ALLIANCE LIFE ASSURANCE LIMITED Career Opportunity
| Job title: Actuarial Analyst | Department: Actuarial |
| Location: Dar es Salaam | Reports to: Actuarial Officer |
Position: Actuarial Analyst jobs at Alliance Life Assurance Ltd
Alliance Life Assurance Ltd, established in 2010 as Tanzania’s pioneer privately owned Life Insurance Company, has expanded its influence across the region to emerge as a leading insurance and financial services provider. Renowned for its excellence in leadership, innovation, customer service, and risk management, Alliance Life is now inviting applications for the position of Actuarial Analyst to join its team. The company values diversity and encourages applications from candidates of all backgrounds.
Key Responsibilities:
- Data Analysis: Collect, organize, and analyze extensive datasets to identify trends and patterns relevant to insurance and financial risk management.
- Monthly Calculations: Execute monthly calculations of technical reserves using appropriate actuarial methodologies.
- Pricing and Risk Assessment: Assist in conducting Pricing, Profit, and Sensitivity testing for new or repackaged products. Evaluate risks associated with insurance policies, investments, and other financial products, reviewing and monitoring product experiences to inform decision-making.
- Financial Modelling: Develop and maintain actuarial models to assess the financial impact of various scenarios, including pricing, reserving, and forecasting.
- Report Generation: Validate data inputs and prepare clear, concise reports summarizing findings, along with recommendations for risk mitigation strategies and pricing adjustments.
- Regulatory Compliance: Ensure compliance with industry standards by staying updated on regulatory requirements and effectively communicating findings to stakeholders.
- Collaboration: Work collaboratively with cross-functional teams, including underwriting and finance, in the preparation of valuation data to support business objectives and strategic initiatives.
- Continuous Improvement: Identify opportunities for process and methodology enhancement to improve efficiency and accuracy in actuarial analysis.
- IFRS 17 Reporting: Support with the implementation and ongoing activities related to IFRS 17 reporting and final account statements.
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Qualifications and Experience Required:
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field.
- Over 3 years’ experience in Insurance Operations with at least 1 year of Actuarial experience in Life Insurance.
- Minimum of 2 completed Professional Actuarial examinations; the candidate should have a clear roadmap with timelines to achieve Actuarial Qualifications.
- Strong analytical skills with the ability to interpret complex data and communicate findings effectively to both technical and non-technical audiences with a high degree of accuracy.
- Solid understanding of Insurance principles and practices in Tanzania, actuarial principles, insurance products, and financial concepts.
- Excellent problem-solving skills and attention to detail, with the ability to work independently and meet deadlines in a fast-paced environment.
- Strong interpersonal skills with the ability to collaborate effectively in a team-oriented setting.
Application Process:
If you meet the qualifications and are interested in this position, please submit your resume to shamim@alliancelife.co.tz. The deadline for applications is 11th March 2024. Only shortlisted candidates will be contacted. Alliance Life Assurance Ltd promotes an equal opportunity workplace and encourages diversity. For inquiries about the physical demands of this position, please contact Human Resources.
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