Actuarial and Data Management Officer

Job Description

Title: Actuarial and Data Management Officer

Company Name: Syngenta Foundation Bangladesh

Vacancy: 1

Job Location: Dhaka

Employment Status: Contractual

Educational Requirements:
∎ B.Sc in Actuarial Science/ Statistics/ Applied Statistics from any reputed university.

Experience Requirements:
∎ At least 1 year(s)

Job Context:
∎ Currently, SFSA Bangladesh is implementing a project titled, `Boosting Agriculture Risk Mitigation in Bangladesh through Climate Insurance for Small-holders` that envisions to enhance the resilience of smallholder farmers through climate insurance. The overall project objective is to design a set of customer centric Agriculture Climate Risk Insurance (ACRI) solution for various crops and perils (e.g. rice, potato, vegetable, maize and flood etc.) that is need based and adequately designed and tailored considering the risks faced by the smallholder farmers in Bangladesh. This initiative will be backed with development of an innovative end-to-end Agri-InsurTech Cloud Platform to facilitate efficient policy administration, contract monitoring and claims management. It is a 2-years long project, co-funded by the Insuresilience Solutions Fund (ISF), managed by the Frankfurt School of Finance and Management, and lead by Syngenta Foundation for Sustainable Agriculture (SFSA).
∎ For this project, SFSA Bangladesh is looking for a suitable candidate to fill up the position of `Actuarial and Data Management Officer`.
∎ Type of Contract : Full Time Employee of the project; initially for one year
∎ Location of Posting : Dhaka, with regular travel to project locations
∎ Job Summary:
∎ The position is central in weather index crop insurance product development for Syngenta Foundation`s Agricultural Insurance Solutions (AIS) team and the core responsibilities are;
∎ Technical product design and development,
∎ Actuarial calculations and pricing of insurance products, and
∎ Supporting and assisting the Project Manager in other activities as they develop.
∎ Relationships: S/he will be reportable to the Project Manager, ISF Project and work in close coordination with SFSA`s AIS and Actuarial team

Job Responsibilities:
∎ Weather Data Management:
∎ Manage relationships with various data providers,
∎ Maintain a database of various weather data sources that include automatic weather stations, river water level gauges and satellites, and
∎ Compile, analyze, update and check for anomalies in the data sources.
∎ Product Development:
∎ Conduct risk assessment with smallholders and partners to identify crop specific climate risks; ideate and design micro-insurance products based on the outcomes of risk assessment exercise,
∎ Perform actuarial calculations and pricing, and produce historical performance reports, and
∎ Coordinate with insurers on filing of the designed products with the relevant insurance regulators.
∎ Innovation of New Products:
∎ Lead product dry runs and manage field officers in conjunction with the Project Manager and Field Coordinator,
∎ Analyze the dry run reports, new data sources, develop and structure new insurance solutions and write the new product notes,
∎ Continuously improve the current premium estimation techniques,
∎ Coordinate with insurance companies to registrar new products with the relevant regulators, and
∎ Assist in developing InsurTech IT platform for Bangladesh in coordination with global team.
∎ Product Documentation:
∎ Coordinate with insurers to issue policy documentation such as term sheets, risk notes and policy documents.
∎ Product Review:
∎ Continuously review the running products and run comparison reports with ground observations, and
∎ At season end, lodge claims (if any) with the reinsurers and insurers.
∎ Additionally, the incumbent will be responsible to perform any other assignment(s) given by the management of SFSA Bangladesh.

Additional Requirements:
∎ At least 01 year relevant job experience with reputed local or multinational corporate/ NGO/ INGO/ Donor Funded Project is preferable; yet competent freshers are encouraged to apply.
∎ Strong statistical and data analytical skills are primary prerequisites.
∎ Practical knowledge of working with programming language (e.g. R or Python) is desirable.
∎ Fair understating of micro insurance/insurance, as a whole.
∎ Any professional qualification in Actuarial Data Science will be an added advantage.
∎ Excellent presentation and reporting skills.
∎ Willingness and physical ability to travel rural areas.
∎ Open to new ideas, creative but process oriented.
∎ Required Profile:
∎ Experienced in actuarial and/or statistical programming with a fairly good knowledge on both insurance and agriculture,
∎ Good presentation, reporting and communication skills to facilitate explanation of complex products in a simple way, and
∎ Quick learner, open to new ideas; creative with the ability to innovate and solve problem.

∎ An attractive salary package

Compensation & Other Benefits:
∎ Festival bonus, contributory provident fund, gratuity, group and hospitalization insurance will be offered according to the organization policy.

Job Source: Online Job Posting.

Application Deadline: 15 Apr 2021

Company Information:
∎ 1 Apr 2021
∎ Syngenta Foundation Bangladesh

Category: NGO/Development