Retirement Benefits Authority Actuarial Officer Job in Kenya

The Retirement Benefits Authority is a public sector organization
tasked with the role of regulating a key socio-economic sector in Kenya.
The Authority is seeking qualified and experienced talent to join it core team in the following positions:

Actuarial Officer

1 Post
Ref. HCD RBA/4/3/1/AO
Primary Purpose of the Job: Reporting to the Senior Actuarial Officer and the incumbent will be responsible for providing support to the actuarial officer in the generation of advise / guidance on matters relating to pensions. 

In addition the officer shall assist with complex pensions administration operations requiring actuarial input.
Duties and Responsibilities 
KRA 1: Provision of specialized actuarial services
  • Assisting in a wide range of actuarial and pensions administrative tasks including reviewing of actuarial valuation reports
  • Drafting of valuation reports and other valuation communications when required.
  • Assisting in the preparation and analyzing of data using Excel spreadsheet applications including any ad-hoc Excel project work and any other relevant application.
  • Calculating and checking member benefits and transfer values for individuals.
  • Assisting in the actuarial determinations as required.
  • Providing support to technical sub-committees (TSC) e.g. updating technical websites, with basic query handling. 
KRA 2: Risk Profiling
  • Assisting in the review of schemes to ensure compliance with the statutory requirements prior to registration. 
KRA 3: Risk Profiling
  • Work with the senior Actuarial officer in the carrying out of risk assessment of schemes and propose the supervision stance to be applied
  • Participate in review of risk profile of schemes and update the score with input received from the enforcement team
  • Work with other officers to ensure that the average risk score is maintained as per the score prescribed in the department annual target
  • Contribute to continuous improvement of the RBS toolkit and assessment guidelines
KRA 4: Financial Analysis
  • Participate in carrying out financial analysis of financial statements
  • Participate in inspection of schemes to ensure compliance with financial requirements
  • Participate in financial analysis on retirement benefit schemes financial statements and evaluate contribution returns 
KRA 5: Statutory Returns
  • Prepare statutory returns analysis reports
  • Participate in analysis of actuarial valuation reports to ensure scheme funding is in compliance with the law and consistency with best practice
  • Facilitate in preparing reports and design templates to be utilized as source of information in carrying out risk profiling of schemes.
KRA 6: Remedial Plans
  • Participate in design of templates to track remedial plans for underfunded schemes
  • Work with other officers to monitor and review of the remedial plans
  • Contribute to recommendations on courses of actions for schemes not complying to their remedial plan
  • Work with other officers to ensure schemes in difficulties submit remedial plans
  • Coordinate with the supervisory team in the enforcement and implementation of the remedial plans.
  • Participate in taking prompt action on the defaulters of remedial plans
  • Participate in implementation of internal audit and external audit recommendation 
KRA 7: Mergers, Conversions& Winding-up
  • Team up with other officers to review and approve applications for scheme design, conversions and ensure protection of rights of members and sponsors
  • Ensure that the winding-up process is executed in a timely manner. 
KRA 8: Annual General Meetings
  • Participate in training of trustees and other stakeholders in the industry 
KRA 9: ISO Standards
  • Participate in implementation of ISO audit recommendations
  • Participate in continuous improvement of department ISO procedures 
KRA 10: Enforcement
  • Participate in the development of practice notes relevant to the pension industry
  • Work with other officers to enforce compliance with statutory directions
  • Contribute to the development and improvement of the RBS enforcement manual
Requirements for Appointment
  • Bachelor’s degree in Actuarial Science;
  • Proficiency in computer applications;
  • At least 4 professional ACT papers
Key Personal Competencies 
  • Ability to work as part of a multi-disciplinary team, work closely with both our pensions administration and support teams.
  • Ability to undertake comprehensive research and analysis of financial data.
  • Ability to communicate effectively both verbally and in writing with people at all levels.
  • Ability to work on projects independently and with initiative
  • Ability to plan and co-ordinate activities and meet critical timelines
  • Ability to establish sound and effective working relationships
  • Ability to contribute innovative ideas to improve departmental processes
  • Experience in research and analysis work
  • Experience in the collection of data for analysis work
  • Experience in the use of computer analysis software and financial modeling.
How to Apply
who meet the requisite criteria should send their applications by post,
courier or hand delivery (but not on email), quoting the job reference
number and title of the position that they are applying for.
addition, applicants should submit a detailed curriculum vitae
containing details of their qualifications, experience, current and
expected remuneration as well as copies of relevant
professional/academic certificates and national identification card or
They should also include their day and evening telephone numbers, e-mail address and names and addresses of three referees. 
Envelopes containing the documents should be addressed to: –

The Chief Executive Officer
Retirement Benefits Authority
Rahimtulla Towers 
P.O Box 57733 – 00200 

Applications should be received by 15th April 2016

Please note:

1. RBA is an Equal Opportunity Employer and all qualified Kenyans are encouraged to apply.

2. Persons living with disabilities are encouraged to apply
3. Only shortlisted candidates will be contacted and canvassing will result in automatic disqualification.

Retirement Benefits Authority (RBA) is ISO 9001:2008 Certified

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