About Company
Leadway Assurance is a leading composite insurance company in Nigeria, with a rich history of over five decades. Established in 1970, we have grown to become a cornerstone of the Nigerian financial services sector, dedicated to providing comprehensive and innovative insurance solutions across life, non-life, and investment products. Our mission is to protect the dreams and aspirations of individuals and businesses, contributing to the financial security and stability of our communities. We pride ourselves on a culture of integrity, excellence, and customer-centricity, fostered by a team of highly skilled and dedicated professionals. With a vast network of branches and touchpoints across the nation, including a strong presence in Port Harcourt, we are committed to making a tangible difference in the lives of our policyholders. Joining Leadway Assurance means becoming part of an organization that values talent, encourages continuous learning, and offers immense opportunities for career growth within a dynamic and supportive environment.
Job Description
We are seeking a highly analytical and detail-oriented Actuarial Analyst to join our esteemed team in Eliozu, Port Harcourt. This pivotal role involves applying mathematical and statistical methods to assess financial risks in the insurance and financial services industry. As an Actuarial Analyst, you will be instrumental in the development, pricing, and reserving of our diverse insurance products, ensuring their profitability and compliance with regulatory standards. You will work closely with various departments, including product development, underwriting, claims, and finance, to provide robust actuarial insights that drive strategic business decisions.
Your primary focus will include performing complex data analysis, building and maintaining actuarial models, and generating comprehensive reports that interpret financial data, trends, and risk exposures. This position offers a unique opportunity to contribute significantly to our financial stability and competitive advantage, while deepening your expertise in a rapidly evolving market. The successful candidate will possess a strong foundation in actuarial science, exceptional problem-solving abilities, and a keen interest in applying advanced analytical techniques to real-world business challenges. This role is ideal for an individual looking to build a long-term career in a reputable organization that prioritizes professional development and impact.
Key Responsibilities
- Conduct thorough data analysis to identify trends, patterns, and risk factors relevant to insurance products and financial liabilities.
- Develop, maintain, and enhance actuarial models for product pricing, reserving, capital management, and risk assessment.
- Prepare detailed actuarial reports and presentations, communicating complex findings clearly to internal stakeholders.
- Assist in the design and development of new insurance products, ensuring their actuarial soundness and profitability.
- Perform experience studies (e.g., mortality, lapse, claims) and provide insights into portfolio performance.
- Support the annual valuation process, including assumption setting and liability calculation.
- Ensure compliance with all relevant actuarial standards, regulatory requirements, and company policies.
- Collaborate with underwriting, claims, finance, and product development teams to provide actuarial support and advice.
- Participate in ad-hoc projects and initiatives aimed at improving efficiency and effectiveness of actuarial processes.
Required Skills
- Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
- Minimum of 2 years of relevant experience in an actuarial role within the insurance or financial services industry.
- Strong proficiency in actuarial software (e.g., Prophet, MoSes) and advanced Excel skills.
- Excellent analytical, problem-solving, and critical thinking abilities.
- Demonstrated experience with statistical programming languages (e.g., R, Python, VBA).
- Solid understanding of actuarial principles, insurance products, and financial risk management concepts.
- Ability to interpret complex data and communicate findings effectively to non-actuarial audiences.
- Strong attention to detail and accuracy.
- Ability to work independently and as part of a team in a fast-paced environment.
Preferred Qualifications
- Progress towards professional actuarial designations (e.g., passing exams from IFoA, SOA, CAS).
- Master's degree in a quantitative discipline.
- Experience with IFRS 17 implementation or reporting.
- Familiarity with Nigerian insurance regulations and market dynamics.
- Experience with data visualization tools (e.g., Power BI, Tableau).
Perks & Benefits
- Competitive salary and performance-based bonuses.
- Comprehensive health insurance and wellness programs.
- Contributory pension scheme.
- Generous paid time off and holidays.
- Opportunities for professional development and support for actuarial exams.
- A collaborative and supportive work environment.
- Access to a wide range of learning and development resources.
- Employee assistance programs.
How to Apply
Interested and qualified candidates are encouraged to apply by clicking on the application link below. Please ensure your CV and cover letter highlight your actuarial experience, technical skills, and how you meet the requirements of this role. Only shortlisted candidates will be contacted for an interview.