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Actuary - Motor

Robert Walters
Riyadh, KSA
Full-time
Onsite
Discovered 5 days ago
Motor insurance actuarial practiceMotor pricingReservingCapital adequacy and solvencySupervisory modelsStress testing

Full Job Posting

Role overview

Provides regulatory actuarial leadership on motor insurance pricing, reserving, capital and solvency.

Supports NIS implementation and develops and validates supervisory models and stress tests.

Converts analysis into guidance, circulars and policy proposals.

Actuarial standards and analysis

  • Set motor pricing and reserving standards for inflation, coverage, deductibles, risk segmentation, repair networks and claim provisioning, including IBNR, IBNER and ULAE.
  • Conduct motor experience studies on frequency, severity, exposure, expenses, fraud or leakage and repair-cycle times; publish supervisory benchmark tables.
  • Review compulsory and comprehensive products and add-ons for underwriting rules, exclusions, rate adequacy and fairness; recommend remediation where needed.

Supervision and risk

  • Coordinate with strategy, prudential supervision and market conduct colleagues to develop guidance, circulars and sector policy proposals.
  • Monitor repair and adjuster networks, parts indices, labor rates, salvage and subrogation recoveries, and turnaround times; coordinate consumer-protection actions.
  • Evaluate reinsurance programs, including quota share, excess of loss, catastrophe covers and stop-loss, for risk transfer, counterparty concentration and collateral.
  • Lead stress testing for inflation, frequency, legal or judicial changes, catastrophe events and supply-chain shocks; advise on capital adequacy and management actions.

Requirements

  • Actuarial expertise relevant to motor insurance pricing, reserving, capital and solvency.
  • Ability to develop and validate supervisory models and stress tests.
  • Ability to assess motor product filings, underwriting rules, exclusions, rate adequacy and fairness.
  • Ability to evaluate reinsurance risk transfer, counterparty concentration and collateral sufficiency.

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