ARM Life formerly CrystaLife Assurance Plc. is the insurance subsidiary of Asset & Resource Management Company Ltd (ARM).
Its parent company, ARM is one of the largest non-bank financial services firms in Nigeria with a focus on asset management. Established in 1994, ARM started operations as a traditional asset
management company specialising in the management of quoted equities and fixed income securities.
However, over the years, the Firm has taken advantage of opportunities in various sectors of the Nigerian economy and has proven its ability to identify and develop new strategic businesses and integrate these to strengthen its asset management business model. This ability has resulted in the evolution of the Firm into a diversified financial services institution with businesses divided into two distinct parts within which various products and bespoke asset management services are offered to our diverse clients, focusing on Traditional Asset Management and Specialised Funds. ARM currently manages total assets of over N500bn.
Job Title: Technical (Actuarial) Officer
Asset & Resource Management Company (ARM) – Lagos
Job Summary
(1) New Product Development & Product Review (2) Products Pricing & Review of pricing mechanism (3) Product Paper Preparation (4) Preparation of Quotations & Proposals (5) Supervision of Data Reconciliation, Validation & Analysis for Valuation (6) Preparation/Review of Technical Process/Operational Manual.
Principal Duties and Responsibilities
Product Pricing and periodic review of the pricing mechanism
Support delivery of data to meet valuation deadlines and other investigations, including:
All policy & asset data used for actuarial valuations
All policy and movements data, as required for management information (MI)
Mortality, morbidity, persistency and longevity investigation information
Ensure all key accounts and other complex claims are promptly settled.
Assist in the yearly/half-yearly calculation of economic and regulatory capital requirement of the company
Performing experience analysis covering mortality, withdrawals, sickness, disability, and retirement rates.
Assist in reinsurance review and optimization
Support the group life pricing process
Supervision of Quarterly and full year Actuarial Data Reconciliation, Validation and Analysis
Working with the Company’s Consulting Actuaries on Actuarial Valuation and Reinsurers on Reinsurance Matters Ensure services are delivered to key clients based on Service Level Agreement
Develop and maintain an appropriate level of job skills. These will include actuarial techniques and computer skills, which will enhance the skill base of the team.
Establish skills to ensure appropriate and effective communication with internal departments and external contacts.
Identify, recommend and implement initiatives to improve efficiency and effectiveness including procedural, systems and training aspects.
Ensure that proper documentation is created. Assist in the maintenance of a comprehensive procedures manual and key controls manual, ensuring procedures, systems and controls are correctly documented.
Provide input to key strategic issues through provision of management information relevant to key objectives
Weekly verification of all key transactions to ensure that PRN & CAN are issued for all payment made by the client.
Any other job as may be assigned
Desired Skills and Experience
The successful candidate will be studying for the Actuarial Professional qualification (should have completed minimum of 5 CTs).
Bsc degree in a numerate field
Good technical ability
Microsoft Office products
Good documentation skills
Knowledge of data management
An ability to analyse complex problems and results and recommend policy
Experience & knowledge of Nigerian Life industry
How to Apply
Click here to Apply Online
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