Actuarial Risk Officer

About the Company

Al Etihad Cooperative Insurance Company is a public joint-stock insurer based in Saudi Arabia, established by royal decree and a Council of Ministers decision. The company has paid-up capital of SAR 500 million and traces its roots to United Insurance Company, founded in Bahrain in 1983 to carry out insurance business in Saudi Arabia. It became publicly listed in 2008 on Tadawul under symbol 8170.

The company operates under the oversight of the Saudi Insurance Authority and is authorized across major insurance lines, including general, medical, motor, and protection & savings. With a broad branch and outlet network across the Kingdom, the organization focuses on accessibility and service quality through a dedicated workforce.

Role Overview

The Actuarial Risk Officer will support the company’s risk management efforts by identifying, measuring, and tracking actuarial exposures tied to pricing, reserves, portfolios, and assumptions. The role also works closely with internal teams to strengthen enterprise risk practices and ensure compliance with regulatory expectations.

Key Responsibilities

• Track and evaluate actuarial risks linked to pricing, technical reserves, insurance portfolios, and actuarial assumptions.
• Examine claims, premium, and portfolio datasets to produce statistical insights that improve risk assessment and support decisions.
• Help implement and improve the Enterprise Risk Management framework, including use of the Risk Register and Key Risk Indicators to monitor actuarial risks.
• Assist in preparing and reviewing Risk-Based Capital work, stress tests, and scenario analyses.
• Assess actuarial outputs from a risk viewpoint and consider their effect on capital strength, solvency, and profitability.
• Check the accuracy and completeness of data used in actuarial and risk work, and coordinate with other departments to fix issues.
• Prepare recurring reports, dashboards, and presentations covering actuarial risk management matters.
• Support strategic risk-management initiatives and follow through on related projects.
• Work with Actuarial, Finance, Underwriting, Claims, Compliance, and other teams to maintain an integrated risk approach.
• Stay updated on Insurance Authority regulations and professional standards, and help improve risk policies, procedures, and methods.

Requirements

• Bachelor’s degree in actuarial science or a closely related field.
• At least 3 years of relevant experience in actuarial work, risk management, or the insurance sector.
• Strong ability to analyze data and solve problems effectively.
• Good communication and interpersonal skills.
• Working knowledge of Microsoft Excel and other data analysis tools.
• Fluency in both Arabic and English.

Additional Information

The role is based in Al Khobar, Eastern Province, Saudi Arabia and is a full-time onsite position.

Company Background

Al Etihad Cooperative Insurance Company is regulated by the Saudi Insurance Authority and serves customers across the Kingdom through an established network of offices and regional outlets.