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Senior Manager – Actuarial & Risk

Arab Insurance Group

Posted on June 10, 2019

5 - 6 years Manama - Bahrain

Bachelor of Arts(Maths). Any Nationality

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Job Description

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Responsible for independently identifying, analyzing and mitigating significant risks faced by the Company.


Coordinating all core ERM activities and reporting directly to the General Management/Board, as required under CRAS and ERM Framework. Overseeing the ERM process from the data collection stage to ultimately its use in modelling and business decisions. Periodic staff training and assisting with completion of key risk metrics/documents and loading BP/Capital Modelling with risks, where applicable. Maintenance and revision of Arig’s Risk Registers, CRAS, ERM Framework etc.
Ongoing Reserving assistance including data processing, querying and validation. APH/LL etc. extraction and reconciliation. ResQ imports, mappings, classifications and initial claims/premiums modelling and projections. Assisting consultants/underwriters with result review (particularly territory-level modelling) and addressing queries/issues on an ongoing basis. Providing reserving level/adequacy guidance within the Board’s stated appetite. Translating results (with TW input) in UW Risk and Reserve risk input within capital model.
Updating and overseeing actuarial Business Planning sheets used to allocate reserving results to various business units and add rating/inflation factors to help underwriters build on their respective business performance. Subsequently carry out actual vs. expected analyses and forecasts to help management and Board make risk/profitability decisions.
Coordinating and assisting with Capital Modelling exercise. Sourcing, processing and reconciling all root-end modelling data. Answering internal and external queries and troubleshooting. Dealing with all modelling queries and provision of data/modelling support to actuaries at TW. Ensuring models outputs tie in with plans and Board’s risk appetite for individual risk groups (Market, UW etc.)
Carrying out other performance/risk initiatives at Arig, including (but not limited to): Business Intelligence (data, report streamlining and implementation), Retrocession support, Capital Allocation, Board and Rating Agency deliverables, any FCR deliverables, ad-hoc data/claims investigations, interim reserving projects.
As signing actuary, independently assess the Financial Condition of the Company in line with guidelines set out by the Central Bank of Bahrain. This includes analyzing and reporting on the Company’s financial strength and risk culture.
Assessment of all the company’s insurance/reinsurance related liabilities, including an explanation of any assumptions used in the valuation process. As part of this, data adequacy and quality must be appropriately checked in line with Technical Actuarial Standards.
Assessment of current and future capital adequacy of the company, including the approach to capital management. This includes analysis of the suitability of retrocession arrangements.


5+ years of relevant reserving/modelling/ERM and analytical/data mining experience.
A Bachelors (or higher) in a highly numerate degree (e.g. Actuarial Science, Maths, Statistics) and full certification from a recognized actuarial body (e.g. Faculty and Institute of Actuaries UK).


Accounts / Taxation / Audit / Company Secretary


Senior Manager – Actuarial & Risk

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