Actuary

Job Description

<p>Al Ain Ahlia Insurance Company is looking for an Actuary to provide actuarial and analytical support to</p><p>senior management and other key stakeholders within the company. The key areas of involvement shall</p><p>include but not limited to reserving, IFRS 17, regulatory reporting, supporting the risk management</p><p>function, pricing review and premium adequacy, monitoring solvency and reinsurance optimization.</p><p><br></p><p>Key Responsibilities :</p><p><br></p><p>1) Coordinate with the appointed actuaries in all the routine tasks including quarterly</p><p>reserving, pricing and underwriting review.</p><p>2) Ensure compliance with all the CBUAE requirements and regulations.</p><p>3) Compile reserving data and assist in all the aspects of IFRS 17 calculations and reporting.</p><p>4) Review and monitor IFRS 17 portfolio groupings and onerosity of group of contracts on</p><p>regular basis.</p><p>5) Assist the risk management team on regular basis and contribute to effective</p><p>implementation of all the CBUAE requirements in line with the latest Risk Management</p><p>and Internal Controls regulations and standards and other relevant instructions in a</p><p>timely basis.</p><p>6) Review and evaluate reinsurance arrangements in place to ensure adequacy and</p><p>perform reinsurance optimization as necessary.</p><p>7) Assist in the preparation of eforms and assist the finance department during external</p><p>audits responding to actuarial queries and clarification requests.</p><p>8) Assist the departments in new product designs and pricing.</p><p>9) Provide advice and support to underwriting departments in all actuarial aspects.</p><p>10) Prepare and analysis performance reports for the management and key stakeholders.</p><p>11) Analyse and monitor claims trend, underwriting performance and report to the</p><p>management on any potential risks and downside indicators.</p><p>12) Analyse and monitor investment, capital requirements, solvency position , conduct</p><p>stress testing and report to management on the prospective results and deficiencies on</p><p>regular basis.</p><p>Key Skills Required :</p><p><br></p><p>1)Analytical, reporting, modelling and interpretation skills.</p><p>2) Thorough understanding and knowledge of IFRS 17 and the reporting requirements.</p><p>3) Communication, interpersonal and problem solving skills.</p><p><br></p><p>Qualifications and Experience Required :</p><p><br></p><p>1) Minimum 5+ years experience in a senior actuarial role preferably in the UAE.</p><p>2)Bachelors degree in actuarial science or statistics.</p><p>3) Actuarial qualification or Part- Qualified and studying towards attaining full qualification.</p>