Actuarial Analyst

Job Overview:

This role is conducted within the vision, mission, and strategic plan of the Insurance Authority. The Actuarial Analyst safeguards the integrity of the company’s loss reserves by supplying robust quantitative analysis and data-driven insight to the Reserving function. Reporting to the Director of Reserving, this role will prepare, validate, and model complex claims and exposure data sets that underpin statutory, management, and audit-facing reserve valuations. By operating approved deterministic and stochastic frameworks and automating core workflows, the position enhances reserving accuracy, transparency, and process efficiency while upholding rigorous governance standards. The role's analytical deliverables inform capital planning, reinsurance strategy, and regulatory submissions, thereby supporting senior leadership in optimizing profitability, solvency, and stakeholder confidence.

Responsibilities and Tasks:

• Compile and cleanse loss triangles, exposure statistics, and premium earnings schedules to feed into the quarterly and year-end reserving process.
• Execute predefined stochastic and deterministic reserving models (e.g., Chain Ladder, Bornhuetter-Ferguson) under guidance, ensuring all key assumptions are captured and approved.
• Calculate reserve indications for assigned lines of business and reconcile movements against prior valuations, escalating unusual trends to the Director of Reserving.
• Extract large data sets from policy administration and claims systems, validate completeness and accuracy, and load them into actuarial data warehouses using approved SQL or Python scripts.
• Maintain model input templates, parameter libraries, and version control logs so that results remain reproducible and auditable.
• Assist in automating repetitive reserving workflows by developing basic dashboards, macros, or scripts that improve process efficiency.
• Prepare reserve roll-forward exhibits, regulatory forms, and management summaries that clearly articulate drivers of reserve change.
• Draft technical documentation and working papers that meet internal audit and external audit standards, ensuring all assumptions, methods, and judgments are transparently recorded.
• Support the production of actuarial sections in financial statements, ORSA, and Solvency II QRTs by delivering timely, accurate schedules., Follow the Reserving department’s governance framework, peer-review protocols, and model validation checklists to ensure full compliance with internal policies and external regulations.
• Monitor data quality metrics and contribute to root-cause analyses that address recurring data issues and control gaps.
• Participate in periodic process-improvement workshops, providing analytical insight that helps refine reserving methodologies and documentation standards.
• Collaborate with Underwriting, Claims, and Finance colleagues to understand portfolio developments that impact reserving assumptions and to validate data at source.
• Pursue actuarial exams and continuous-learning objectives, sharing newly acquired knowledge with peers to strengthen team capability.
• Perform other job duties as assigned.

Competencies required:

Core competencies

• Ethics & Integrity (Beginner)
• Effective Communication (Beginner)
• Collaboration & Horizontality (Beginner)
• Personal Competence (Beginner)
• Analysis and Problem Solving (Beginner)

Technical competencies

• Claims Reserving Analysis (Beginner)
• Reserving Policy Assessment (Beginner)
• Reserve Variability & Sensitivity Testing (Beginner)
• Discounting & Inflation Assumption Analysis (Beginner)
• Reserve Governance Review (Beginner)

Job requirements:

Educational Qualifications (required)

• Bachelor’s Degree in Law, Insurance, Business Administration, Finance, or a related field
• Master’s degree preferred

Certifications (required)

• Relevant Professional Certificate is preferred

Experience

• A Bachelor’s degree is required.

Language

(A1-A2: Basic, B1-B2: Intermediate, C1-C2: Fluent)

• English (C1), Arabic (C2)