Actuary - Life Insurance Job

Salary USD

7,000 / month

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Country:

Saudi Arabia

City:
Riyadh

Employment Type:
Full Time - Hybrid

Job ID:
32407

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

Developing and pricing life insurance products such as term life, whole life, annuities, and universal life insurance.
Calculating and maintaining reserves to meet future policyholder obligations and regulatory requirements.
Analyzing mortality, morbidity, and other factors to assess the financial impact of various risks.
Conducting analyses of policyholder behavior and updating assumptions based on observed trends.
Assessing capital requirements and ensuring efficient allocation to meet solvency and regulatory obligations.
Ensuring adherence to local and international standards such as Solvency II or other actuarial guidelines.
Building and maintaining actuarial models to project cash flows, profitability, and risk scenarios.
Designing reinsurance programs to mitigate risks and optimize clients' exposure to large losses.
Commitment to ongoing professional development and staying updated on industry trends, regulatory changes, and actuarial best practices.
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 life 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 Prophet, GGY AXIS, MoSes, 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

Developing and pricing life insurance products such as term life, whole life, annuities, and universal life insurance.
Calculating and maintaining reserves to meet future policyholder obligations and regulatory requirements.
Analyzing mortality, morbidity, and other factors to assess the financial impact of various risks.
Conducting analyses of policyholder behavior and updating assumptions based on observed trends.
Assessing capital requirements and ensuring efficient allocation to meet solvency and regulatory obligations.
Ensuring adherence to local and international standards such as Solvency II or other actuarial guidelines.
Building and maintaining actuarial models to project cash flows, profitability, and risk scenarios.
Designing reinsurance programs to mitigate risks and optimize clients' exposure to large losses.
Commitment to ongoing professional development and staying updated on industry trends, regulatory changes, and actuarial best practices.
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 life 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 Prophet, GGY AXIS, MoSes, 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.