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Saudi Arabia
Salary - AED :
Negotiable / Month
Experience :
15 Years


Our client, a multinational insurance company based in Saudi Arabia is looking for an Appointed Actuary role.


Reporting to: Board of Directors through the Executive Committee



Manage the actuarial function and ensure compliance with regulatory requirements, and form the base to building the organization’s asset/ liability requirements, capital adequacy, reserves adequacy, and product pricing




Managerial/Leadership Responsibilities

·        Participates in the development and implementation of business plans, in line with the corporate objectives.

·        Directs, manages, and controls the functional mandates, providing leadership and facilitating work processes to achieve high performance standards.

·        Defines smart objectives for each team member and ensures effective application of the performance management process.

·        Ensures high level of employee engagement and capability development by providing on-going feedback, coaching team members and ensure of knowledge transfer to subordinates.



·        Manage Actuarial function and ensures its compliance to regulatory requirements as well as market Standards.

·        Ensures Actuarial function compliance to Actuarial princplies and market Standards for Insurance


Core Responsibilities

·        Approve and ensure implementation of Actuarial function policies and procedures and ensure its efficiency.

·        Manage and monitor Actuarial function budget for cost efficiency.

·        Manage internal and external relationships and represent the organisation in all business matters related to Actuarial function.

·        Ensure actuarial results are promptly communicated and form the base to building the organisation's asset/ liability requirements, capital adequacy, reserves adequacy, Risk Modeling and product pricing.

·        Comply with information security & Data protection obligations to have 0% tolerance on data leakage




1.      Pricing of Motor and Medical Portfolio

a.     Data extraction, validation, and reconciliation

b.     Generation of rating factors

c.     Generating the net premium pricing

d.     Expense analysis, allocation and expense factor built up

e.     Establishing a comprehensive gross premium pricing framework

2.     Quarterly Motor and Medical Pricing Adequacy

a.     Regular experience studies for the Risk and Expense factors

b.     Measure the deviation in the profitability due to the actual experience getting realized

3.     Valuation and Financial Reporting

a.     Conduct monthly actuarial valuation (life and non-life)

b.     Quarterly valuation certificates

4.     Annual Financial Condition Report

5.     Annual Data Adequacy Report

6.     Experience Studies

a.     Conduct regular/periodic experience studies for each parameter used in pricing and valuation


1.    Financial Condition Report (Annual)

2.   Retail Motor Pricing Report (Annual)

3.   Fleet Motor Pricing Report (Annual)

4.   Medical Pricing Report (Annual)

5.   Persistency Report (Annual)

6.   Motor Reserving Report (Quarterly)

7.   Mid-Year Review Report (Annual)

8.   Data Adequacy Report (Annual)

9.   Pricing Adequacy Report (Annual)



·         Qualification: Bachelor’s Degree in actuarial, insurance, or related discipline

·         Professional Certifications: Fellow of an Actuarial Association such as SOA or IFOA

·         Experience: A minimum of 15 years of relevant experience