The Insurance Regulatory Authority of Uganda (IRA) was established under section 14 of the Insurance Statute 1996 now The Insurance Act, (Chap213) Laws of Uganda, 2000 (Insurance Act) which came into effect on 4th April 1996 and commenced operations in April 1997. The establishment of the Insurance Regulatory Authority of Uganda was a consequence of Government’s adoption of the liberalization and privatization policies which ended its role of directly engaging in the provision of goods and services and taking on the role of supervisor or regulator.

Job Summary: The Actuarial Officer will provide support for evaluating complex risks and assess the probability and potential financial consequences of risks among licensed insurance players in accordance with the Insurance Act.

Key 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 reports a 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

Timely submission of reports.
Updated actuarial models.
Accurate costing of products.

Qualifications, Skills and Experience:

The applicant must hold a Bachelor’s (Honours) Degree in Actuarial Science, Mathematics, Statistics, Economics, Accounting, Computer Science or its equivalent from a reputable higher institution of learning.
Practical actuarial valuation and pricing skills.
Personal presentation
Analytical skills
Communication skills
Interpersonal skills

How to Apply:

All suitably qualified candidates should submit their applications together with copies of detailed up-to-date CVs and at least three referees to:

The Chief Executive Officer,

Insurance Regulatory Authority of Uganda,

Plot 6 Lumumba Avenue, Insurance Tower,

P.O. Box 22855, Kampala

Or Email to: This vacancy has closed — applications are no longer acceptedApplications closedSee open jobs at Insurance Regulatory Authority of Uganda (IRA) →

NB: Only shortlisted candidates will be contacted.

Deadline: 30th January 2023 by 5:00pm

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