Specialist of Prudential Inspection at Pinyon

Riyadh, Riyadh Region, Saudi Arabia -

Full Time

Start Date

Immediate

Expiry Date

29 Jun, 26

Salary

0.0

Posted On

31 Mar, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Prudential Supervision, Financial Risk Analysis, Governance Risk Assessment, Off-site Analysis, On-site Examinations, Solvency Capital Requirement, Minimum Capital Requirement, ORSA, Risk Dashboards, Capital Adequacy, Liquidity Analysis, Technical Provisions, Stress Testing, Asset-Liability Management, Regulatory Compliance, Data Quality

Industry

Description

Job Overview This role is conducted within the vision, mission, and strategic plan of the Insurance Authority. The Senior Specialist of Prudential Supervision safeguards policyholder interests and sector resilience by driving early detection and mitigation of financial and governance risks within licensed Health and Life insurers. Reporting to the Multiliners Supervision Manager, this role delivers integrated off-site analysis and on-site examinations that translate complex solvency data into decisive supervisory actions. The Senior Specialist informs regulatory policy through actionable insights, ensures consistent compliance enforcement, and champions methodological enhancements that strengthen the Authority’s risk-based framework. Continuous cross-functional collaboration elevates data quality, inspection rigor and supervisory efficiency across the prudential ecosystem. Responsibilities and Tasks * Collect, validate and analyse quarterly and annual prudential returns—including Solvency Capital Requirement (SCR), Minimum Capital Requirement (MCR) and Own Risk & Solvency Assessment (ORSA)—to identify outliers and early-warning signals. * Maintain insurer-specific risk dashboards, updating key indicators on capital adequacy, technical-provision adequacy, investment concentration and liquidity positions, and escalate breaches to the Multiliners Supervision Manager. * Coordinate with internal actuaries to challenge technical-provisions assumptions and stress-testing methodologies, documenting findings and recommended supervisory actions. * Plan and execute focused on-site reviews covering governance, reserving, reinsurance and asset-liability management, preparing pre-inspection briefs and leading allocated workstreams. * Draft comprehensive inspection reports that articulate factual observations, root-cause analysis and risk-rated remedial actions, and track remediation progress until closure. * Support thematic reviews across Life, Health and Multiline portfolios by collating data sets, testing sample files and synthesising cross-firm trends for management presentation. * Perform completeness and accuracy checks on Prudential Supervision Return (PSR) submissions and issue formal deficiency notices in accordance with supervisory protocols. * Review insurers’ Board-approved policies (e.g., investment, underwriting, outsourcing) against regulatory standards, recommending approval, conditional approval or revision. * Contribute to drafting circulars, FAQs and guidance notes by providing operational insights on implementation challenges observed during day-to-day supervision. * Maintain structured case files and SharePoint repositories, ensuring all correspondence, meeting minutes and enforcement notices meet record-keeping requirements and are audit-ready., Liaise with peer Senior Experts and Specialists to harmonise methodologies, share best practices and provide informal coaching to new joiners on analytical tools. * Propose data-quality or process enhancements to the Prudential Supervision toolkit, test automation scripts where applicable and report efficiency gains to the Manager. * Perform other job duties as assigned. The Insurance Authority (IA), the insurance regulator of the Kingdom of Saudi Arabia was established by royal decree No. 85 dated 28/01/1445 H. IA has a clear mandate to become the dedicated regulator for the Kingdom’s insurance sector. The IA aims to regulate, supervise and control the insurance sector in the Kingdom in a way that supports and enhances its effectiveness, works to develop insurance awareness, protect the rights of the insured and beneficiaries, stabilize the insurance sector, contribute to financial stability, promote and develop the insurance sector, and work to consolidate the principles and pillars of the insurance contractual relationship. The Talent Acquisition at IA is dedicated to attracting and hiring talented individuals who share our commitment to excellence and innovation. We ensure an efficient and candidate-friendly hiring process, offering timely responses and a seamless experience. Our team is committed to fostering a diverse and inclusive work environment, where every new team member can thrive and contribute to our success. Join us to be part of a dynamic organization that values growth, collaboration, and continuous development.

Responsibilities

The Specialist will collect, validate, and analyze quarterly and annual prudential returns, including SCR, MCR, and ORSA, to identify early warning signals and maintain insurer-specific risk dashboards. Responsibilities also include planning and executing on-site reviews covering governance and reserving, drafting comprehensive inspection reports, and tracking remediation progress.