Riyadh: The Insurance Authority, in collaboration with the Financial Academy, is set to launch the 'Actuarial Science Skills Accelerator' program. This initiative is aimed at cultivating and empowering national talent in actuarial science, enhancing sector readiness through internationally recognized professional pathways. The program seeks to bolster Saudi actuaries in the labor market and generate high-quality career opportunities within the specialized insurance sector.

According to Saudi Press Agency, the program is designed to prepare national talent to excel in actuarial science, supporting the insurance sector's growth and sustainability. It aligns skills with market needs and regulatory requirements, providing a long-term career pathway from entry-level to fellowship. Participants will gain expertise in areas such as modeling, applied statistics, financial mathematics, risk management, and insurance applications.

The authority has announced that the Society of Actuaries (SOA) Exam (P) Preparatory Program will commence on June 22, while the Institute and Faculty of Actuaries (IFoA) Exam (CB1) Preparatory Program will start on June 16. The program is focused on aiding participants in progressing through the professional certification tracks offered by the SOA and IFoA. It provides a structured training framework and supporting educational content to build the necessary knowledge and professional foundation for passing examinations and advancing in the actuarial career path.

This initiative is part of the Insurance Authority's ongoing efforts to develop national capabilities in technical specializations related to the insurance sector. It aligns with the objectives of the Human Capability Development Program (HCDP), a component of the National Insurance Strategy (NIS), which aims to create over 21,000 jobs by 2030 and develop specialized national insurance talent.

Additionally, it strengthens the sector's capabilities and enhances operational efficiency in accordance with the Financial Sector Development Program under Saudi Vision 2030.