Actuary – Botswana Life Vacancy

Botswana Life – vacancies

Are you ready to join the Botswana Life family? If yes, this is your chance. Interested candidates who wish to join the company are invited to apply for the following vacancies:
Applicants are invited from suitably qualified employees for the position of Actuary, Office Executive, Public Relations, Communications and Marketing Consultant, Human Resource Consultant all tenable in Gaborone.

ACTUARY

Job Summary
Reporting to the Chief Financial Officer.
The incumbent is responsible for efficiently and effectively planning, directing and managing the end-to-end actuarial activities for the life insurance business within the group in order to provide value added support to the business. Specific responsibilities include actuarial valuations. budgeting and reporting, product development and pricing actuarial systems. actuarial risk management, provide the Board and Executive Management with actuarial guidance and to act as an internal statutory Actuary as required by the regulator.

Key Performance Areas
• Develops actuarial strategies, policies and Practices to improve earnings of the company as well as no develop new business prospects and future manpower capability in relation to Botswana Life
• Ensure that actuarial calculations. documentation and reporting comply with Botswana and international best practice, regulation and standards.
• Oversee Actuarial Valuations and Reporting for Botswana Life
• Oversee Actuarial Budgeting for Botswana Life
• Preparing budget for the actuarial unit.
• Development, pricing and profit testing of new life insurance products.
• Setting profit philosophy for new products
• Monitoring profitability of existing products
• New product documentation including product specifications, policy wording and application
• Configuration of new products on administration and quotation systems
• Development. documentation and maintenance of all actuarial systems and models including:
• Pricing models
• Valuation models
• Configuration of administration systems
• Asset liability matching for all policyholder funds. including the annuity portfolio
• Manages risk exposure and limits on policyholder funds
• Calculation and forecast of required capital
• Development and maintenance of reinsurance strategy
• Up-skilling of the Actuarial team and provide mentorship and guidance toward qualifying as actuaries

Core Competencies
• Analytical Skills
• Project Management
• Problem Solving
• Team Leadership and Management
• Data Analytics
• Business Analysis
• Communication and Presentation Skills

Experience/Knowledge and Skills
• Five (5) years insurance industry experience. preferably in the actuarial valuation and embedded value calculation and product development environments
• At least two (2) years of these should in a senior management capacity with the responsibility for actuarial valuation and budgeting and Product development
• Familiarity with ASSA PGN’s and NBIFIRA Prudential Rules, knowledge of up to date Actuarial practice. international accounting standards, a working knowledge of Prophet, wide industry knowledge of current issues and product development. marketing and investment strategies
• Strategic visioning and execution
• Business or commercial orientation
• Insurance regulation & corporate governance
• Customer orientation
• Stakeholder relationship management
• Effective decision making

Qualification

• Fellow of Actuaries with at least five (5) years Post qualification experience

Remuneration

The company offers an attractive remuneration package with benefits.
Interested applicants should submit their application with a detailed CV by 16 February 2018 to recruitment@blil.co.bw

Human Resources Department
Botswana Life Insurance Limited
P Bag 00296
GABORONE