Position : Actuarial Analyst

Section : Governance and Control

Company : Al Koot Insurance & Reinsurance Company

Location : Doha, Qatar

Experience : 10 – 12 Years relevant experience

No of resources : 1

Contract Type : Permeant

Purpose: Responsible for providing ongoing technical and analytical support to Al Koot. Responsible for actuarial analysis used to develop pricing for new and existing products in line with management's and company’s objectives.

Initiate, organize and manage actuarial/underwriting projects independently and is responsible for the use of statistical models to analyse data and calculate the probability of and costs associated with certain events.

Job Specific Requirement:

Actuarial Strategy, Business Plans, Policies & Procedures

• Formulate and implement actuarial strategy, annual business plans, policies and procedures to support functional and organizational business strategy.
• Develop/prepare reports and assist in the development of new/revised policies.
• Interpret government regulations and internal policies.
• Assure periodical update for the trend of each market and periodical standard premium review in addition to new products pricing.
• Preparing the actuarial reports and complying with the other actuarial reporting obligations required by the law, instructions, and circulars.
• Real time exposure of IFRS 17 implementation

Actuarial Analysis

• Gather and prepare analysis based on information from internal and external sources.
• Apply knowledge of mathematics, probability, statistics, principles of finance and business to problems in insurance.
• Research functional issues using a variety of resources.
• Develop, maintain, audit and review functional databases and identifies inconsistencies.
• Prepare recommendations based on data summaries, trend analysis, financial analysis, and business analysis.
• Analyze data, construct probability tables to forecast risk and liability for future payment benefits.
• Ascertain premium rates and cash revenues to ensure payment of future benefits.
• Prepare and analyse ratings for new and renewing commercial groups.
• Provide underwriting analysis for pricing and risk assessment selections including financial, business, and trend analysis of data critical for decision making in achievement of business objectives
• Portfolio management through policies performance analysis and implementation of corrective measures

Essential Skills sets:

• Strong background in Risk Management
• Computer Skills
• Policies, Procedures & Work Methods Knowledge
• Costing & Budgeting Skills
• Communication Skills
• Planning & Organizing Skills
• Business Understanding Skills
• Report Writing & Drafting Skills

Qualification:

• Bachelors Degree in Finance or Risk Management.
• 10 – 12 years of experience in insurance business or enterprise risk management.
• Attendance on relevant functionally-related post-graduate programs covering such areas as risk management/loss control philosophy/theory, insurance management and strategic planning.
• Professional Insurance Qualification of the Chartered Insurance Institute is an advantage.
• Preferred to have professional qualification or certification in Risk Management