Job Title: Senior Risk & Actuarial Officer
Organisation: Insurance Regulatory Authority of Uganda (IRA)
Duty Station: Kampala, Uganda
About US:
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: Provide guidance to the Authority on key risk and actuarial aspects and monitor industry players’ compliance with the provisions of the Insurance Act 2017 (as amended).
Key Duties and Responsibilities:
- Participate in developing and eventually updating tools to aid the adoption and implementation of Risk-Based Supervision.
- Participate in the development, validation and update of actuarial models.
- Participate in monitoring insurance companies’ compliance with the provisions of the Act in aspects such as capital adequacy/solvency, investment, etc.
- Review Actuarial valuation reports, risk management reports and company models.
- Reviewing of products, premium and commission rates and adequacy of technical provisions.
- Participate in the development and review of technical guidance for the industry on risk management and actuarial aspects and monitor industry compliance with actuarial standards of practice.
- Participate in scenario and stress testing.
- Participate in actuarial research/surveys and analysis of industry data.
- Update the risk dashboard.
Qualifications, Skills and Experience:
- A Bachelor’s (Honours) Degree in Actuarial Science or related field or its equivalent.
- Professional qualification in actuarial is an added advantage.
- Knowledge of the insurance business is a must.
Experience
- At least 5 years of working experience in insurance
- 3 years’ experience in an actuarial role is an added advantage
Business Behavior
- Analytical skills
- Risk Management
- Communication skills
- Interpersonal skills
- Reinsurance audit skills
- Practical actuarial valuation and pricing skills.
How to Apply:
Interested candidates with the above requirements should submit their applications 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 through email to: [email protected]
Deadline: 6th June 2025
NB: Only shortlisted candidates will be contacted
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