Actuarial Risk Specialist

About Al Etihad Cooperative Insurance Company

Al Etihad Cooperative Insurance Company is a public joint-stock company operating in the Kingdom of Saudi Arabia, with a paid-up capital of 500 million Saudi Riyals. Established as an extension of United Insurance Company, founded in Bahrain in 1983, Al Etihad was listed on the Saudi Stock Exchange (Tadawul) in 2008 under the symbol 8170. The company is regulated by the Saudi Insurance Authority and licensed to offer various insurance types, including general, medical, motor, and protection & savings insurance. With a wide network of offices and regional outlets across the Kingdom, Al Etihad is recognized for its extensive experience and commitment to customer service within the Saudi insurance industry.

The Actuarial Risk Specialist Role

Al Etihad Cooperative Insurance Company is seeking an Actuarial Risk Specialist to join its team in Al Khobar, Eastern Region. This full-time position requires 2-5 years of experience and focuses on identifying, assessing, and monitoring actuarial risks to support informed decision-making and enhance the company's risk management framework.

Key Responsibilities

• Identify, assess, and monitor actuarial risks related to pricing, technical reserves, insurance portfolios, and actuarial assumptions.
• Analyze claims, premium, and insurance portfolio data to generate statistical insights for risk assessment and decision-making.
• Support the implementation and enhancement of the Enterprise Risk Management (ERM) framework, including monitoring actuarial risks through the Risk Register and Key Risk Indicators (KRIs).
• Contribute to the preparation and analysis of Risk-Based Capital (RBC) requirements, stress testing, and scenario analysis.
• Review and evaluate actuarial function outputs from a risk management perspective, assessing their impact on capital adequacy, solvency, and profitability.
• Validate the quality and integrity of data used in actuarial and risk analyses, coordinating with relevant departments to resolve identified issues.
• Prepare periodic reports, dashboards, and presentations related to actuarial risk management.
• Participate in the execution and monitoring of strategic projects and initiatives related to enterprise risk management.
• Collaborate with Actuarial, Finance, Underwriting, Claims, Compliance, and other relevant departments to ensure an integrated approach to risk management.
• Monitor regulatory requirements issued by the Insurance Authority and applicable professional standards, contributing to the development and continuous improvement of risk management policies, procedures, and methodologies.

Required Experience

• Candidates should possess 2-5 years of relevant experience in actuarial risk management or a related field.

Work Type and Location

This is a full-time position based in Al Khobar, Eastern Region.