Job title:	Actuary - General Insurance
Job type:	Permanent
Emp type:	Full-time
Industry:	Financial Services
Skills:	IFRS17 & Solv II Actuarial Software Problem Solving Teamwork
Salary type:	Monthly
Salary:	USD $7,000.00
Location:	Riyadh, Saudi Arabia
Job published:	03-02-2025
Job ID:	32406

Job Title: Actuary - General Insurance

1- year Employment Contract (renewable)

Hybrid: Approximately six months remote and six months on site

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 Benefits: