Rinat Shakenov Email & Phone Number

Казахстан

Almaty, Kazakhstan

Alamty

Actuarial Consultant Group is a group of consulting companies focused on actuarial services in IAS 19 "Employee benefits", Insurance M&A, Insurance reserves, with offices in Almaty, Tashkent, Moscow, Bishkek, Minsk

Kiev Region, Ukraine

In this role, I initiated cooperation with a major Ukraine bank on the sales of insurance products through bank branches. Ensured that the governance arrangements are working in the most effective way and encouraged positive change where appropriate Addressed and resolved any conflicts within the Board. Established and built a strong, effective and a constructive working relationship. Ensured that the management gives appropriate priority to providing reports to the Board which contain… Show more In this role, I initiated cooperation with a major Ukraine bank on the sales of insurance products through bank branches. Ensured that the governance arrangements are working in the most effective way and encouraged positive change where appropriate Addressed and resolved any conflicts within the Board. Established and built a strong, effective and a constructive working relationship. Ensured that the management gives appropriate priority to providing reports to the Board which contain relevant, accurate, timely and clear information necessary for the Board to fulfil its duties.Successfully planned, directed and controlled entire business operations and reporting activities of the organization and developed annual plans that support strategic direction set by the board while correlating with annual operating budgets. Signed an agreement for the capital replenishment instalment plan within a period of 6 months by conducting effective negotiations with Ukraine insurance market regulator.Protection and control of shareholder interests, development and correction of the company's strategy and business plan. Work in inconstancy conditions of the insurance regulatory policy and strong volatility and competition of the Ukraine insurance market.Other duties:Monitoring financial planning and financial reports;Reviews with the Chief Executive any issues of concern to the Board;Helping guide and mediation Board actions with respect to organizational priorities and governance concerns;Chairing meetings of the Board after developing the agenda with the Chief Executive;Appointing the chairpersons of committees, in consultation with other Board members;Evaluating annually the performance of the organization in achieving its mission;Formulating the rules of governance for the organization and establishing procedures for oversight of its policies and procedures.Company assets worth USD $ 30 M and 300 employees Show less

Almaty Kazakhstan, Moscow Russia, Minsk Belarus, Tashkent Uzbekistan

Whilst as Business Development Director, I made a vital contribution in identifying new customers among CIS countries and developed new products to realize business benefits for the organization. Main business areas of the company: actuarial calculations for insurance companies and pension plans. Expanded the company's business activities to such countries as Russia, Belarus and Uzbekistan, customer base growth - 300% over past 3 years. Company recognized as the market leader in actuarial… Show more Whilst as Business Development Director, I made a vital contribution in identifying new customers among CIS countries and developed new products to realize business benefits for the organization. Main business areas of the company: actuarial calculations for insurance companies and pension plans. Expanded the company's business activities to such countries as Russia, Belarus and Uzbekistan, customer base growth - 300% over past 3 years. Company recognized as the market leader in actuarial services of Kazakhstan Republic at the end of 2017. Show less

Almaty, Kazakhstan

As Member of the Board of Directors, I developer and mentor of executive teams, I participated in the discussion and coordination of major investment transactions and budget. Participated in the Risk Committee and Investment Committee meetings to provide decision and analysis support of investment deals. Negotiating with issuers of securities in the event of debt or delays. Finding the best ways to hedge the currency risks of a portfolio.Other dutiesGoverning the Fund by… Show more As Member of the Board of Directors, I developer and mentor of executive teams, I participated in the discussion and coordination of major investment transactions and budget. Participated in the Risk Committee and Investment Committee meetings to provide decision and analysis support of investment deals. Negotiating with issuers of securities in the event of debt or delays. Finding the best ways to hedge the currency risks of a portfolio.Other dutiesGoverning the Fund by establishing broad policies and setting out strategic objectives;Approving annual budgets;Setting the salaries, compensation and benefits of senior management;Fund’s asset worth 40 M USD Show less

Almaty

During this tenure, I managed overall activities related to general management and strategic planning along with acceptance of the operational and executive-administrative decisions, including control over fulfillment of obligations under insurance and reinsurance agreements concluded with the participation of Kazakhstani and foreign companies and intermediaries. Organized work on the Company's cooperation with insurance brokers, development of the Company's cooperation with Kazakhstan and… Show more During this tenure, I managed overall activities related to general management and strategic planning along with acceptance of the operational and executive-administrative decisions, including control over fulfillment of obligations under insurance and reinsurance agreements concluded with the participation of Kazakhstani and foreign companies and intermediaries. Organized work on the Company's cooperation with insurance brokers, development of the Company's cooperation with Kazakhstan and foreign insurance and reinsurance organizations, insurance brokers and other subjects of the insurance market. Successfully increased income from inward reinsurance from CIS by 30% and overachieved the company budget by 10% within a span of 9 months in 2017; Revised the company's credit rating (Am Best) from B to B+. Improved and workflow procedures by driving automation in underwriting functions by extending the CRM capability;The portfolio underwriting profit was increased by 10% by optimizing commission costs, changing reinsurance conditions, creating new insurance products.The company entered to the top five leaders of the Kazakhstan Republic insurance market. A system of motivation and loyalty for employees and agents was developed and implemented, as a result, this led to a 20% reduction in complaints from customers and partners;Other duties:Report to the board of directors and keep them informed;Oversee the company’s fiscal activity, including budgeting, reporting, and auditing;Work with senior stakeholders, chief financial officer, chief information officer, and other executives;Creating an environment that promotes great performance and positive morale;Work with the executive board to determine values and mission, and plan for short and long term goals;Work closely with the human resource department to ensure great hiring;Total asset worth of Kazkommerts-Policy JSC – 140 M USD and 500 employees, annual net profit 10 M USD Show less

Almaty, Kazakhstan

As Corporate Executive, I controlled and coordinated activities of the Company's structural divisions on underwriting, risk reinsurance, global and brokerage projects, new products.Significant improvements were made in the automation of underwriting, the insurance orders application processing system was implemented.Partnerships with reinsurance companies from Europe, India and China were establishedMain Duties:Analyzing financial statements, sales reports, and other… Show more As Corporate Executive, I controlled and coordinated activities of the Company's structural divisions on underwriting, risk reinsurance, global and brokerage projects, new products.Significant improvements were made in the automation of underwriting, the insurance orders application processing system was implemented.Partnerships with reinsurance companies from Europe, India and China were establishedMain Duties:Analyzing financial statements, sales reports, and other performance indicators;Appointing department heads and managers;Negotiate or approve contracts and agreements;Establish and carry out departmental or organizational goals, policies, and procedures; Show less

Almaty, Kazakhstan

As Managing Director , I controlled and coordinated activities of the Company's structural divisions on underwriting, risk reinsurance, global and brokerage projects, new products.Significant improvements were made in the automation of underwriting, the insurance orders application processing system was implemented.Partnerships with reinsurance companies from Europe, India and China were establishedMain Duties:Developing the risk profile of the property insurance portfolio… Show more As Managing Director , I controlled and coordinated activities of the Company's structural divisions on underwriting, risk reinsurance, global and brokerage projects, new products.Significant improvements were made in the automation of underwriting, the insurance orders application processing system was implemented.Partnerships with reinsurance companies from Europe, India and China were establishedMain Duties:Developing the risk profile of the property insurance portfolio, search for the optimal XL treaty cover from leading A rating reinsurers;Assessment of the profitability of insurance products, lines of business, insurance portfolio of the company, organization work of the underwriting committee;Placement of risks in the European, Chinese, Russian reinsurance markets, settlement of the losses under reinsurance agreements;Insurance portfolio reporting for the Company Board and Insurance regulatorImplementation of a client scoring system and automated underwriting of retail insurance products for insurance agents;Gathering the feedback from the insurance industry to share with product development teams to ensure the ongoing evolution of the products to meet the client's requirements ;Conducting research to identify new markets and customer needs;Identifying market trends through maintaining a strong awareness of market and regulatory developments, and develop strategies to Company position;Representation of the Company and the Insurance line of business at conferences and industry events;Developing the systems and procedures to enable the effective execution of new business development;Developing and inspiring a team to implement the strategy and to achieve objectives and targets;Preparing analytical and performance reports as required for management and Board purposes Show less

Almaty, Kazakhstan

My responsibilities as an Actuary:Technical reserves assessment, insurance products, lines of business profitability valuation, reporting to the Board and Insurance Regulator.Tariff policy, calculation of tariffs for insurance programs and productsDetermination of retention the level under insurance and reinsurance contractsReporting automationForecasting key budget indicators for a business plan

Almaty, Kazakhstan

As Director of Risk Management Department, I was in charge of risks monitoring and reporting for the Board of Directors of the Company and the authorized body. Identified, measured, assessed and analyzed risks and implemented an integrated risk management and control systems to prevent insurance and financial risks. I was a member of the underwriting and investment committee, where I was responsible for providing analytical information for decision making. Key duties:Implement… Show more As Director of Risk Management Department, I was in charge of risks monitoring and reporting for the Board of Directors of the Company and the authorized body. Identified, measured, assessed and analyzed risks and implemented an integrated risk management and control systems to prevent insurance and financial risks. I was a member of the underwriting and investment committee, where I was responsible for providing analytical information for decision making. Key duties:Implement policies and conduct trainings that help reduce our company’s overall risk;Investigate and assess potential risks for assigned projects and accounts;Propose possible solutions/programs/protocols for minimizing risk and liability;Monitor operations to ensure compliance with all insurance and legal obligationsConduct fraud research and report on findingsWork to ensure client confidentiality and protect privacy Show less

Almaty

Whilst as Head of Internal Audit Service, I drove teams in conducting an internal audit of the Company's divisions, including branches.Key duties:Objectively review an organization's business processesEvaluate the efficacy of risk management procedures that are currently in placeProtect against fraud and theft of the organization's assetsEnsure that the organization is complying with relevant laws and statutesMake recommendations on how to improve internal controls and… Show more Whilst as Head of Internal Audit Service, I drove teams in conducting an internal audit of the Company's divisions, including branches.Key duties:Objectively review an organization's business processesEvaluate the efficacy of risk management procedures that are currently in placeProtect against fraud and theft of the organization's assetsEnsure that the organization is complying with relevant laws and statutesMake recommendations on how to improve internal controls and governance processes Show less

Almaty, Kazakhstan

My responsibilities as an Actuary:Technical reserves assessment, insurance products, lines of business profitability valuation, reporting to the Board and Insurance Regulator.Tariff policy, calculation of tariffs for insurance programs and productsDetermination of retention the level under insurance and reinsurance contractsReporting automationForecasting key budget indicators for a business plan

Almaty, Kazakhstan

As Managing Director, I led underwriting and risks reinsurance, new products, fulfillment of obligations under reinsurance contracts. Ensured timely payment of a reinsurance premium under outgoing reinsurance contracts, and timely receipt of a reinsurance premium under contracts of incoming reinsurance. Successfully controlled the profitability of channels / business lines.Main Duties:Assist brokers with product and business queries;Maintain existing relationships in order to… Show more As Managing Director, I led underwriting and risks reinsurance, new products, fulfillment of obligations under reinsurance contracts. Ensured timely payment of a reinsurance premium under outgoing reinsurance contracts, and timely receipt of a reinsurance premium under contracts of incoming reinsurance. Successfully controlled the profitability of channels / business lines.Main Duties:Assist brokers with product and business queries;Maintain existing relationships in order to protect existing books of business;Establish and build new relationships with existing and potential producers that have the prospective business that meets the companies underwriting criteria;Elaborating business development plans, design and implement processes to support business growth, through customer and market definition;Creating of functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure; Show less

Almaty, Kazakhstan

As Director of the Actuarial and Methodological Center, I forecasted the key financial indicators for budgeting, monitoring and analysis of the Company's statistical data in order to analyze insurance risks accepted by the Company. Carried out pricing framework & strategy, leading the negotiations with reinsurers, obtaining internal & regional product approval and complying with local regulatory product filing/approval requirement;Prepared responses to queries from regulatorsBuilt… Show more As Director of the Actuarial and Methodological Center, I forecasted the key financial indicators for budgeting, monitoring and analysis of the Company's statistical data in order to analyze insurance risks accepted by the Company. Carried out pricing framework & strategy, leading the negotiations with reinsurers, obtaining internal & regional product approval and complying with local regulatory product filing/approval requirement;Prepared responses to queries from regulatorsBuilt statistical studies for product initiativesDeveloped studies to investigate the adequacy of pricing assumptionsAnnual and monthly insurance portfolio experience analysisDeveloped, maintained, audited and reviews functional databases and identifiesinconsistencies. Prepared recommendations based on data summaries, trend analysis, financialanalysis, and business analysis. Updated and reviewed pricing and rating models, trends and assumptions. Assisted in product development activities and ensure timely and accurate Actuarialsupport on product development related programs and initiatives.Provided underwriting analysis for pricing and risk assessment selections includingfinancial, business, and trend analysis of data critical for decision making inachievement of business objectives. Show less

Almaty, Kazakhstan

During this tenure, I utilized statistical models to analyze data and calculated the probability of and costs associated with certain events, such as product failure, accidents, property damage, injury, and death. Evaluated the profitability of products and recommended strategic measures to overcome the risk metrics.Responsible for ensuring all necessary actuarial reports and actuarial certifications are filed with regulatory agencies/departments;Led the calculation of the technical… Show more During this tenure, I utilized statistical models to analyze data and calculated the probability of and costs associated with certain events, such as product failure, accidents, property damage, injury, and death. Evaluated the profitability of products and recommended strategic measures to overcome the risk metrics.Responsible for ensuring all necessary actuarial reports and actuarial certifications are filed with regulatory agencies/departments;Led the calculation of the technical provisions and loss ratio reportMonitored changes in regulatory rules and market practiceTechnical ProvisionsCo-ordination of the calculation of Technical ProvisionsData quality Assumptions and methodology Comparison of best estimate versus experience Informing the Board of the reliability and adequacy of calculationUnderwriting policyAdequacy of reinsurance arrangements Show less

As Actuary, I contributed in developing products by assisting in identifying market needs, for example, through the analysis of sales patterns, competitors’ products, and social and demographic trends. Assessed the feasibility of product design features suggested by others, as well as proposing alternatives for consideration. Main duties:Technical reserve assessment;Reporting;Ratemaking;Profitability assessment;Claims data analysis;

Whilst as Accounts Clerk, I carried out actuarial calculations, including reserve valuation, tariff policy, loss assessment, etc. Prepared reports for the National Bank of the Republic of Kazakhstan. Developed new products and drove automation in processes to achieve operational excellence and error free calculations.

Сertified Specialist, Insurance

Phd Of Math Science, Mathematics And Computer Science

Theme of scientific work :"Mathematical modeling, optimal and dynamic management (hedging) of securities portfolio"

Actuarial Science

Activities and Societies: Base Technical Core Program

Actuary, Actuarial Science

The license for actuarial activity No. 49 was issued by the National Bank of the Republic of Kazakhstan at 17.09.2007

Master'S Degree, Mathematics, Diploma With Honors

Bachelor'S Degree, Mathematics, Diploma With Honors