Senior Insurance Reserving Specialist

🏗 We're Hiring: Senior Insurance Reserving Specialist

📍 Location: United Arab Emirates (Remote)

🕒 Employment Type: Full-Time

💼 Experience Level: Mid-Level to Senior

🌐 Work Arrangement: Fully Remote

About Us

We are a construction-focused organization committed to delivering complex projects through disciplined contract management, financial transparency, operational excellence, and effective risk management. Our multidisciplinary teams collaborate across Project Management, Construction, Engineering, Procurement, Commercial, Legal, Finance, Human Resources, Design, Quality, HSE, Consultants, Contractors, Suppliers, Logistics, Administration, Information Technology, and Executive Leadership to support sustainable operations, protect organizational assets, and maintain strong financial governance.

We recognize the importance of accurate insurance reserving, reliable actuarial analysis, and prudent financial planning in managing insurance exposures and claims-related liabilities. Through effective risk assessment, robust financial controls, and collaboration with insurance providers, brokers, actuaries, and internal stakeholders, we aim to strengthen reserving practices, improve financial reporting accuracy, and support informed business decisions.

The Role

We are seeking an experienced Senior Insurance Reserving Specialist to oversee insurance reserving analysis, claims liability estimation, actuarial reporting support, and reserve adequacy assessments across relevant insurance portfolios and risk exposures. The successful candidate will analyze claims experience, assess outstanding liabilities, develop reserving methodologies, and provide insights into the financial implications of current and emerging insurance risks.

The role will involve reviewing claims data, evaluating loss development patterns, monitoring reserve movements, conducting actuarial analyses, and supporting the preparation of financial and regulatory reports. The specialist will work closely with Finance, Risk Management, Legal, Project Management, insurance brokers, external insurers, actuaries, and auditors to ensure that insurance reserves are appropriately supported, consistently calculated, and aligned with applicable accounting standards, regulatory requirements, and internal risk management policies.

Key Responsibilities

• Lead and coordinate insurance reserving activities across relevant insurance portfolios, claims categories, and risk exposures.
• Develop, maintain, and review methodologies for estimating outstanding claims liabilities and other insurance-related provisions.
• Analyze claims data, historical loss experience, payment patterns, reported claims, and incurred but not reported (IBNR) claims.
• Estimate outstanding claims reserves using appropriate actuarial and statistical techniques.
• Assess incurred but not reported (IBNR) and incurred but not enough reported (IBNER) liabilities where relevant to the portfolio.
• Review reported claims, case reserves, claims development patterns, and settlement histories to evaluate reserve adequacy.
• Analyze claims frequency, severity, average settlement costs, claim duration, and other relevant loss indicators.
• Apply suitable reserving methods, including chain ladder, Bornhuetter-Ferguson, expected loss ratio, frequency-severity, and other appropriate techniques.
• Evaluate the suitability of selected reserving methodologies based on data quality, portfolio characteristics, claims maturity, and available historical experience.
• Conduct loss development analysis and prepare development triangles for paid claims, incurred claims, claim counts, and other relevant measures.
• Assess changes in claims development patterns and identify emerging trends that may affect reserve estimates.
• Evaluate large losses, catastrophic claims, complex liability claims, and unusual claims events that may materially affect reserve adequacy.
• Review reserve assumptions, development factors, loss ratios, inflation assumptions, and other actuarial parameters.
• Perform sensitivity analysis to assess the impact of changes in assumptions, claim severity, settlement patterns, and economic conditions.
• Develop best-estimate reserve projections and appropriate uncertainty assessments using relevant actuarial methodologies.
• Analyze reserve variability and communicate key uncertainties, limitations, and potential adverse developments.
• Review insurance claim provisions relating to property damage, construction risks, professional indemnity, public liability, employer liability, motor insurance, marine cargo, and other relevant coverage categories.
• Support the assessment of insurance exposures associated with construction projects, engineering activities, subcontractor operations, equipment, and third-party liabilities.
• Coordinate with Claims Management and Legal teams to understand complex claims, disputed liabilities, litigation developments, and settlement expectations.
• Review claims notifications, adjuster reports, legal assessments, settlement offers, and other evidence that may influence reserve estimates.
• Evaluate the financial impact of claims settlements, recoveries, salvage, subrogation, deductibles, and policy limits where applicable.
• Assess the effect of reinsurance arrangements on recoverable amounts and net insurance reserve positions where relevant.
• Review reinsurance treaties, facultative arrangements, retention limits, and recovery provisions to support accurate reserving analysis.
• Coordinate with insurers, reinsurers, brokers, and external actuarial advisers to obtain relevant claims and reserving information.
• Reconcile claims data received from external insurance providers with internal records and financial reporting systems.
• Investigate data inconsistencies, incomplete claims records, unusual movements, and unexplained changes in reported liabilities.
• Establish data validation procedures to improve the completeness, accuracy, and consistency of reserving inputs.
• Maintain documented records of data sources, assumptions, methodologies, calculations, and management judgments.
• Prepare periodic reserve estimates and updates for monthly, quarterly, and annual financial reporting cycles.
• Analyze movements in insurance reserves and explain changes attributable to new claims, claim payments, development experience, revised assumptions, and portfolio changes.
• Reconcile reserve balances with general ledger accounts, claims administration systems, actuarial models, and financial reporting records.
• Support the preparation of insurance liability disclosures and other relevant financial statement information.
• Collaborate with Finance and Accounting teams to ensure reserve estimates are appropriately reflected in financial statements and management reports.
• Assess the accounting implications of insurance reserve changes under applicable accounting standards and reporting policies.
• Support relevant IFRS 17 insurance contract measurement and reporting activities where applicable to the organization's insurance arrangements or reporting responsibilities.
• Assist in distinguishing insurance contract liabilities from provisions and contingent liabilities arising from other contractual or operational obligations.
• Monitor applicable insurance reserving regulations, actuarial guidance, accounting standards, and regulatory reporting requirements.
• Evaluate the impact of changes in actuarial standards, accounting policies, and regulatory guidance on reserving methodologies.
• Support the implementation and maintenance of reserving policies, procedures, governance frameworks, and review controls.
• Establish consistent documentation standards for reserve calculations, assumptions, approvals,