Actuarial Analyst

**Role Objective**

Responsible for providing ongoing technical and analytical support to the organization.

Responsible for actuarial analysis used to develop pricing for new and existing products in line with management's and company’s objectives.

Initiate, organize and manage actuarial/underwriting projects independently and is responsible for the use of statistical models to analyse data and calculate the probability of and costs associated with certain events.

The purpose of the actuarial function is to advise on, monitor, investigate and report on the setting of the organization’s premiums or prices, that significantly affect:
(a) The organization’s ability to meet its liabilities to policyholders;
(b) Its capital requirements and solvency position; and

(c) Its technical provisions.

**Key Accountabilities**

**Actuarial Strategy, Business Plans, Policies & Procedures**
- Formulate and implement actuarial strategy, annual business plans, policies and procedures to support functional and organizational business strategy.
- Develop/prepare reports and assist in the development of new/revised policies.
- Interpret government regulations and internal policies.
- Assure periodical update for the trend of each market and periodical standard premium review in addition to new products pricing.
- Preparing the actuarial reports and complying with the other actuarial reporting obligations required by the law, instructions, and circulars.
**Actuarial Analysis**
- Gather and prepare analysis based on information from internal and external sources.
- Research functional issues using a variety of resources.
- Develop, maintain, audit and review functional databases and identifies inconsistencies.
- Prepare recommendations based on data summaries, trend analysis, financial analysis, and business analysis.
- Analyze data, construct probability tables to forecast risk and liability for future payment benefits.
- Ascertain premium rates and cash revenues to ensure payment of future benefits.
- Prepare and analyse ratings for new and renewing commercial groups.
- Provide underwriting analysis for pricing and risk assessment selections including financial, business, and trend analysis of data critical for decision making in achievement of business objectives
- Portfolio management through policies performance analysis and implementation of corrective measures.
- Close support for treaty underwriters in any treaty pricing; actuarial assessment of actuarial reports (rates validation: ex. SAMA), detailed portfolio pricing, planning figures settings.

**Systems, Models & Processes**
- Participates in cross-functional teams to develop new/enhanced systems/processes/programs/policies to support business needs.
- Perform other duties that may be assigned from time to time.
- Build AXIS pricing models.
- Develop working knowledge of the administration and illustration systems.

**Job Types**: Full-time, Permanent