Actuarial Analyst – KSA Required in Saudi Arabia

The Actuarial Analyst is responsible for analyzing and interpreting complex financial data to assess risk and forecast future financial outcomes, particularly in the insurance and finance sectors. This role requires a strong understanding of mathematical, statistical, and financial principles to support the development of risk management strategies, pricing models, and financial forecasts. The Actuarial Analyst will work closely with actuarial and finance teams to support accurate data modeling, perform thorough risk assessments, and provide insights that support strategic decision-making. This role is critical to ensuring the financial stability and profitability of the organization.

Key Responsibilities

1. Data Analysis and Risk Assessment
   The Actuarial Analyst performs detailed data analysis to assess and quantify risk, utilizing statistical and financial models to interpret large datasets. This includes analyzing trends, evaluating risk exposure, and creating data models to predict future outcomes. By identifying risk patterns and calculating probabilities, the Actuarial Analyst helps the organization make informed decisions and optimize risk management strategies.
2. Development of Actuarial Models
   A primary responsibility of this role is developing and maintaining actuarial models that support the organization’s financial planning and insurance pricing strategies. This involves using statistical software and actuarial methods to build models that predict outcomes, assess claims, and set pricing for insurance products. Accurate modeling helps ensure the organization’s offerings are competitive while also financially sustainable.
3. Financial Forecasting and Reporting
   The Actuarial Analyst prepares financial forecasts and generates reports that provide insights into future profitability, financial risks, and potential liabilities. This includes analyzing key metrics, comparing projected and actual performance, and creating clear reports for internal stakeholders. Through precise forecasting and reporting, the Actuarial Analyst supports the organization’s long-term financial strategy and budgeting efforts.
4. Regulatory Compliance and Documentation
   This role includes ensuring that actuarial practices comply with local regulations and industry standards, particularly those set by the Saudi Arabian Monetary Authority (SAMA). The Actuarial Analyst prepares and maintains documentation for audits, actuarial reviews, and regulatory reporting, ensuring all data and methodologies meet compliance requirements. This promotes transparency and protects the organization from regulatory risks.
5. Cross-Functional Collaboration and Support
   The Actuarial Analyst collaborates with finance, underwriting, and product development teams to align actuarial insights with broader organizational objectives. This includes offering actuarial guidance on product pricing, financial reserving, and risk mitigation strategies. By working closely with various teams, the Actuarial Analyst helps ensure cohesive financial planning and product alignment with market needs.

Qualifications and Skills

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, or a related field
• Relevant experience in actuarial analysis or financial modeling (experience in insurance is preferred)
• Proficiency in actuarial software (e.g., Prophet, SAS, R, or Python) and data analysis tools
• Strong understanding of statistical methods, financial analysis, and risk assessment
• Familiarity with SAMA regulations and actuarial standards in KSA is a plus
• Excellent analytical, problem-solving, and numerical skills
• Strong attention to detail and ability to manage large datasets
• Effective communication skills to present complex data and insights to non-technical stakeholders
• Actuarial certification or progress toward a recognized qualification (such as SOA, FIA) is preferred

This role offers the opportunity to contribute to risk management and financial planning within the organization, supporting informed decision-making and ensuring financial resilience in a dynamic market environment.

How to apply:

Send your updated resume to our email or directly reach us at our phone:

Email:   uae-sales@cignahealthcare.com,  METalent@cignahealthcare.com,  menacommunications@cignahealthcare.com

Phone:  +966 115128877