Senior Actuarial Analyst – Products at Sanlam Kenya
Role Purpose
- The
Senior Actuarial Analyst Products will be responsible for the end-to-end
management of insurance products, including pricing, performance analysis,
and reinsurance optimization. This role involves overseeing product
development, pricing strategies, and the evaluation and discontinuation of
underperforming products. The incumbent will also lead initiatives related
to distribution channel strategy and reinsurance structure optimization to
enhance business profitability and competitiveness.
Primary Responsibilities
- End to
end development of new products including business case preparation,
pricing, product specification preparation and securing regulatory
approvals.
- Price
and reprice products such as annuities, individual life, group life, group
credit, and pension products, ensuring they are competi- tive and
profitable.
- Oversee
testing and implementation of new products in the policy administration
system.
- Recommend
enhancements to existing products based on feed- back from clients and the
distribution team.
- Monitor
and analyze the performance of existing and newly launched products.
- Prepare
product-related inputs required for regulatory annual returns.
- Conduct
market research on competitor products together with the distribution team
to identify gaps and opportunities in the current product portfolio.
- Evaluate
cost implications and viability of proposed new distribu- tion channels
and business initiatives.
- Review
and propose improvements to reinsurance arrangements to optimize business
outcomes.
- Review
and approve product documentation, including all custom- er-facing
materials.
- Ensure
product offerings comply with all applicable regulations and laws,
including Treating Customers Fairly (TCF), Anti-Money Laun- dering (AML),
Counter Financing of Terrorism, the Data Protection Act, and other
relevant legal frameworks.
- Document
pricing methodologies to maintain transparency and consistency.
- Manage
and nurture relationships with distribution partners.
Qualifications:
Skills and Competencies
- Strong
analytical, actuarial, and financial modeling skills.
- Expertise
in pricing and profitability analysis of insurance products.
- Excellent
communication skills with the ability to explain technical concepts to
non-technical audiences.
- Proficiency
in actuarial software and tools (e.g., Prophet, Excel). Strong leadership
and teamwork capabilities.
- Solid
understanding of insurance industry laws and regulations.
- Effective
relationship management and stakeholder engagement skills.
Academic
- Bachelor’s
degree in Actuarial Science, Statistics, Mathematics, or a related field.
Professional
- Significant
progress towards actuarial qualification (e.g., FIA or equivalent).
Experience
- Minimum
of 5 years’ experience in the development and pricing of insurance
products, preferably within the life insurance sector.
- Strong
preference will be given to candidates with the requisite qualifications,
skills with proven experience in a similar environment.
How to Apply
If your career aspirations match this exciting opportunity,
please submit your detailed curriculum through email address: hrvacancies@sanlam.co.ke by
close of business on 12 September 2025.
The job title should be clearly indicated as the email reference. Only
shortlisted candidates will be contacted.
Deadline: 12 September, 2025
Email CV to: hrvacancies@sanlam.co.ke