Riyadh, KSA

About the Company

A leading Insurance Company is looking for an experienced Senior Actuarial Professional to support the CFO in developing strategic financial plans and head their Actuarial team in Riyadh, KSA.

About the Role

Strategic Contribution:

  • Contribute to the development and refinement of the company’s overall strategy and ensure that financial strategic plans are developed and implemented in line with the company’s vision, mission and corporate objectives.
  • Ensure that the strategy is translated into operational business plans for the actuarial units and monitor the performance and execution of those plans in order to achieve functional objectives and deliver the company’s strategy.


  • Oversee detailed analysis on the pricing practices of under-writing department in order to ensure that current prices do not affect future balance in an effort to mitigate exposure to financial risk.
  • Direct the analysis of past data, patterns, trends, etc. and other relevant information in order to provide an accurate reserve forecast for incurred but not reported claims.
  • Lead the development of reserving models/ plans to allow for the anticipation of potential reserve issues – maintain and test these contingency plans and other management responses to red flags.
  • Lead the formulation of effective pricing strategies and provide advice to the CFO, in close coordination with Under-Writing team to gain a competitive edge in the market that will result in better overall revenues, margins, and market share while mitigating exposure to financial risk.
  • Monitor performance of existing pricing plans and evaluate for improvements to ensure alignment between the under-writing and finance departments.
  • Collaborate with the under-writing department to provide input to profitability modelling, understand the historical trends, market dynamics and profitable opportunity to aid decision making.
  • Direct the data mining and analysis process by leveraging all available information, data, tools, and systems to provide meaningful inputs and insights to the CFO on trends and patterns in order to facilitate financial decision making.
  • Lead the management of change through a fundamental re-assessment of current pricing practices taking into account international leading practices and changes in the business environment in order to create step change differences in the efficiency and effectiveness of new approaches

People Management:

  • Coordinate the activities of the department to ensure that all work is carried out in an efficient manner, in line with the annual business plans, policies and procedures.
  • Conduct effective resource planning of the actuarial function in order to maximize the productivity of resources.
  • Lead the development of a culture that enables employees to perform in accordance to company objectives to ensure a performance-based and customer-oriented culture among all departments.
  • Define employees’ training and developmental needs and bridge the knowledge gaps to ensure continuous progression and high-level of competence within the team.

Continuous Improvement:

  • Evaluate the operational infrastructure and management plans for continuous improvement of the efficiency and effectiveness of company’s motor vendor portfolio.

Policies, Systems, Processes & Procedures:

  • Responsible for defining and driving the changes necessary to develop pricing/reserving plans by ensuring the effective development,  communication and implementation of an integrated, coherent and leading-edge set of pricing practices, policies and processes across all aspects of the business.
  • Ensure compliance with corporate requirements on adherence to policies, procedures and instructions within actuarial area related to all relevant regulatory directives to promote a safe and risk-free environment.


  • Direct the formulation of actuarial reports (pricing/reserving) and submit to the CFO/ HMC in order to facilitate strategic planning.
  • Ensure that all relevant periodic and ad-hoc reports are prepared timely and accurately, and meet the Finance department requirements, policies and standards.

About the Individual

  • 15+ years of related experience
  • Must have experience in insurance
  • Bachelor’s degree in Finance, Accounting or other related fields
  • Master’s Degree in Management or other related fields, preferred
  • Languages – English: Proficient & Arabic: Working knowledge
  • Certified FIA or equivalent
  • Expert-level knowledge of insurance sector
  • Expert-level IT proficiency and system (Oracle finance, ERP, ESKA, Penta)
  • Expert-level in reserving/pricing strategies
  • Expert-level financial understanding and reporting (GAAP – IFRS)
  • Intermediate-level knoweldge of Shariah Law and Regulatory Standards (SAMA)


Excellent Salary commensurate with Candidates’ experience


An excellent bonus scheme and other benefits


Akshaya Ananth

Recruitment Associate

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