Actuarial Risk Specialist

Who Are we? Al Etihad Cooperative Insurance Company is a public joint-stock company established in the Kingdom of Saudi Arabia under a decision from the Council of Ministers and a royal decree as a cooperative insurance company. The company’s paid-up capital is 500 million Saudi Riyals. The company is an extension of United Insurance Company, which was founded in the Kingdom of Bahrain in 1983 as a foreign company to conduct insurance operations in Saudi Arabia. In 2008, the company was listed for public subscription and was registered in the Saudi Stock Exchange (Tadawul) under the symbol 8170. The company is subject to the supervision and regulation of the Saudi Insurance Authority and is licensed to operate in all types of insurance, including general insurance, medical insurance, motor insurance, and protection & savings insurance. The company’s experience and commitment to serving its customers have made United one of the pioneers in the insurance industry in the Kingdom. The company also has a wide network of offices and regional outlets to ensure proximity to its customers across the Kingdom. Additionally, the company has a dedicated team that strives to deliver the highest level of service to its clients. Job Title: Actuarial Risk Specialist Qualifications and Requirements: • Bachelor's degree in actuarial science or a related field. • Minimum 3 years of relevant experience in actuarial, risk management, or the insurance industry. • Strong analytical and problem-solving skills. • Excellent communication and interpersonal skills. • Proficiency in Microsoft Excel and other data analysis tools. • Fluency in both Arabic and English. 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 that support risk assessment and informed 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 closely with the 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 and contribute to the development and continuous improvement of risk management policies, procedures, and methodologies.

Bachelor's degree in actuarial science or a related field. Minimum 3 years of relevant experience in actuarial, risk management, or the insurance industry. Strong analytical and problem-solving skills. Excellent communication and interpersonal skills. Proficiency in Microsoft Excel and other data analysis tools. Fluency in both Arabic and English.

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 that support risk assessment and informed 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 closely with the 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 and contribute to the development and continuous improvement of risk management policies, procedures, and methodologies.