Senior Actuarial Assistant

Job description / Role

Job Summary:
To maintain excellence in providing actuarial & technical reporting support to all Family Takaful products and providing the necessary analysis to evaluate the quality of Takaful portfolios while upholding company standards, policies, procedures and authority limits.

Key Responsibilities:
Actuarial Tasks
1- Calculating mathematical reserves per each line of business on quarterly basis.
2- Assist in calculating technical reserves according to the regulatory requirement.
3- Support the developing & pricing of new family Takaful products & related IT system.
4- Preparing on quarterly basis reinsurance accounts for different lines of business
5- Preparing Complex Retirement quotations.
6- Following up on fund prices and performance of the investment portfolio.
7- Assist in calculating of Takaful fund surplus & distribution.
8- Participating in the renewal process of re-Takaful treaties and preparing all relevant statistics and reports.
9- Handling the compilation of data and production of reports for the life division
10- Preparing comparative studies on competitors’ products.
11- Calculating persistency performance per product line & distribution channel
12- Providing actuarial support to other division as requested.
13- Supporting regulatory requirements and audit & compliance missions.
14- Preparing different regulatory reports for audit purposes and other internal reports as needed.
15- Coaching and managing the performance of subordinates to ensure the effectiveness of their functions and their adherence to agreed service standards, policies, procedures, and authority limits.
16- Assisting the Actuarial Services Manager in technical analysis, modeling, profit testing and business planning.
17- Assessing the training needs of subordinates and coordinating with the Actuarial Services Manager to provide the needed trainings and other performance development initiatives.
18- Ensuring continuous self-development to keep up to date with the knowledge needed for effective performance.
19- Keeping up to date with the company’s standards, policies, procedures, service standards and authority limits needed for the implementation of responsibilities.
20- Supporting the department in any other task/project as needed.

Requirements

Job Qualifications:
- University degree in actuarial science.
- 2-3 years of actuarial work experience in multinational environment with operations, product development, pricing and reporting exposure.
- Actuarial certificates or higher degrees are an asset.
- Applicants who passed the CT series of Exams will be preferred.
- Good general knowledge of Takaful products.

Skills and Personal Qualifications:
- Excellent quantitative abilities.
- Accurate with strong attention to details.
- Strong problem solving abilities.
- Excellent communication and interpersonal skills with high customer service orientation and ability to communicate technical information to non-actuarial people.
- Good time management and follow up skills.
- Good coaching and planning skills.
- High teamwork orientation.
- Strong reporting skills.
- Highly motivated with an ability to handle work pressure and to meet tight deadlines.
- Keen on learning, self and employee development.
- Presentable.
- Excellent computer skills.
- Excellent written & spoken English

About the Company

Al Rajhi Takaful shares in the heritage of one of the leading business names in the Kingdom of Saudi Arabia, Al Rajhi.

Al Rajhi Takaful aims to provide competitive and relevant insurance services and solutions, which fully complying with “Shariah” principles, to meet the needs and aspirations of Individual & Corporate clients. With its Head Office located in Riyadh supporting three regional offices and some 25 branches we are planning the “roll out’ of a new distribution arm to bring our proposition even closer to our clients.