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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
Preferred Candidate
Bupa Arabia
Bupa Arabia is a healthcare insurance company based in the Kingdom of Saudi Arabia. We are an associate business of Bupa Group, which is a global healthcare company with an international reach that extends across multiple business operations, practices, and resources.
Founded in October 1997, Bupa Arabia was initially established through a partnership between Bupa Global International and Nazer Group, with the key focus to provide health insurance services with high quality and competitive prices, while ensuring a distinctive experience for customers. Bupa Arabia has since evolved into a fully Saudi-owned and operated company. Our transformation from a joint venture into a publicly traded company on the Saudi Stock Exchange occurred in 2008, as we made 40% of our shares available to the public during our Initial Public Offering (IPO).
As a subsidiary of the global Bupa Group, we draw upon international expertise while maintaining a profound understanding of local healthcare requirements and regulations. This allows us to offer comprehensive healthcare insurance solutions tailored to the unique needs of the Saudi Arabian market.
Bupa Arabia prides itself on its commitment to the wellbeing and development of its employees, providing them with the same standard of care, support, and professionalism that it expects to be delivered to its customers.
Our core values shape every aspect of our work and culture:
Commit – Own it with accountability and urgency.
Collaborate – Win together through cross-functional synergy.
Care – Put people first, both employees and customers.