FSA Actuary with minimum 7 years experience mainly in Life insurance, needed for a leading risk management company in Saudi Arabia.
- BSc or MSc in Actuarial or related subject
- Must be a member of the Society of Actuaries (Fellow)
- 7+ years experience in insurance and reinsurance industry, and previous experience in actuarial consultancy firm and/or Life and health insurance and reinsurance in the MENA region
- Strong understanding of actuarial principles and analysis
- Excellent communication, planning organization and problem-solving skills
- Good interpersonal and management skills
- Ability to manage processes and handle multiple tasks simultaneously
- Proficient in all MS Office applications
- Fluent in Arabic and English
- Prepare Actuarial report and recommendations to the clients based on their data summaries, trend analysis in respect of their existing portfolios.
- Articulate the Actuarial rationale behind the actuarial recommendations to clients either in writing or during client meetings.
- Interprets and assess statistics to determine probabilities of accidents, sickness, and death.
- Provide actuarial analysis for pricing and risk assessment selections including trend data analysis.
- Provide actuarial advice’s on the overall rate/pricing, underwriting policy and guidelines.
- Design and develop new products and produce underwriting procedures and risk selection guidelines to insurers.
- Provide insurance companies a breakdown analysis of the development of their existing insurance portfolios.
- Advise product development and pricing for insurance companies.
- Produce an annual report about the adequacy of the technical reserves of the insurance companies.
- Perform rate revision every six months, per product and class of coverage mainly for life and health business.
- Produce a quarterly loss performance Report for insurers with exhibits showing the portfolio performance and highlighting major KPIs.
- Lead and deliver presentations communications to clients, prospects or industry seminars that will promote the company service and operations
Salary & Compensation:
While the salary and benefits depend on the level of experience and competencies of the potential candidates, the FSA Actuary position offers an attractive package.
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