Actuarial Jobs, Actuarial Positions, and Actuarial Employment
Actuarial Jobs, Actuarial Positions, and Actuarial Employment
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Job ID: 38639
Job Openings by Title Senior Manager – Actuary
Location Saudi Arabia
Position:  Senior Manager - Actuary
Company: Insurance
Location: Saudi Arabia
Job ID: 38639
-Management Reporting
-Lead the development of all month-end reporting accurately including Net billed Summary, ensuring adequacy of Technical reserves and office rates.
-Set various distinguished actuarial methodologies and performing necessary actuarial analysis and ensure proper documentation is in place.
-Develop and enhance existing technical models to valuate expected reserves and ensure submit in accordance with regulatory presentation.
-Lead the function in capturing all risks related to reserving and pricing and ensure a proper communication and handling of such risks.
-Regulatory Reporting
-Supervise the actuarial function in meeting regulatory deadlines, and the company’s technical SPOC to all actuarial related queries.
-Engage with external partners to ensure adequate model is in place and replicate it for internal use and facilitate best practice
-Improve reporting quality and ensure reconciliation of outputs across different reports submitted to different regulatory bodies.
-Lead the function taskforce in newly established regulatory practices (i.e. IFRS17) and ensure the function readiness and adaptability
-Data Management and enhancements
-Design and implement solution for modelling and reporting challenges
-Identify opportunities for standardization and improve efficiency through automation or process changes and lead department initiatives and data solution.
-Improve the reporting strategy for better understanding, data handling and streamline data flow through utilization of SAS software.
-Implement and maintain data and model governances.
-Plan documentation plans for the function.
-Ensure the update of company data ground and definitions.
-Team Leadership
-Cyclical KT sessions with actuarial to ensure knowledge transfer.
-Increase the team knowledge through training
-Increase level of governance among team members by introducing a “doer checker” practice.
-Lead the succession plans by ensuring a proper shadow is covering for all reports.
-Encourage the team to remain up to date with actuarial practices and liaise with management to develop relevant skills to actuarial practices.
-Business Intelligence
-Enhance/maintain current forecasting methods and develop methodologies to accommodate different business risks.
-Monitor inflation/business trends (i.e. mix impact) and ensure alignment with operation finance.
-Actuarial SPOC in all co-insurance and reinsurance treatments, which impact financial results.
-Develop business intelligence tool to help the business thrive as a holistic progressive finance function. (i.e. Back-testing report, Shortfall reconciliation, reserving adequacy tests)
-Flag potential inflation, data anomalies and other uncaptured risks through a standard business cycle.
-Develop business intelligence analysis, and ensure extreme ownership to capture the full landscape of risks the company might be exposed to.
-Product Development
-Lead on the ideation process to come up with innovative, practical, and profitable products, and to price new products.
-Ensure coherent controls of the risks in systems and processes for the implemented products.
-Monitor closing the performance of the launched product.
-Support medical underwriter in pricing and analysing new initiatives.
-Support pricing team in pricing new benefit and assist the impact of new benefit initiatives the company or regulator might implement.

-Minimum Bachelor’s degree
-A minimum of 5 years’ experience
-Qualified (Fellow)
-Industry experience.
-Project management.
-Agent of change to develop and nurture department capabilities.
-Result oriented, efficient in meeting objectives.
-Building good network with external and internal parties. Outstanding analytical & problem solving skills.
-Strong verbal and written communication skills.
-Extensive knowledge of statistical modelling techniques
-Strong leadership skills
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