Reserving Senior Specialist/Reserving Actuary📣 Job Ad

About the Opportunity

Al Etihad Cooperative Insurance Co is seeking a dedicated Reserving Senior Specialist/Reserving Actuary to join our team in Al Khobar, Eastern Region. This full-time role is central to ensuring the accuracy and reliability of our actuarial reserves, contributing to the company's financial stability and strategic planning. The position requires a professional with a minimum of five years of specialized experience in actuarial functions within the insurance sector.

About Al Etihad Cooperative Insurance Co

Al Etihad Cooperative Insurance Company is a public joint-stock company established in the Kingdom of Saudi Arabia, operating under the supervision and regulation of the Saudi Insurance Authority. With a paid-up capital of 500 million Saudi Riyals, the company is licensed to conduct operations across all types of insurance, including general, medical, motor, and protection & savings. Listed on the Saudi Stock Exchange (Tadawul) under symbol 8170 since 2008, Al Etihad has grown from its roots as an extension of United Insurance Company, founded in Bahrain in 1983, to become a pioneer in the Saudi insurance industry, known for its commitment to customers and extensive network across the Kingdom.

Key Responsibilities

• Validate the methodology and assumptions of reserves set by the Appointed Actuary, providing recommendations for necessary changes.
• Enhance the existing internal Reserving model to improve its accuracy and reliability.
• Develop structured and automated methods for capturing and storing Reserving input and output data.
• Manage and coach a junior member of staff who will support in fulfilling Reserving duties.
• Collaborate with the Pricing subteam to integrate Reserving implications into technical prices and portfolio monitoring.
• Present the outcomes of Reserving analysis to senior management.
• Perform any other duties assigned by the direct manager within the scope of the job.

Qualifications and Requirements

• Minimum of five years of actuarial experience specifically within a Property and Casualty (P&C) insurance company.
• Associate or Fellow designation from a recognized actuarial professional body.

Role Impact and Collaboration

This role offers the opportunity to significantly impact the company's financial integrity through rigorous reserving analysis and model enhancement. The successful candidate will work closely with the Appointed Actuary, collaborate with the Pricing subteam, and present critical insights to senior management. Furthermore, the position involves mentoring a junior team member, fostering professional growth within the actuarial department.

Application Process

Candidates who meet the specified qualifications are invited to apply for this full-time position. We look forward to reviewing your application.