Our client is one of the emerging management consulting firms in Nigeria. They offer a comprehensive range of services to corporate, commercial and individual customers both in Nigeria and via their intentional branch network.
Purpose of role
Our client is a leading brand in the Nigerian Insurance Industry and is in search of a high performing executive to join the organization in the capacity of Head, Actuarial Services. The successful candidate for this role shall be expected to manage the entire actuarial function for our client’s Insurance and participate in strategic leadership decision making as well as entrenching a positive attitude and culture across their team.
- Coordinate, prepare and perform actuarial analyses leading to the recommendation of pricing, reserving and ratemaking strategies, working closely with the business leads, claims, underwriting, and risk management segment of the business to ensure consistency, and proper interpretation of trends.
- Lead pricing actuary for company’s business segments, to include gathering, organizing and analysing data, assist the underwriting team in developing the approach each year to achieve the needed rate across the business units, and develop unique rating approaches to key product/market segments
- Lead statistical analysis to identify opportunities to improve the clients we serve through risk management efforts and claim handling practices
- Work closely with IT to integrate data from all systems in order to be most efficient and insightful in identifying trends, pricing & selection strategies and leading causes of loss
- Develop and deliver modelling and exposure management measures.
- Calculate Risk Capital for Enterprise Risk Management, including model development and enhancements. Understand and support capital allocation estimates and processes.
- A first degree, preferably in insurance, actuarial science, mathematics or a related discipline from a reputable institution
- A Qualified Actuary and Certified member of relevant professional bodies (Institute & Faculty of Actuaries, UK or Society of Actuaries, USA), Must have a minimum of 7 years relevant experience and should have functioned for a minimum of three (3) years in an Executive Leadership capacity
- Experience in multiple functional areas (pricing, reserving, capital management, etc.) and in multiple business units is strongly preferred, must be familiar with the actuarial standards of practice and be well versed in ratemaking using traditional and advanced reserving techniques
- Demonstrates ability to exercise sound judgment, an ability to think “outside of the box” , be open to and encourage new ideas and solutions
- Strong communication and presentation skills in order to partner cross-functionally with actuarial and non-actuarial leaders, must be IT and technologically proficient
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