National Bank of Rwanda (BNR) Overview
The National Bank of Rwanda (NBR) was established in 1964 with the aim of issuing the Rwandan currency named Franc Rwandais (Frw). Over the years, the role of the NBR has evolved. The current Law N°48/2017 of 23/09/2017 as amended to date, confers a clear mandate on the NBR with a mission of ensuring price stability and a sound financial system. Price stability is achieved by conducting appropriate monetary policy in the interest of a stable macroeconomic environment, while financial stability is achieved by regulating and supervising the financial system.
Job Description
Reporting to Manager,Insurance Supervision,the Principal Inspector will be responsible for identifying, assessing, and monitoring risks in the insurance and pension sectors
Job Responsibilities
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Participate in both on-site and off-site inspections to assess insurance institutions, identifying key business risks, risk management practices, and compliance with applicable laws and regulations.
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Conduct actuarial analysis on key trends and developments affecting the insurance and pension sectors, providing forecasts, stress tests, and scenario analyses.
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Support the development and review of actuarial-related supervisory tools such as mortality tables, lapse rates, disability scales, and stress-testing frameworks.
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Identify gaps in existing laws, regulations, and directives, and advocate for changes to ensure alignment with modern financial stability, prudential supervision, and international standards (e.g., ICPs, IOPS).
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Advise on the insurers’ design and pricing of insurance policies, reviewing the adequacy of technical liabilities and actuarial valuation reports.
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Propose changes to the financial sector laws and regulations, ensuring innovations that promote the financial stability of the insurance and pension industries.
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Initiate and support research projects related to financial sector stability and propose initiatives for sound actuarial practices.
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Prepare technical documentation for internal and external stakeholder engagement on new projects, laws, and regulatory frameworks.
Job Requirements
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Minimum of a Master's Degree in Actuarial Science or a related field, with an advanced level of professional actuarial certification from a globally recognized institute (e.g., IFoA)
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A minimum of five (5) years of experience in the insurance or pension sector, or a related field, with demonstrated experience in actuarial practices.
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Familiarity with both life and general insurance actuarial functions would be an added advantage
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