Senior Manager – Actuary

  • 38639
  • Health - Actuarial
  • |
  • Saudi Arabia
  • |
  • Nov 23, 2020
Insurance
RESPONSIBILITIES
  • Management Reporting
  • Lead the development of all month-end reporting accurately including Net billed Summary, ensuring adequacy of Technical reserves and office rates.
  • Set various distinguished actuarial methodologies and performing necessary actuarial analysis and ensure proper documentation is in place.
  • Develop and enhance existing technical models to valuate expected reserves and ensure submit in accordance with regulatory presentation.
  • Lead the function in capturing all risks related to reserving and pricing and ensure a proper communication and handling of such risks.
  • Regulatory Reporting
  • Supervise the actuarial function in meeting regulatory deadlines, and the company’s technical SPOC to all actuarial related queries.
  • Engage with external partners to ensure adequate model is in place and replicate it for internal use and facilitate best practice
  • Improve reporting quality and ensure reconciliation of outputs across different reports submitted to different regulatory bodies.
  • Lead the function taskforce in newly established regulatory practices (i.e. IFRS17) and ensure the function readiness and adaptability
  • Data Management and enhancements
  • Design and implement solution for modelling and reporting challenges
  • Identify opportunities for standardization and improve efficiency through automation or process changes and lead department initiatives and data solution.
  • Improve the reporting strategy for better understanding, data handling and streamline data flow through utilization of SAS software.
  • Implement and maintain data and model governances.
  • Plan documentation plans for the function.
  • Ensure the update of company data ground and definitions.
  • Team Leadership
  • Cyclical KT sessions with actuarial to ensure knowledge transfer.
  • Increase the team knowledge through training
  • Increase level of governance among team members by introducing a “doer checker” practice.
  • Lead the succession plans by ensuring a proper shadow is covering for all reports.
  • Encourage the team to remain up to date with actuarial practices and liaise with management to develop relevant skills to actuarial practices.
  • Business Intelligence
  • Enhance/maintain current forecasting methods and develop methodologies to accommodate different business risks.
  • Monitor inflation/business trends (i.e. mix impact) and ensure alignment with operation finance.
  • Actuarial SPOC in all co-insurance and reinsurance treatments, which impact financial results.
  • Develop business intelligence tool to help the business thrive as a holistic progressive finance function. (i.e. Back-testing report, Shortfall reconciliation, reserving adequacy tests)
  • Flag potential inflation, data anomalies and other uncaptured risks through a standard business cycle.
  • Develop business intelligence analysis, and ensure extreme ownership to capture the full landscape of risks the company might be exposed to.
  • Product Development
  • Lead on the ideation process to come up with innovative, practical, and profitable products, and to price new products.
  • Ensure coherent controls of the risks in systems and processes for the implemented products.
  • Monitor closing the performance of the launched product.
  • Support medical underwriter in pricing and analysing new initiatives.
  • Support pricing team in pricing new benefit and assist the impact of new benefit initiatives the company or regulator might implement.
QUALIFICATIONS
  • Minimum Bachelor’s degree
  • A minimum of 5 years’ experience
  • Qualified (Fellow)
  • Industry experience.
  • Project management.
  • Agent of change to develop and nurture department capabilities.
  • Result oriented, efficient in meeting objectives.
  • Building good network with external and internal parties. Outstanding analytical & problem solving skills.
  • Strong verbal and written communication skills.
  • Extensive knowledge of statistical modelling techniques
  • Strong leadership skills