Actuarial Manager

Job description

Job Title: Actuarial Manager
Location: Lusaka, Zambia
Reports To: Chief Operating Officer (COO)

Position Overview

We are seeking a skilled and commercially minded Actuarial Manager to oversee core actuarial functions, including pricing, reserving, data analytics, and risk modelling for a dynamic and growing reinsurance business. This role is integral to ensuring actuarial accuracy, improving technical profitability, and supporting the development of innovative reinsurance solutions such as Parametric and ILS structures.

The ideal candidate will combine strong technical expertise with practical, business-focused actuarial judgment. You will work closely with underwriting, claims, risk, and finance teams, and provide hands-on leadership to a small but capable actuarial team.

Key Responsibilities

1. Pricing & Portfolio Analytics

Develop, review, and maintain actuarial pricing models across facultative and treaty business.
Collaborate with underwriting to assess risk and improve technical pricing.
Monitor performance by market, line of business, and broker to support portfolio management.

2. Claims Reserving & Trend Analysis

Oversee regular reserving exercises and ensure sound actuarial methodology is applied.
Conduct trend analysis to inform underwriting strategy and loss mitigation.
Liaise with claims to review large loss development and reserve adequacy.

3. Modelling & Technical Support

Support the design and implementation of models for reinsurance structures, including Parametric covers and ILS.
Contribute to the actuarial inputs for capital modelling, risk margin assessment, and reinsurance program optimisation.
Ensure data integrity and develop tools to support actuarial analysis and reporting.

4. IFRS 17 & Regulatory Compliance

Assist with actuarial components of IFRS 17 reporting, including CSM, risk adjustment, and discounting.
Ensure actuarial practices comply with regulatory standards and internal audit requirements.

5. Team Management & Development

Lead and mentor a team of junior actuaries and graduates.
Set clear objectives and ensure ongoing development and training.
Review team output and maintain quality control of actuarial deliverables.

6. Cross-Functional Collaboration

Provide actuarial input to cross-departmental projects and business planning cycles.
Translate technical findings into actionable business insights for senior management.
Support product development, portfolio optimisation, and market entry evaluations.

Qualifications & Experience

Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field.
Progress towards or completion of a recognised actuarial qualification (e.g., FIA, FSA, ASA).
At least 6–10 years of relevant actuarial experience, preferably in (re)insurance.
Demonstrated experience in pricing, reserving, and portfolio analytics.
Working knowledge of IFRS 17 is essential.
Strong proficiency in actuarial tools (e.g., R, Python, SQL, Excel, ResQ or similar).
Excellent analytical, communication, and project management skills.

Proven ability to lead and develop junior actuaries.

Why Join Us?

Play a key role in shaping the actuarial function within a pan-African reinsurer.
Gain exposure to diverse markets and non-traditional reinsurance structures.
Work in a fast-paced, collaborative environment with regional and international stakeholders.
Competitive salary and benefits.