes, scalable operations, and effective fraud detection.
• Define operational and technological infrastructure needs, including data management, systems integration, and reporting capabilities.

People Leadership (10% of time)

• Lead performance management, coaching, and mentoring of actuarial staff across all Group entities
• Handle resource allocation, staffing decisions, and leave approval for the actuarial function Group-wide
• Plan and manage budgets for the actuarial department across all subsidiaries
• Develop and maintain actuarial talent pipeline through strategic hiring, training, and succession planning.
• Oversee the management of actuarial software solutions across all subsidiaries.

Key Skills, Knowledge, Experience and Behavioural Competencies

Academic and Professional Requirements:

• Bachelor of Business Science in Actuarial Science
• Masters in Econometrics

 Professional Qualification          

• Fellow of the Institute and Faculty of Actuaries (FIA); Chartered Actuary Fellow.
• Continuous Professional Development
• GRI Certified Sustainability Professional

Relevant experience      

• Minimum of 10 years’ relevant experience, with at least 7 years at leadership level.
• Proven experience in strategic management and commercial decision-making across multiple business lines, jurisdictions, and emerging markets.
• Deep expertise in financial reporting standards (IFRS 17, IFRS 9, IFRS 4, IAS 19) with application to emerging business lines.

Skills and Competencies:

• New business development expertise including market entry strategies, regulatory navigation, and startup operations.
• Advanced actuarial modelling expertise (Prophet, R, Python, C++, VBA, SQL) with adaptation capabilities for micro insurance.
• Comprehensive knowledge of Life, General, and Micro Insurance actuarial principles and practices.
• Regulatory engagement and compliance management across multiple jurisdictions including micro insurance licensing.
• Capital management and solvency optimization across diverse portfolios and new business ventures.
• Reinsurance strategy development and treaty negotiation capabilities including specialized micro insurance covers.
• Product development and pricing expertise across traditional and micro insurance markets.
• Risk management framework design and implementation across diverse customer segments.
• Asset Liability Management and investment strategy development.
• Market research and feasibility analysis for underserved customer segments.
• Leadership and people management across geographically distributed and cross-functional teams.
• ESG (Environmental, Social, Governance) strategy and sustainability reporting, including financial inclusion initiatives.

How to Apply

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