Actuary Senior Manager at PricewaterhouseCooper (PwC) Nigeria

August 16, 2023
Application deadline closed.

Job Description

PricewaterhouseCooper (PwC) Nigeria has been operating in Nigeria since 1953 through its predecessor firms of Coopers & Lybrand and Price Waterhouse. We’re one of the leading professional services firms in the country with offices in Lagos, Abuja and Port Harcourt, over 1000 staff and 31 resident partners.

Description & Summary

  • A career within Actuarial Services, will provide you with the opportunity to contribute advice and consulting services based on data and statistics to clients such as insurers, banks, regulators, and third-party administrators.
  • You will provide advice covering solvency, economic capital, risk management, mergers and acquisitions, company restructuring and risk control, financial modeling, underwriting, new legislation, and the efficiency of claims or reporting processes. Simply put, you will use data for good; solving business problems for our clients within a wider community of solvers.
  • The range of work will be wide in scope and will vary from for instance analyzing the impact that new regulation will have on an insurance company’s balance sheet to you could be revising businesses’ projections and making sure they have adequate reserves.
  • To really stand out and make us fit for the future in a constantly changing world, each and every one of us needs to be a purpose-led and values-driven leader at every level.
  • To help us achieve this we have a global leadership development framework. It gives us a single set of expectations across our lines, geographies and career paths, and provides transparency on the skills we need as individuals to be successful and progress in our careers, now and in the future.

As a Manager, you’ll work as part of a team of problem solvers, helping to solve complex business issues from strategy to execution. Professional skills and responsibilities for this management level include but are not limited to:

  • Develop new skills outside of your comfort zone.
  • Act to resolve issues which prevent the team working effectively.
  • Coach others, recognise their strengths, and encourage them to take ownership of their personal development.
  • Analyse complex ideas or proposals and build a range of meaningful recommendations.
  • Use multiple sources of information including broader stakeholder views to develop solutions and recommendations.
  • Address sub-standard work or work that does not meet firm’s/client’s expectations.
  • Use data and insights to inform conclusions and support decision-making.
  • Develop a point of view on key global trends, and how they impact clients.
  • Manage a variety of viewpoints to build consensus and create positive outcomes for all parties.
  • Simplify complex messages, highlighting and summarising key points.
  • Uphold the firm’s code of ethics and business conduct.

Role Summary

We are expanding our actuarial team due to the need we have seen in the market, with the main areas of focus on the key core actuarial activities of reserving; pricing; risk and capital management as well as a myriad of other areas in financial services such as:

  • Assignments in pricing and product development
  • Risk and capital modelling, optimization and management
  • Valuation of liabilities under IFRS/GAAP/Risk Based Capital regimes
  • IFRS 17 implementation support
  • Risk based capital template
  • MCEV calculations and review
  • Internal actuarial function roles
  • Developing and optimising reinsurance mechanisms
  • Predictive modelling and visualisation
  • Insurance Liability Valuations
  • Valuations and advice related to pension and employee benefits matters
  • Assisting in due diligence with respect to actuarial aspects
  • Risk modelling and Stress testing
  • You will be an integral part of the team based in Nigeria, as well as those delivering actuarial services across a Global Network.

Position / Program Requirements

  • Qualifications / Certifications required: Associate level of the IFoA or similar level of actuarial examinations
  • Bachelor’s Degree in Actuarial Science / Mathematics/ Statistics/ Other relevant quantitative courses
  • Masters an added advantage.

Experience required:

  • 9 years of professional experience (post NYSC).
  • Experienced and comfortable in working as part of a diverse team.
  • Building actuarial models and communicating results to stakeholders.
  • Technical competence in one or more of the core actuarial practice areas .
  • Experience with Actuarial professional standards and the application of the actuarial control cycle.
  • Experience with coding is an additional advantage.

Attributes required:

  • Actively engage with our people to develop junior resources within the firm to enable them to be valued as experts in their domain.
  • Demonstrate care and commitment to the team and our business.
  • Invest in your own personal development goals as a continued learning opportunity.
  • Playing an active role to deliver solutions that are on scope, time, quality and budget.
  • Ability to manage your own workload.
  • Excellent oral and written communication skills as well as basic presentation skills .
  • Ability to work within a fast-paced & unstructured environment.  Must be able to multi-task and effectively and continually prioritise.
  • Excellent time management, communication and organisational skills.