Dubai

Part Qualified

Associate

Qualified

Senior Actuary

Life

Health

Products

Reserving

Risk

Modelling

Pricing

Valuation

Capital

Consulting

Excel

Power BI

Tableau

Alteryx

<article class="article article--details article--separator-not regular-fields--cols-2Z">Working Schedule: Full-TimeWork Arrangement: HybridRelocation Assistance Available: YesPosted Date: 10-Jan-2025Job ID: 6064Description and RequirementsJob Overview:The Group/(EB) Products Actuary will play a critical role in driving the growth and profitability of MetLife Gulf’s Employee Benefits business operation across UAE, Qatar, Oman, Kuwait, and Bahrain through group medical, life, and disability insurance products.This position involves developing pricing strategies, designing new insurance products, and enhancing existing offerings to meet the evolving needs of our customers and the market.The successful candidate will possess a deep understanding of group medical and life insurance products, financial modeling, and regulatory requirements, combined with a strategic mindset and a passion for innovation.Key Relationships:Reports to: Group Products Actuarial Director GulfOther Key Stakeholders: Head of Product Gulf, Head of EB Underwriting Gulf, Head of EB SalesKey Responsibilities:<ul><li>Design and price competitive insurance products for group medical, life, and disability lines, ensuring alignment with business objectives and local market demands.</li><li>Develop and maintain actuarial models for pricing and financial projections, ensuring accuracy and compliance with MetLife’s Actuarial Practice Standards.</li><li>Collaborate with cross-functional teams, including underwriting, sales, finance, and claims, to ensure product offerings are effectively positioned and supported.</li><li>Monitor the financial performance of products, analyzing variances and trends to recommend pricing adjustments and product enhancements as needed.</li><li>Prepare and present detailed reports and proposals to senior management, providing insights and recommendations based on actuarial analysis.</li><li>Stay informed of legislative and regulatory changes that may impact product offerings and ensure compliance with all applicable local laws and regulations.</li></ul>Experience, Skills and Competencies:<ul><li>Bachelor's or Master's degree in Actuarial Science, Mathematics, Statistics, or a related field.</li><li>Qualified (fellow/associate) & nearly qualified actuary in one of the recognized actuarial organizations.</li><li>Minimum of 5 years of pricing and product development experience focusing on group medical, life, and disability insurance.</li><li>Strong proficiency in data analytics tools such as Alteryx, SAS, and data visualization platforms such as Power BI, Tableau, Qlikview.</li><li>Problem solver with excellent analytical and decision-making skills.</li><li>Proven ability to communicate complex actuarial concepts to non-technical stakeholders.</li><li>Ability to manage multiple priorities in a dynamic environment, collaborating across functions.</li><li>Leadership, management, excellent written and verbal communication skills.</li></ul>About MetLife:MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits, and asset management to individual and institutional customers.With operations in more than 40 markets, we hold leading positions in the United States, Latin America, Asia, Europe, and the Middle East.Our purpose is simple - to help our colleagues, customers, communities, and the world at large create a more confident future.United by purpose and guided by empathy, we’re inspired to transform the next century in financial services.At MetLife, it’s All Together Possible. Join us!</article>

Milliman’s Dubai Practice is looking to appoint an experienced consulting actuary, specialized in health-related work, to lead Milliman’s health projects across the Middle East.As a part of our team, you will support the development and delivery of a diverse range of consulting activities across multiple countries in the Middle East including pricing and reserving, development and review of mandatory benefit packages, and implementation of value-based reimbursement mechanisms, including DRGs.Department: Actuarial – HealthMilliman is one of the world’s leading consulting firms providing actuarial consulting related to retirement funding and healthcare financing, enterprise risk management and regulatory compliance, data analytics, and business transformation, as well as a range of other consulting and technology solutions.Milliman currently provides actuarial and consulting services to insurers, government entities and other stakeholders across the GCC countries.Key responsibilities:<ul><li>Line manager for the healthcare actuarial team based in both Dubai and Riyadh offices</li><li>Providing guidance to actuarial team to prepare appropriate analysis and modelling</li><li>Review and refinement of analysis and reports produced by the actuarial team for both private health insurers and government entities</li><li>Prepare and present results and recommendations to clients for consideration</li><li>Coordinating input from global consultants to develop responses to relevant RFPs</li><li>Project management, including preparing detailed project plans, monitoring progress, and managing project budgets</li><li>Liaising with key client contacts to obtain required data and information and provide project status updates</li><li>Ensure adherence to Milliman’s policies and processes throughout all activities</li></ul>Educational requirements:<ul><li>An undergraduate degree pursuing actuarial science, mathematics, or another major with quantitative course work</li><li>Must be a qualified actuary registered as a Fellow of a recognized global actuarial body</li><li>Outstanding academic record</li><li>Excellent knowledge of MS Office (Excel, Powerpoint etc.)</li></ul>Experience and skill requirements:<ul><li>Minimum of 10 years of actuarial experience, of which at least 5 years should be post-qualification experience, with a substantial part of the experience in health-related work</li><li>Superior math aptitude and strong analytical ability</li><li>Experience with reserving and pricing techniques for health insurance products</li><li>Experience with a wide range of actuarial concepts specific to health systems, such as utilisation, clinical coding systems, Diagnosis-Related Groupers, bundled payments, population health management, value-based healthcare, etc</li><li>Ability to translate complex actuarial concepts into simpler ideas for a non-actuarial audience</li><li>Significant client facing experience, including experience with presenting technical content to senior stakeholders</li><li>Project management experience</li><li>Excellent written and verbal communication skills</li><li>Strong attention to detail</li><li>Good organizational skills</li><li>Ability to work both independently and as part of a team</li><li>Ability to work under pressure</li><li>Must be willing to travel regularly throughout the region</li></ul>

Milliman is one of the world's leading actuarial consulting firms. We are currently looking for an experienced and highly skilled Senior Life Actuary to join our team in Dubai.The ideal candidate will have a strong background in life insurance actuarial practices, with a demonstrated ability to deliver strategic insights and guide a team towards meeting the client's objectives.Department: Actuarial – LifeMilliman is one of the world’s leading consulting firms providing actuarial consulting related to retirement funding and healthcare financing, enterprise risk management and regulatory compliance, data analytics, and business transformation, as well as a range of other consulting and technology solutions.Milliman currently provides actuarial and consulting services to insurers, government entities and other stakeholders across the GCC countries.Key responsibilities<ul><li>Lead the Life Actuarial department, managing a diverse team based in both Dubai and Riyadh offices</li><li>Providing guidance to actuarial team to prepare appropriate analysis and modelling</li><li>Work on a wide range of life insurance assignments including valuation, IFRS17 implementation, pricing and product development, experience studies, embedded value calculations, reinsurance, and capital modeling</li><li>Ensuring regular reporting requirements are completed on time, accurately and with the appropriate controls</li><li>Review and refinement of analysis and reports produced by the actuarial team</li><li>Prepare and present results and recommendations to clients for consideration</li><li>Oversee the design and development of new life insurance products.</li><li>Project management, including preparing detailed project plans, monitoring progress, and managing project budgets</li><li>Liaising with key client contacts to obtain required data and information and provide project status updates</li><li>Ensure adherence to Milliman’s policies and processes throughout all activities</li></ul>Educational requirements<ul><li>An undergraduate degree pursuing actuarial science, mathematics, or another major with quantitative course work</li><li>Must be a qualified actuary registered as a Fellow of a recognized global actuarial body</li><li>Outstanding academic record</li><li>Excellent knowledge of MS Office (Excel, Powerpoint etc.)</li></ul>Experience and skill requirements<ul><li>A minimum of 10 years' experience in the life insurance actuarial field.</li><li>Superior math aptitude and strong analytical ability</li><li>Profound experience in valuation, IFRS17, pricing and product development, experience studies, embedded value calculations, reinsurance, and capital modeling</li><li>Ability to translate complex actuarial concepts into simpler ideas for a non-actuarial audience</li><li>Significant client facing experience, including experience with presenting technical content to senior stakeholders</li><li>Proven track record in managing and leading teams to deliver high-quality actuarial services.</li><li>Project management experience</li><li>Excellent written and verbal communication skills</li><li>Strong attention to detail</li><li>Good organizational skills</li><li>Ability to work both independently and as part of a team</li><li>Ability to work under pressure</li><li>Must be willing to travel regularly throughout the region</li></ul>

A qualified actuary with at least 5 years of experience in life insurance pricing, product evaluation, and risk management. Must have experience with universal life and variable universal life products, FCRs, ERM, reinsurance, and IFRS 17. Strong knowledge of reserving methods and solvency requirements is required.Qualifications:Fellow (Qualified) of a recognized International Actuarial Association.Minimum of a relevant university degree.Roles and Responsibilities:<ul><li>Financial services experience in the insurance field, either in a regulator or working for one or more financial firms.</li><li>Demonstrate technical expertise in life insurance, actuarial and risk management.</li><li>Risk specialist knowledge will include: insurance risk (underwriting, reserving and catastrophe risk), market risk and operational risk.</li><li>Demonstrate a full understanding of the insurance company’s business model.</li><li>Demonstrate a high level of knowledge of trends and practices within the insurance industry.</li></ul>Specific/Desirable Skills:<ol><li>Expected to operate at a high technical standard.</li><li>Experience of working in, or with key stakeholders.</li><li>Sound knowledge of the insurance regulatory environment and Solvency II risk-based capital regime.</li><li>Experience of working as, or with, members of the actuarial profession and understanding of the professional standards required.</li><li>Experience of Accounting &amp; Enterprise Risk Management (ERM) as they relate to insurance (e.g., IFRS 9, IFRS 17).</li><li>Ability to explain complex technical issues in a simple and accessible manner.</li></ol>Personal Characteristics:<ul><li>Interpersonal, influencing and negotiation skills.</li><li>Recognized life insurance actuary and well-respected by peers.</li></ul>Certifications:Fellowship (Qualified), with at least 5 years of relevant experience.

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