Actuarial Analyst Job Vacancy in Mbarara, Uganda – Insurance & Financial Services

Job Description

Position: Actuarial Analyst

Company: AIA Uganda

Location: Mbarara, Uganda

Experience: 2-4 years

Education: Bachelor's degree in Actuarial Science, Mathematics, Statistics or related field

Employment Type: Full-time

Industry: Insurance & Financial Services

Department: Actuarial & Risk Management

Salary: SSP 2,500,000 – SSP 3,500,000 per annum

Vacancies:1

Company Overview

AIA Uganda is a leading life insurance provider operating across East Africa, renowned for its innovative protection solutions and customer‑centric approach. Established as part of the global AIA Group, the company combines international best practices with deep local market insight, delivering a broad portfolio of life, health, and savings products. With a strong commitment to financial inclusion, AIA Uganda actively supports community development initiatives, financial literacy programs, and sustainable business practices. The organization prides itself on a collaborative culture that encourages continuous learning, diversity, and ethical conduct. As a top employer in Uganda, AIA Uganda offers career pathways that empower professionals to grow, contribute to strategic objectives, and make a meaningful impact on the lives of millions of Ugandans. This reputation makes AIA Uganda a sought‑after destination for ambitious talent seeking rewarding Uganda Jobs and long‑term career development.

Job Overview

The Actuarial Analyst will join the Actuarial & Risk Management department to support the design, pricing, and valuation of insurance products. Reporting to the Senior Actuary, the analyst will apply statistical techniques, predictive modeling, and financial theory to assess risk, calculate reserves, and ensure regulatory compliance. This role is pivotal in shaping product profitability, guiding strategic decisions, and enhancing the company’s competitive edge in the dynamic insurance market of Uganda. The successful candidate will collaborate with underwriting, finance, and product development teams, providing data‑driven insights that drive sustainable growth. This position offers a unique opportunity to work within a globally recognized insurer while contributing to the development of innovative solutions that address the evolving needs of Ugandan customers. The role aligns with the broader mission of creating secure financial futures and supports the company’s ambition to be a market leader in Insurance & Financial Services.

Key Responsibilities

• Develop and maintain actuarial models for life, health, and savings products using Excel, R, or Python.
• Perform pricing analysis, profitability assessments, and scenario testing for new and existing products.
• Calculate technical reserves, capital requirements, and risk margins in accordance with local regulatory standards.
• Prepare actuarial reports, dashboards, and presentations for senior management and regulatory bodies.
• Collaborate with underwriting and product teams to refine assumptions, improve data quality, and optimize product features.
• Monitor experience data, conduct variance analysis, and recommend adjustments to pricing structures.
• Support the development of predictive analytics initiatives to enhance underwriting efficiency.
• Assist in the preparation of statutory filings and compliance documentation.
• Stay updated on industry trends, regulatory changes, and emerging actuarial techniques.

Required Skills

• Strong analytical and quantitative skills with proficiency in statistical software (R, SAS, Python) and advanced Excel.
• Excellent understanding of actuarial concepts, life tables, mortality assumptions, and risk modeling.
• Ability to interpret complex data sets, identify patterns, and communicate findings clearly.
• Detail‑oriented mindset with a focus on accuracy and regulatory compliance.
• Effective teamwork and communication skills to liaise with cross‑functional departments.
• Problem‑solving attitude and capacity to work under tight deadlines.
• Knowledge of Ugandan insurance regulations and IFRS 17 is advantageous.

Education

The candidate must hold a Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics, or a closely related discipline. Professional actuarial qualifications (e.g., IFoA, SOA) are highly desirable and will be considered a strong asset during the selection process.

Experience

A minimum of 2 to 4 years of experience in actuarial analysis, pricing, or reserving within the insurance sector is required. Experience with life or health insurance products, regulatory reporting, and predictive modeling will be given priority.

Salary

The compensation package ranges from SSP 2,500,000 to SSP 3,500,000 per annum, commensurate with experience, qualifications, and performance. The package includes performance‑based bonuses and comprehensive benefits.

Benefits

• Competitive salary with annual performance bonus.
• Medical, dental, and vision coverage for employee and dependents.
• Retirement savings plan with employer contributions.
• Paid parental and annual leave.
• Professional development allowance and support for actuarial exams.
• Employee assistance program and wellness initiatives.

Training

• Structured onboarding program covering AIA Uganda's products, systems, and compliance framework.
• Access to internal and external actuarial training workshops, webinars, and conferences.
• Mentorship from senior actuaries to accelerate skill development.
• Opportunities to pursue actuarial certifications with company sponsorship.

Working Environment

AIA Uganda offers a modern office environment in Mbarara equipped with collaborative workspaces, high‑speed internet, and advanced analytical tools. The culture promotes innovation, inclusivity, and a healthy work‑life balance, encouraging employees to share ideas and contribute to continuous improvement.

Application Process

Interested candidates should submit their updated CV and a cover letter outlining their suitability for the role through the online portal. Applications will be reviewed on a rolling basis, and shortlisted candidates will be contacted for an interview. For detailed information about the application steps, please visit https://ugandajobssearch.com/.

Equal Opportunity Statement

AIA Uganda is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of gender, race, religion, disability, or sexual orientation. All qualified applicants will receive consideration for employment without discrimination.