Assistant Manager - Actuarial

Assistant Manager – Actuarial

Union Assurance is a leading corporate and the fastest growing entity in the Life Insurance industry backed by the strength and stability of John Keells Holdings PLC, one of Sri Lanka's largest conglomerates.

The Job:

The person will be responsible for performing actuarial valuations and use actuarial techniques, support senior management in assessing the solvency position of the Union Assurance

Principal Accountability:

• Perform regulatory Actuarial Valuation for each monthly, quarterly & annual requirement.
• Conduct statistical analysis, data preparation, update & execute DCS for data validation.
• Execute prophet model runs, refine parameters with experience investigations, report preparation and assist the team in calculating the solvency position of the company for timely regulatory submissions, according to the formats of IRCSL.
• Collaborate with respective departments to gather information and support team to provide all internal and external requirements in timely manner.
• Use prophet software to calculate the reserves for liabilities and calculate reserves for products which are not set in the Prophet.
• Regular workbook updates, improvements and update the procedure manuals.
• Contribute and execute mortality investigation, lapse Investigation, Expense Investigations, etc and conduct trend analysis against previous investigations.
• Support Life Operations on calculating surrender values, maturity values or any other details on need basis to enhance their work efficiency.
• Execute reviews on system and ensure accuracy of fund build ups and perform continuous monitoring to ensure its accuracy.
• Stay abreast with actuarial standards and regulations and make recommendations for adjustments to governance & valuation reporting strategies as needed.

Qualifications and Experience:

• A bachelor’s degree in mathematics, Statistics or BSc in Actuarial Science.
• A Full/ Part qualification in recognized professional institute will be an added advantage
• At least  04 to 06 years’ experience in pricing and Valuation.
• Strong mathematical skills and in- depth understanding of the product pricing.
• Excellent Analytical, problem-solving skills and attention to detail is mandatory.
• Strong adaptability, work under pressure and capacity to work in fast-paced environments.
• Ability to work independently and in a team-oriented environment

The selected candidate for the above position will be entitled to an attractive remuneration package. Applicants who are interested are encouraged to apply on or before 15th January 2026.