Actuary - General Insurance Job

Salary USD

7,000 / month

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Country:

Saudi Arabia

City:
Riyadh

Employment Type:
Full Time - Hybrid

Job ID:
32406

Posted on:
14 April 2025

Client / employer

A unique opportunity to work with an established actuarial and financial modelling service provider.. Offering excellent conditions of employment, working alongside an international team.

Core job competencies

IFRS17 & Solv II

Actuarial Software

Problem Solving

Teamwork

Job description

GENERAL DUTIES

Develop and maintain insurance pricing models to accurately reflect risk and ensure competitive pricing in the market.
Analyze and report on the financial implications of various insurance products and recommend suitable pricing strategies.
Conduct reserve calculations to accurately estimate future claim payments and ensure the clients' financial stability.
Collaborate with clients' underwriting, product development, and finance teams to provide actuarial input and support business decisions.
Reviewing historical claims data to identify patterns and adjust underwriting strategies.
Designing reinsurance programs to mitigate risks and optimize clients' exposure to large losses.
Stay informed of industry trends, regulatory changes, and actuarial best practices to ensure compliance and optimize clients' business strategies.
Engaging with clients, auditors, regulators and other stakeholders.
Working to tight deadlines and keeping up to date with changes in actuarial science and emerging technologies in the insurance industry.

EXPERIENCE

Strong background in general insurance with proven 5+ years of work experience in a similar role.
Hands on experience and familiarity with Solvency II, IFRS 17, and other relevant regulatory frameworks.
Proficiency in statistical tools and programming languages such as R, Python, or SQL.
Expertise in actuarial software like ResQ, Igloo, or other reserving and pricing platforms.
Ability to communicate complex actuarial concepts to a non-technical audience.

QUALIFICATIONS

Bachelor’s degree in mathematics, statistics, actuarial science, economics, or a related field.
Membership or certification from the Institute and Faculty of Actuaries (IFoA), or equivalent.

Job description

GENERAL DUTIES

Develop and maintain insurance pricing models to accurately reflect risk and ensure competitive pricing in the market.
Analyze and report on the financial implications of various insurance products and recommend suitable pricing strategies.
Conduct reserve calculations to accurately estimate future claim payments and ensure the clients' financial stability.
Collaborate with clients' underwriting, product development, and finance teams to provide actuarial input and support business decisions.
Reviewing historical claims data to identify patterns and adjust underwriting strategies.
Designing reinsurance programs to mitigate risks and optimize clients' exposure to large losses.
Stay informed of industry trends, regulatory changes, and actuarial best practices to ensure compliance and optimize clients' business strategies.
Engaging with clients, auditors, regulators and other stakeholders.
Working to tight deadlines and keeping up to date with changes in actuarial science and emerging technologies in the insurance industry.

EXPERIENCE

Strong background in general insurance with proven 5+ years of work experience in a similar role.
Hands on experience and familiarity with Solvency II, IFRS 17, and other relevant regulatory frameworks.
Proficiency in statistical tools and programming languages such as R, Python, or SQL.
Expertise in actuarial software like ResQ, Igloo, or other reserving and pricing platforms.
Ability to communicate complex actuarial concepts to a non-technical audience.

QUALIFICATIONS

Bachelor’s degree in mathematics, statistics, actuarial science, economics, or a related field.
Membership or certification from the Institute and Faculty of Actuaries (IFoA), or equivalent.