Job Description
MANAGER - ACTUARIAL SERVICES
We are looking for a detail-oriented and analytical actuarial professional to lead actuarial activities, ensure pricing excellence, strengthen reserving practices and support strategic decision-making.
KEY RESPONSIBILITIES
- Pricing: Develop, review and refine life insurance pricing, product features and illustrations to ensure profitability, competitiveness and alignment with company strategy.
- Valuation & Reserving: Oversee mathematical reserving, including IBNR and risk margin calculations, and ensure compliance with Sri Lanka Accounting Standards (LKAS) and regulatory requirements.
- Reporting & Analysis: Prepare actuarial reports for management, Board, IRCSL and auditors; provide insights on key performance indicators, trends and variance analysis.
- Product Development: Support product design, feasibility studies, profitability testing and sensitivity analysis for new and existing products.
- Reinsurance & Capital: Support reinsurance arrangements, capital management, solvency monitoring and ORSA processes.
- Data & Systems: Ensure data integrity, develop actuarial models and dashboards, and drive process improvements and automation.
- Compliance: Ensure adherence to IRCSL guidelines, regulatory requirements and best actuarial practices.
- Leadership & Advisory: Guide and develop the actuarial team and provide actuarial advice to Senior Management and Board Committees.
QUALIFICATIONS & EXPERIENCE
- 1 Fellow (or equivalent) of a recognised actuarial body such as IFoA (UK), SOA (USA), IAI (India), IFoA (Australia) or IAI, Sri Lanka.
- 2 Minimum 2–3 years of post-qualification experience in life insurance in an actuarial or analytical role.
- 3 Strong knowledge of IFRS 17, RBC framework, reserving methodologies and Sri Lankan insurance regulations.
- 4 Proficiency in actuarial modelling software (e.g., Prophet, MG-ALFA, R, Python, SQL) and advanced Excel.
- 5 Experience in product pricing, profitability analysis and reinsurance is an added advantage.
KEY COMPETENCIES
- Analytical thinking and problem-solving
- Strong communication and stakeholder management
- Strategic mindset and commercial acumen
- Leadership, teamwork and mentoring
- Integrity, attention to detail and professionalism
An attractive remuneration package commensurate with qualifications and experience will be offered to the successful candidate.
APPLY WITHIN 14 DAYS OF THIS ADVERTISEMENT.
If you think that you’re fit for the above position, please forward your CV along with the contact details of two non-related referees to [email protected]
Assistant General Manager - Human Resources
Sanasa Life Insurance Company PLC
No. 20, 2nd Floor, Colombo 03
011 200 2021
www.sicl.lk
