Jobs Accounting/Banking/Finance Jobs in Saudi Arabia in Saudi Arabia
Role Purpose:
Manage Companies Portfolio Retail business (SME,
Family, and Individual) by assessing the risk and setting the prices accordingly in order to maximize Companies Profitability in line with the AOP
and Stand targets.
Key Accountabilities:
1)Retail Pricing and Underwriting :
Manage and control the assumptions, factors, and methods used for underwriting and risk assessment (IBNR, Case Reserve Inflation Factor…). Develop the rating and
approval processes for existing and new products.
Set and develop the annual pricing strategy reflecting market developments and medical expense trends. Lead the pricing
negotiations and recommend initiatives to enhance profitability on new as well as existing business.
Ensure that all developed products are compliant with CCHI regulations. Revise and update the pricing guidelines to improve risk controls against
anti-selection cases, fraud, abuse and pre-existing medical conditions.
2)Reinsurance strategy and Execution:
Execute reinsurance strategy including negotiating with reinsurers and prepare annual accounts.
Implement a well-defined control structure to monitor the company’s reinsurance
arrangement and report its performance.
Manage and maintain reinsurance transaction records, scenario testing reports, financial
implication report and reinsurance strategy to demonstrate compliance with SAMA regulation.
3) Pricing Model Performance Monitoring:
Monitor the historical and forecasted claim trends and ensure that cost curves and pricing models are adjusted regularly.
Monitor the portfolio’s underwriting profitability and examine progress of retention rate
and contribution against AOP and Stand targets.
Oversee development of dashboards, membership analysis reports, and customer segmentation projects. Manage special projects/ reports related to disease outbreaks, introduced benefits, new
policy regulations and healthcare developments.
4) Payment terms flexibility:
Manage payment flexibility terms to ensure
adherence to payment terms policy and minimize the impact on the provision by
maintaining a balance between bad debt provision and client retention.
5) People Management:
Leads team goal setting, manages and constantly reviews team and individual performance
and provides regular feedback, coaching and development.Motivates, empowers
and enables direct reports by providing the necessary tools and support
required to achieve departmental objectives
6) Reporting to Government Regulators,
Auditors and External Clients :
Manage the reporting output for Companies Compliance team to fulfill scheduled and /or adhoc regulatory reporting to CCHI, SAMA, Manar Sigma, E&Y auditors, etc.
Ensure that client MIS and FUR are operational as per client/customer expecations.
7) Search and Reapply:
Partner with other Companies global affilates to insure best pricing and underwriting practices are
being applied.
Share and reaplly the best processes and systems being used to address the latest market trends in the retail segment when applicable.
Purpose:
Policies/processes/procedures/recruitment
Pricing and risk assesment/market pdates/regular feedback·
Pricing / Network / Processes/Declaration/Loss Ratio·
Financial business case/pricing new products.
LR/ Discounts/ loadings/escalation of issues/underwriting issues
Financial business case/ pricing new products/ implementatio.
Job Details
| Date Posted: | 2016-09-03 |
| Job Location: | Jeddah , Saudi Arabia |
| Job Role: | Accounting/Banking/Finance |
| Company Industry: | Insurance |
Preferred Candidate
| Career Level: | Management |
| Gender: | Male |
| Nationality: | Saudi Arabia |
| Degree: | Master's degree |
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