Vacancy - Chief Actuarial Officer
The SICOM Group, a major player in the Insurance and Financial Services sector in Mauritius, is inviting applications from suitably qualified candidates for the post of CHIEF ACTUARIAL OFFICER on a contractual basis for an initial period of three years and renewable upon mutual consent and satisfactory performance.
Port Louis, Mauritius
- Fellow member of any of the member Associations of the International Actuarial Association (IAA) with a minimum of 10 years’ experience out of which should be at least five years post fellowship, preferably within Life Insurance.
- Exposure in General Insurance and Pensions Actuarial areas will be an advantage.
- Experience in developing business solutions and insurance products.
- Relevant experience in Risk Management.
- Ability to build and maintain relationships.
- Highly effective interpersonal and presentation skills.
- Written and spoken proficiency in English
- Other attributes being same, knowledge of French language will be an advantage.
Key Functions and Responsibilities
Reporting to the Chief Executive Officer, you will head the Actuarial Department of the Group while overseeing the Life, General Insurance and Pensions Actuarial areas and the Risk Management function.
You will provide actuarial input including the development of actuarial work in the area of risk management and will also be responsible for benchmarking practices.
You will work alongside the team in a client-facing, Business Development & Client Solutions capacity with portfolio management and product-design responsibility.
You will also advise on and formulate the actuarial strategies of the various lines of business of the Group, including future expansion plans.
You will review existing processes and be responsible to upskill the team within the actuarial areas.
The responsibilities of the post will include the following:
- Ensure that the Group adopts sound actuarial principles, controls and processes in producing actuarial reports and/or calculations which are utilised by the various lines of business within the Group or by external actuaries.
- Provide actuarial support to Life, General Insurance, Pensions, Investments and Risk Management functions.
- Carry out actuarial work such as quarterly reserves for Life Insurance, review the annual technical reserving exercise for General Insurance.
- Formulate pricing of new products and Schemes and review of existing ones in relation to desired performance.
- Review and/or sign-off all actuarial reports produced by the actuarial teams.
- Provide technical and actuarial support in developing risk management techniques and frameworks.
- Provide technical input such as reserve calculations, budgeting, investments (asset-liability matching), re-insurance and risk management to relevant areas of the business.
- Provide actuarial support to the product development area including pricing and profit-testing.
- Provide or co-ordinate technical input and support on any special projects or corporate activities.
- Report or provide input to the Board on any risk aspects pertaining to the Company’s operations and strategies.
- Work closely with any other technical external service providers where needed.
- Engage with the relevant regulatory body/ies and Auditors as required.
- Application with details covering above and other aspects listed below should be emailed.
- Personal details such as marital status, children and other dependent family members.
- Year of Fellowship and name of the Actuarial body; if more than one, please mention all.
- Work experience details including country and places of work.
- Language Proficiency.
- Declaration about disciplinary action/s by the actuarial body, if any.
- Application should be sent by email only at firstname.lastname@example.org
Deadline: Saturday 30 November 2019
All the applications and information contained therein will be treated with utmost confidentiality.