Actuarial Analyst KSA

Cigna; Riyadh; On-site; SAR 150,000 - 200,000; Full time

Job summary

A global health insurer is seeking an Actuarial Associate Analyst for their Riyadh office. Responsibilities include data analytics, actuarial pricing, and collaboration with various business teams. Candidates should have a degree in Actuarial Science or related fields and not more than 3 years of experience. Progress towards actuarial credentials is preferred, alongside good communication skills. This role offers a great opportunity to contribute to the growing actuarial function in Saudi Arabia.

Qualifications

• Some progress towards Associate credentials with Institute and Faculty of Actuaries or Society of Actuaries.
• A commitment towards pursuing a Fellowship qualification.
• Not more than 3 years of work experience.

Responsibilities

• Conduct data analytics, reconciliations, and processing.
• Perform actuarial pricing for the Middle East and Africa region.
• Support analytics related to medical cost drivers and trends.

Skills

Data analytics

Communication skills

Attention to detail

Education

Undergraduate degree in Actuarial Science, Mathematics, Finance

Tools

MS Office

Data analytics (R, SQL, Alteryx)

Job description

Overview

The job profile for this position is Actuarial Associate Analyst, which is a Band 2 Senior Contributor Career Track Role.

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Job Description: Actuarial Associate Analyst

Cigna Saudi Arabia, a branch of Cigna Worldwide Insurance Company, a leading global health insurer, is looking to appoint an Actuarial Analyst based in Riyadh. This is a new position required as the local office develops its actuarial function. While the main area of focus will be the KSA market, the successful candidate will work closely with the broader Middle East and Africa actuarial team and will support initiatives across these markets. The individual will also work closely with other business areas, including but not limited to Sales, Underwriting, and Product Development.

Key Responsibilities

• Data analytics, reconciliations, and processing.
• Actuarial pricing for the Middle East and Africa region, including experience studies, setting book rates and pricing assumptions, methodology updates, and rate reviews.
• Support analytics related to medical cost drivers and trends to enhance quality of actuarial analysis and reporting.
• Developing, testing and maintenance of pricing and underwriting tools.
• Support the monthly financial close, including supporting the reserving process, periodic review of key reserve assumptions, and communicating drivers of financial results relative to forecast.
• Supporting the compilation of regulatory submissions.
• Close collaboration with other teams including Sales, Client Management, Underwriting and Finance.

Personal Profile

• An undergraduate degree in Actuarial Science, Mathematics, Finance or a related field.
• Some progress towards Associate credentials with either the Institute and Faculty of Actuaries or the Society of Actuaries.
• A commitment towards pursuing a Fellowship qualification.
• Be self-motivated and results driven.
• Good communication skills and strong attention to detail.
• Not more than 3 years of work experience.
• A working knowledge of health insurance and related concepts, including clinical coding, reserving methods, pricing approaches etc, is not required but would an advantage.
• Experience with MS Office and data analytics (R, SQL, Alteryx or equivalent) will be an advantage.
• Excellent verbal and written English competence.
• Some regional travel may be required.