Job Description

Reporting to Manager,Insurance Supervision,the Principal Inspector will be responsible for identifying, assessing, and monitoring risks in the insurance and pension sectors

Job Responsibilities

• Participate in both on-site and off-site inspections to assess insurance institutions, identifying key business risks, risk management practices, and compliance with applicable laws and regulations.

• Conduct actuarial analysis on key trends and developments affecting the insurance and pension sectors, providing forecasts, stress tests, and scenario analyses.

• Support the development and review of actuarial-related supervisory tools such as mortality tables, lapse rates, disability scales, and stress-testing frameworks.

• Identify gaps in existing laws, regulations, and directives, and advocate for changes to ensure alignment with modern financial stability, prudential supervision, and international standards (e.g., ICPs, IOPS).

• Advise on the insurers’ design and pricing of insurance policies, reviewing the adequacy of technical liabilities and actuarial valuation reports.

• Propose changes to the financial sector laws and regulations, ensuring innovations that promote the financial stability of the insurance and pension industries.

• Initiate and support research projects related to financial sector stability and propose initiatives for sound actuarial practices.

• Prepare technical documentation for internal and external stakeholder engagement on new projects, laws, and regulatory frameworks.

Job Requirements

• Minimum of a Master's Degree in Actuarial Science or a related field, with an advanced level of professional actuarial certification from a globally recognized institute (e.g., IFoA)

• A minimum of five (5) years of experience in the insurance or pension sector, or a related field, with demonstrated experience in actuarial practices.

• Familiarity with both life and general insurance actuarial functions would be an added advantage