Actuarial Officer Iii At Insurance Regulatory Authority (Ira)

Job Summary
Responsible for the implementation of actuarial policies and procedures as well as monitoring andevaluating their effectiveness in achieving the Authority’s goals and objectives
REQUIRED QUALIFICATIONS
Education and knowledge
Bachelors degree in Actuarial Science, Mathematics or Statistics or equivalent from a recognized University;
Pursuing professional Actuarial qualification;
Member of the Institute of Actuaries (London) or Faculty of Actuaries (Scotland) or similar professional body; and
Proficiency in ICT

Experience
At least 1-year relevant experience;
Experience in preparation of analytical and numerical reports; and
Experience analyzing financial and statistical reports.

Skills
Strong communication and reporting skills;
Strong organization and interpersonal skills; and
Good analytical, investigative, auditing and inspection skills

Competences
Professionalism;
Ethical and integrity;
Strategic thinking; and
Ability to work under pressure, prioritize and multi-task

Responsibilities
Actuarial Analysis
Analyse applications for new products
Analyse actuarial valuation and financial condition reports for life and general business insurance
Identify actuarial parameters suitable for the insurance industry
Analyse premium rates for general insurance companies
Analyse technical reserves for insurers
Develop and update the IRA Electronic Regulatory System (ERS) new releases and templates

Policy development and
Compliance
Participate in the formulation and development of actuarial policies and procedures
Participate in on-site inspections of insurance companies
Carry out actuarial investigation and analysis of the insurers and advise the management and the Board
Develop and update Risk-Based Supervision (RBS) Models,
Capital models and other Actuarial Models