Job Description


Assist the Actuarial Manager in leading the development of financial projections and analysis to derive meaningful information with regards to risk-influenced life, pension and other insurance products, and other financial statement items including risks undertaken by the company. Help the Actuarial Manager to provide realistic and innovative solutions to financial and other problems for uncertain events to assist management in the decision making process.




Duties and Responsibilities


  • Actively participates in and help the management in the product development process including the preparation of the business case, modeling and profit testing, regulatory approval process, ensuring proper implementation of product documentation (e.g. policy wording) and systems (administration system and illustration).
  • Must be aware of the fundamental concepts and techniques for modeling and managing risks.
  • Participates in product related work such as Product Committee meetings and provides comparisons with competitors’ products.
  • Assist the Actuarial Manager with Reinsurance: Ensure that appropriate treaties are in place, giving actuarial advice on the reinsurance needs and pricing.
  • Comply with all the management-reporting requirements for reserves and reinsurance on a timely basis and adequacy Capital.
  • Ensure calculation and booking of adequate reserves, including daily valuation of assets under management and reserves   and other related actuarial valuations.
  • Helps the Actuarial Manager in Investigation Studies (e.g. lapses, expenses, mortality). The feedback also includes study of impact on profitability of company.
  • Regulatory Reporting: Ensures that all the regulatory reports are done correctly and on time and secures the signs off for the reports.
  • Prepare Capital adequacy reports as required by the Treasury and Management including the impact on it out of proposed profit distribution to the sharehoders, if any.
  • Provides support to Operational (Client Services, Claims, Underwriting) and Profit Centers (Pension, Group Life, Credit Life, Accident &Health etc.)
  • Ensures compliance with legislation and regulations related to area of responsibility.
  • Reviews work prepared by staff/senior analysts and external consultants to ensure accuracy and consistency.
  • Assist the Actuarial Manager in providing the  product training to the trainers/staff.


  • Maintains and updates the library of laws, regulation and circulars from the regulatory bodies (treasury, association etc.)
  • Prepares response on related regulatory issues such as draft regulation. In doing so, ensures that the views of related parties are collected.



  • Secures sign off the Actuarial Manager on all of the regulatory reports related to the department.
  • Responsible for preparation of reports for the management such New Business Statistics, Profitability of New Business.
  • Ensures periodic preparation of the statistics related to company’s portfolio
  • Assists the Accounts and Finance Department with the reporting and budgeting from an actuarial point of view.


Support to Profit Centers

  • Works together with profit center managers to determine their needs, help them to enhance profitability and competitiveness of their products and related procedures.


Market Intelligence

  • Monitors, collects and reports to General Manager, all information related to the insurance industry, practices, financial results, etc. in an organized, timely and documented manner.
  • Manages, in coordination with the Actuarial Manager and GM, the relationship with the various government bodies including Treasury.


Audit Related

  • Coordinates and ensures smooth running of the regulatory technical audit.
  • Also attends to other audits (internal, regulatory financial etc.) related to the department.
  • Complies with the Company Code of Conduct at all times. Ensures reports are also compliant.
  • Other assignments, functions or responsibilities delegated by the company management that are suitable in scope and requirements to the incumbent’s qualifications and necessary for the achievement of corporate objectives.





§  University Degree in Actuarial Science, Statistics, Mathematics or similar degree preferred.

§  The candidate must have passed at least level 1 or 2 of actuarial exams of the Turkish institute of actuaries or students who are in the process of acquiring the associate membership of Society of actuaries from US, Canada or UK.

§  3 to 5 years of actuarial experience work required in the field of Life and Pension.  

§  Licensure & Certification: Not registered yet but in the process of becoming a registered Actuary.

§  Good command of speaking and writing English will be a plus

§  Excellent computer skills including knowledge of Excel, programming and visual basics.

§  Adequate working knowledge of actuarial applications including Moses or Prophet.


Knowledge & Skills:

§  Experience leading a small team of analysts preferred.

§  Ability to analyze data and develop strategic recommendations.

§  Experience in group presentations and project management.

§  Demonstrated skills or past achievement to obtain desired results.

§  Excellent Excel and Access skills required.

§  Demonstrated ability to learn additional software applications as required.