Actuarial Manager

27 سبتمبر، 2022

0 4 3 دقائق

Actuarial Manager

الوصف الوظيفي

Long Description

Actuary & Portfolio Management:
Delivers timely and accurate actuarial data and analysis to support decision-making. Certifies external data requests for customers or regulators as necessary.
Works with IT to ensure that analytical data sources (claim, eligibility, etc.) are available and accurate
Analyze of corporate loss and loss expense reserves on a quarterly basis. Resulting analysis and direction are presented quarterly. Communicates reserve analysis and direction to the Board of Directors.
Provides actuarial support for product development and design, provider contracting and analysis, and other areas as necessary.

Pricing and Underwriting:
Elaborate a multiplicative GLM rating structure or other pricing tool with quarterly updates to ensure optimal market price capturing the most recent claims ultimate trends as well competitors pricing strategies.
Assist in the assessment of the underwriting processes and systems and identify improvement opportunities in coordination with Head of Underwriting department.
Elaborate a set of robust management information reports, monitor the profitability of products on regular basis and manage to achieve desired loss ratio.
Plan product developments to improve the attractiveness of products in the market. Ensure all services and products are in accordance with established policies and procedures.

Technical provisions calculation – Reserving:
Ensure appropriate methods and models are used in the calculation of technical provisions.
Improve on the technical reserve development models currently in use.
Compare best estimates against actual experience. AvE analysis.
Ensure that actuarial policies, processes, and procedures meet the Company’s requirements.
Develop systems and management information to support and improve business decision making.
Coordinate, manage and report results of actuarial analyses for key stakeholders both internal and external to Actuarial.
Oversee and manage the data and the application systems required to support the reserving function, ensuring the data is accurately and consistently captured.
Add value to the business by ensuring that the reserve analyses are segmented to mirror the business, reflect changes in underwriting strategies and appetites and provide the appropriate level of detail to identify key trends and macroeconomic factors that are impacting the business.

Job Summary

Ensure appropriate methods and models are used in the calculation of technical provisions & Improve on the technical reserve development models currently in use & compare best estimates against actual experience. AvE analysis % Ensuring compliance with the local regulatory requirements and liaising with external independent Actuaries, assist in creating a high performing work environment for the business.

Job Responsibilities

Other Actuarial Key responsibilities:
Provide Actuarial support to other departments if necessary.
Ensuring compliance with the local regulatory requirements and liaising with external independent Actuaries.
Maintaining and amending as necessary the internal capital model of the company. Update parameters and assumptions feeding into the capital model. Liaising with underwriting, claims and reinsurance department in setting assumptions.
Coordination with Finance department for Budgeting and Planning.
Coordination with Claims team to quantify the impact of initiatives and specific IBNR areas
Perform treaty renewals analysis and make the required amendments on treaty’s terms & conditions based on the results including performing mortality studies

Administration Process
Implement the concerned policies & procedures and the technology solutions to deliver those to improve department records / data management and ensure it is maintained in standards for audit.

Team Leadership
Monitor subordinates team performance and support the company general management with respect to related policies and procedures.
Familiarize the team with the customer needs, specifications, design targets, the development process, design standards, techniques, and tools to support task performance.
Assure that the team members have the necessary education and training to effectively participate on the team
Create an environment oriented to trust, open communication, creative thinking, and cohesive team effort
Listen to team members’ feedback and resolve any issues or conflicts and delegate tasks and set deadlines

Employee Relation:
Ensure maintaining disciplined and motivated work climate across the assigned team.
Respond to internal & external employee related queries, requests, issues and provide assistance.
Ensure the smooth and adequate flow of information within the company to facilitate business operations.
Assist in creating a high performing work environment for the business.

Candidate Requirements

Bachelor’s degree from an accredited college/university with a strong academic background in mathematics, statistics or actuarial science and insurance.
Degree holder with reasonable progress in actuarial professional qualification.
Minimum of 5 years work experience.
Highly proficient in the details of applicable technical tools and maintains skills through direct participation in projects.
Ability to lead a process and be accountable for its execution, timeline, and deliverables.
Strong ability to lead, coach, and mentor staff.
Excellent technical expertise gained from working as an Actuary.
Knowledge of the Insurance industry.
Ability to create spreadsheets and utilize various computer applications.

Education

Bachelor’s Degree in Science or Business Administration