Actuarial Officer Insurance Regulatory Authority of Uganda

Actuarial Officer
Directorate / Office
Level
Duty Station
Responsible To
Actuarial Officer
One (1)
Supervision
IRA 5
Head Office
Senior Risk & Actuarial Officer
10

Responsible For None
Working Relationships Internal: Supervision Office
External: Customers/Government entities / External Auditors

Purpose
Provide support for evaluating complex risks and assess the probability and potential financial consequences of risks among licensed insurance players in accordance the Insurance Act,

Duties And Responsibilities
• Participate in activities aimed at implementation of Risk Based Supervision.
• Update actuarial models at the Authority.
• Verify estimates for technical provisions for insurance Companies.
• Monitor insurance companies investments to ensure they are compliant with the standing Investment Guidelines,
• Review Actuarial valuation report$ and liaise with Consultants and Actuaries, on actuarial matters including products, valuations, and critical business statistics required.
• Monitor Insurance companies compliance with the provisions of the Act in aspects such as capital adequacy/ solvency, investment etc.
• Review new/modified insurance products, accompanying premium rates, Commission rates.
• Participate in actuarial surveys/ research.
• Carry out any other duties assigned from time to time.

Key Performance Indicators
• l. Timely submission Of reports,
• 2. Updated actuarial models
• 3. Accurate costing of products. Person Specifications
Qualifications
At least a Bachelor’s (Honours) Degree in Actuarial Science, Mathematics, Statistics, Economics,
Accounting, Computer Science or its equivalent from a reputable higher institution of learning, Competencies and Knowledge
• Practical actuarial valuation and pricing skills
• 2. Personal presentation
• 3. Analytical skills
• 4. Communication skills
• 5. Interpersonal skills