Actuary

About the Role

The Company is seeking an experienced Actuary to provide actuarial leadership across product development, pricing, reserving, risk management, and strategic decision-making. Reporting directly to the CEO, the successful candidate will play a critical role in supporting the company's financial strength, profitability, regulatory compliance, and long-term growth objectives within the Saudi health insurance market.

The role is open to all FIA qualified nationalities.

Key Responsibilities

Product Development & Pricing

• Lead actuarial support for the development of health insurance products.
• Design pricing methodologies and rating structures to ensure profitability.
• Evaluate product performance and recommend enhancements based on market analysis.

Actuarial Analysis & Reserving

• Conduct actuarial studies and technical assessments across the portfolio.
• Perform reserve valuations and monitor claims development trends.
• Ensure actuarial assumptions and methodologies remain robust and appropriate.

Risk Management & Reinsurance

• Support reinsurance strategy, programme design, and optimisation.
• Assess insurance and portfolio risks through quantitative modelling.
• Provide actuarial input into enterprise risk management initiatives.

Financial Performance & Profitability

• Conduct profitability testing and product feasibility assessments.
• Analyse key performance indicators and emerging business trends.
• Deliver recommendations to enhance underwriting and financial outcomes.

Strategic Planning & Business Advisory

• Act as a trusted advisor to the CEO and Executive Management Team.
• Support strategic initiatives aimed at increasing market share and growth.
• Provide actuarial insights to support business planning and decision-making.

Reporting & Stakeholder Management

• Prepare actuarial reports for Executive Management and Board Committees.
• Develop presentations, dashboards, and management information packs.
• Maintain effective relationships with external appointed actuaries and regulators.

Technical Leadership & Capability Development

• Develop actuarial models, tools, and methodologies to improve underwriting accuracy.
• Support the creation of technical training programmes for underwriting teams.
• Promote actuarial best practice and continuous improvement across the organisation.

Education & Qualifications

• Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics, Finance, or a related discipline.
• Fellow of an Actuarial Organisation that has an examinations based qualification
• Minimum 5+ years of actuarial experience within health insurance, or medical insurance
• Strong expertise in pricing, reserving, risk management, and profitability analysis.
• Experience working within GCC insurance markets is highly desirable.
• Advanced analytical, modelling, and data interpretation skills.
• Strong commercial awareness and strategic business acumen.
• Excellent stakeholder management and executive communication capabilities.