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Qualified Actuary specialized in Life insurance with at least 5 years of experience in pricing, evaluation of life insurance products, universal life and variable universal life product experience, FCRs, ERM, reinsurance and IFRS 17. In addition to strong knowledge of reserving methods and solvency requirements.

Key duties (including, but not limited to):

  • Financial services experience in the insurance field, either in a regulator or working for one or more financial firms
  • Demonstrate technical expertise in life insurance, actuarial and risk management. This work has a high technical content, reflecting the complexity and sophistication of life insurance products and distribution. As each firm and the business that it writes may be unique, there is a high degree of judgement required in arriving at a view as to the adequacy or otherwise of the work presented by firms. This may be based upon the output of complex models or a detailed process involving many stages of analysis and judgements, drawing on diverse, often incomplete, sources of data
  • Risk specialist knowledge will include insurance risk (underwriting, reserving and catastrophe risk), market risk and operational risk, based upon a good understanding of the life insurance industry practices and processes
  • In order to be able to form a view on the work of other actuaries in the market, it is needed to demonstrate a full understanding of the insurance company’s business model: the make-up and evolution of its balance sheet; capital and cash generation; its vulnerabilities and exposure to risk
  • Demonstrate a high level of knowledge of trends and practices within the insurance industry, supported by knowledge of current economic conditions and the threats that these might pose to the insurance businesses/industry

Qualifications required:

  • Fellow (i.e., Qualified) of a recognized (exam-based) International Actuarial Association
  • Minimum of a Relevant University Degree

Experience required:

  • Experience of Accounting & Enterprise Risk Management (ERM) as they relate to insurance (e.g., IFRS 9, IFRS 17)
  • Ability to explain complex technical issues in a simple and accessible manner, using a combination of written, spoken and numerically based communication approaches
  • Expected to operate at a high technical standard
  • Experience of working in, or with key stakeholders
  • Sound knowledge of the insurance regulatory environment and Solvency II risk-based capital regime
  • Experience of working as, or with, members of the actuarial profession and understanding of the professional standards required
  • Job Type: Experienced Job
  • Experience Level: Senior Qualified
  • Job Reference: 26856
  • Location: Dubai
  • Contract Type: Permanent
  • Employment Type: Full Time
  • Date Posted: 04 Aug 2023
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