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Jeddah , Saudi Arabia
Posted 2021/11/21 12:14:53
Expires 2021-12-21
Ref: JB4456018
Job Description
The Senior Manager – Actuary is a Qualified Actuary to lead on reserving, solvency, IFRS17, and all actuarial regulatory requirements, as well as product development and innovation.
Management Reporting
- Lead the development of all month-end reporting accurately including Net billed Summary, ensuring adequacy of Technical reserves and office rates.
- Set various distinguished actuarial methodologies and performing necessary actuarial analysis and ensure proper documentation is in place.
- Develop and enhance existing technical models to valuate expected reserves and ensure submit in accordance with regulatory presentation.
- Lead the function in capturing all risks related to reserving and pricing and ensure a proper communication and handling of such risks.
Regulatory Reporting
- Supervise the actuarial function in meeting regulatory deadlines, and Bupa’s technical SPOC to all actuarial related queries.
- Engage with external partners to ensure adequate model is in place and replicate it for internal use and facilitate best practice
- Improve reporting quality and ensure reconciliation of outputs across different reports submitted to different regulatory bodies.
- Lead the function taskforce in newly established regulatory practices (i.e. IFRS17) and ensure the function readiness and adaptability.
Data Management and enhancements
- Design and implement solution for modelling and reporting challenges
- Identify opportunities for standardization and improve efficiency through automation or process changes and lead department initiatives and data solution.
- Improve the reporting strategy for better understanding, data handling and streamline data flow through utilization of SAS software.
- Implement and maintain data and model governances.
- Plan documentation plans for the function.
- Ensure the update of Bupa data ground and definitions.
Team Leadership
- Cyclical KT sessions with actuarial to ensure knowledge transfer.
- Increase the team knowledge through training
- Increase level of governance among team members by introducing a “doer checker” practice.
- Lead the succession plans by ensuring a proper shadow is covering for all reports.
- Encourage the team to remain up to date with actuarial practices and liaise with management to develop relevant skills to actuarial practices.
Business Intelligence
- Enhance/maintain current forecasting methods and develop methodologies to accommodate different business risks.
- Monitor inflation/business trends (i.e. mix impact) and ensure alignment with operation finance.
- Actuarial SPOC in all co-insurance and reinsurance treatments, which impact financial results.
- Develop business intelligence tool to help the business thrive as a holistic progressive finance function. (i.e. Back-testing report, Shortfall reconciliation, reserving adequacy tests)
- Flag potential inflation, data anomalies and other uncaptured risks through a standard business cycle.
- Develop business intelligence analysis, and ensure extreme ownership to capture the full landscape of risks the company might be exposed to.
Product Development
- Lead on the ideation process to come up with innovative, practical, and profitable products, and to price new products.
- Ensure coherent controls of the risks in systems and processes for the implemented products.
- Monitor closing the performance of the launched product.
- Support medical underwriter in pricing and analysing new initiatives.
- Support pricing team in pricing new benefit and assist the impact of new benefit initiatives the company or regulator might implement.
Skills
Education
- Minimum Bachelor’s degree
Years of Experience
- A minimum of 5 years’ experience
Skills Required (Technical/Managerial)
- Qualified (Fellow)
- Industry experience.
- Project management.
- Agent of change to develop and nurture department capabilities.
- Result oriented, efficient in meeting objectives.
- Building good network with external and internal parties. Outstanding analytical & problem solving skills.
- Strong verbal and written communication skills.
- Extensive knowledge of statistical modelling techniques
- Strong leadership skills
Job Details
Job Location
Jeddah , Saudi Arabia
Job Role
Accounting/Banking/Finance
Employment Status
Full time
Employment Type
Employee
Number of Vacancies
1
Preferred Candidate
Career Level / Band
Mid Career
Years of Experience
Min: 5
Minimum Degree
Bachelor's degree