Actuarial Analyst

Consulture Search Limited; Muscat; On-site; OMR 18,000 - 24,000; Full time

Job summary

Consulture Search Limited in Oman is seeking an experienced Actuarial Analyst to evaluate policies, model risk, and support IFRS 17 reporting. You will analyse data, monitor pricing, and collaborate with underwriters to communicate findings and recommendations.

The role requires strong analytical and mathematical skills, excellent written and spoken communication, and a minimum of five years in actuarial analysis within the insurance sector. A related degree is essential.

Qualifications

• Degree in related field (business, economics, actuarial science, statistics).
• Minimum 5 years of actuarial analysis experience in insurance.
• Knowledge of IFRS 17 reporting and regulatory reporting.

Responsibilities

• Review policies and procedures for current applicability.
• Analyze data and model risk using statistical methods.
• Monitor pricing and profitability testing for product implementation.
• Research industry trends for potential new products.
• Create financial projections and budgeting for insurance/reinsurance.
• Explain technical analyses to underwriters and stakeholders.
• Support IFRS 17 and regulatory reporting for accounting.
• Assist budgeting with projections and variance analysis.
• Collaborate with IT on testing new insurance systems and data needs.

Skills

Analytical skills

Communication skills

Problem solving

Ethical standards

Ownership mindset

Education

Degree in related field

Job description

About the Role

The Actuarial Analyst role is responsible to evaluate existing policies, analyse data, model risk, monitor product pricing, conduct industry research, create financial projections, collaborate with underwriters, explain complex concepts, and support departments in insurance-related tasks.

Key Responsibilities:-

1. Review existing policies and procedures to determine if they are still applicable to current circumstances.
2. Analyz data and model risk by employing mathematical and statistical methods to evaluate potential threats and provide advice for managerial decisions.
3. Monitor product pricing and profit testing in support of the product implementation process.
4. Perform research into new trends in the insurance industry to identify areas where new products may be needed.
5. Create financial projections and budgeting for insurance and reinsurance business.
6. Work closely with underwriters to explain technical analysis and communicate findings and recommendations.
7. Explain complex mathematical and statistical concepts used for reporting insurance contracts profitability.
8. Support the accounting department in all aspects related to IFRS 17 reporting and regulatory reporting.
9. Support budgeting department in providing technical insurance projection and variance analysis.
10. Support IT department in testing new insurance systems and generating required data.

Education:

Degree in related field (business, economics, actuarial science, statistics)

Experience:

At least 5 years' experience in actuarial analysis for insurance industry

Special Skills & Knowledge:

• Knowledge of IRS 17 reporting standard requirements
• Excellent communication skills, including the ability to break down and communicate complex and technical information.
• problem-solving skills
• high level of analytical and mathematical skills
• Software and data analysisskills
• Good writing skills
• Can-do attitude and the ability to take ownership of projects.
• High ethical standards
• Commitment to complete studies and upgrade skills