Underwriting & Actuarial Manager

My client is a multi-line insurance carrier based in Riyadh, Saudi Arabia providing insurance for individuals and corporations, and offers automobile, marine, property and casualty, medical and engineering insurance.

Role:

To manage and oversee the underwriting and actuarial activities, while setting priorities, guiding pricing analyst and underwriter.

Pricing and Underwriting:

• Devise and improve operational policies and procedures in line with corporate and strategic guidance
• Deploy allocated resources for optimal performance and provide feedback to the direct line manager on resource requirements
• Monitor staff achievements, perform periodic performance appraisals, and provide guidance, coaching or training to direct reports in performing their delegated duties

Reserving:

• Producing recommendations on the required level of reserves for all relevant lines of business.
• Develop, embed and maintain a robust reserving process which meets local requirements.
• Work with the Corporate Actuarial Team to prepare reserving reports as required
• Portfolio profitability review, analysis and tracking

Capital Modelling:

• Operation of the model: understand the technical working of the capital model, co-ordinate with other departments to ensure the calibration of the model is done with accuracy, completeness and appropriateness, run and extract results from the model, ensure output provided from the model is accurate, complete and appropriate, provide quantitative and qualitative reporting.

Pricing:

• Support deployment of new pricing platform, coordinating with business leaders and external partners on model construction

Candidate Requirements:

• 7+ years of relevant experience with focus on P&C personal lines, knowledge of SAMA regulatory framework.
• Bachelor’s Degree in Mathematics, Statistics, Actuarial Science, Data Science, or a related subject
• Statistical Modelling, Data Analytics, Programming (Python, SAS, SQL)

Salt is acting as an Employment Agency in relation to this vacancy.