Senior Risk & Actuarial Officer

Insurance Regulatory Authority of Uganda is hiring a Senior Risk & Actuarial Officer to 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).

Number of Positions: One (1)
Directorate/Dept./Office: Supervision
Level: IRA 4
Duty Station: Head Office
Responsible to: Manager Risk and Actuarial
Responsible for: Risk and Actuarial Officer
Working Relationships:
Internal: Directors, managers, and staff in the supervision
External: Insurance Players, Government Agencies, Non-Government Organisations, Other stakeholders, Public

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.
Review 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.
PERSON SPECIFICATIONS
Qualifications
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, not later than 5:00 pm on 6th June 2025 to:
The Chief Executive Officer
Insurance Regulatory Authority of Uganda
Plot 6 Lumumba Avenue, Insurance Tower

or through email to:

vacancies@ira.go.ug