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 Description

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:

  • Bachelors 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:

  • Accommodation
  • Medical Insurance
  • Annual Flight Allowance
  • Full Relocation Covered
  • Tax-Free Salary & Benefits
  • Annual Leave 30 Days