Assistant Vice President - Life Actuarial

AlFuttaim; Dubai; On-site; AED 450,000 - 700,000; Full time

Job summary

Orient Insurance PJSC, part of the Al-Futtaim Group, is seeking an Assistant Vice President to join its Life Actuarial team in Dubai. The role covers pricing, actuarial valuation, IFRS 17 reporting, regulatory submissions, and profitability analysis for life insurance products.

The successful candidate will contribute to financial performance assessments, manage actuarial studies, and support reporting requirements across regional teams.

Qualifications

• Progress toward Fellow-level actuarial qualification or equivalent.
• Associateship qualifications such as AIA or ASA from recognized bodies (IFoA/SOA/IAI).
• Several actuarial professional examinations successfully completed.

Responsibilities

• Support pricing and development of life insurance products.
• Perform actuarial analysis to support product pricing decisions.
• Assist with regulatory filings and submissions for life insurance products.
• Provide actuarial input for new product launches and for IFRS 17 reporting.
• Support valuation processes for statutory and regulatory reporting and management information.

Education

Actuarial qualification progress (Fellow level or equivalent)

Actuarial associateship (AIA/ASA/IFoA/SOA/IAI)

Actuarial professional examinations completed

Job description

Job Snapshot

Assistant Vice President - Life Actuarial. Role: Assistant Vice President - Life Actuarial. Location: Dubai, United Arab Emirates. Industry: Insurance. Function: Financial Analysis-Research-Reporting. Experience: 3-4 years of actuarial experience specified in the requirements; 5-6 years of GCC experience stated separately. Job Type: Full Time. Work Arrangement: On-site.

Position Overview

Orient Insurance PJSC, part of Al-Futtaim Group, is seeking an Assistant Vice President to join its Life Actuarial team in Dubai, United Arab Emirates. The role covers life insurance product pricing, actuarial valuation, IFRS 17 reporting, regulatory submissions, and business profitability analysis.

The successful candidate will contribute to the development and financial assessment of life insurance products while supporting statutory, regulatory, and management reporting requirements. Working closely with Product, Finance, Operations, and regional Life Insurance teams, the Assistant Vice President will analyze financial performance, prepare actuarial studies, and maintain actuarial models and reporting tools. The position requires practical experience in the UAE or GCC life insurance market, knowledge of IFRS 17 methodologies, and progress toward a recognized actuarial qualification.

Job Details

• Country: United Arab Emirates
• City: Dubai
• Industry: Insurance
• Function: Financial Analysis-Research-Reporting
• Salary: Not disclosed
• Gender: No Preference
• Candidate Nationality: Not specified
• Job Type: Full Time
• Work Arrangement: On-site
• Job Requisition ID: 181616

Key Responsibilities

• Support the pricing and development of life insurance products.
• Perform actuarial analysis to support product pricing decisions.
• Assist with regulatory filings and submissions relating to life insurance products.
• Provide actuarial input for new product launches.
• Support enhancements and modifications to existing life insurance products.
• Collaborate with Product and regional Life Insurance teams on product development activities.
• Prepare relevant actuarial calculations and supporting analysis for product initiatives.
• Perform actuarial valuations for life insurance business.
• Support valuation processes used for statutory and regulatory reporting.
• Contribute to the preparation of management reporting information.
• Analyze valuation results and prepare supporting actuarial information.
• Work with Finance and relevant business teams to support accurate financial reporting.
• Maintain appropriate actuarial models and tools used in valuation activities.
• Support actuarial reporting activities under International Financial Reporting Standard 17 (IFRS 17).
• Apply knowledge of the General Measurement Model (GMM) and Variable Fee Approach (VFA).
• Assist with actuarial calculations and analysis required for IFRS 17 reporting.
• Coordinate with Finance and Life Insurance teams on relevant reporting requirements.
• Contribute to the preparation and review of actuarial information supporting financial reporting.
• Support improvements to IFRS 17 reporting processes and related actuarial tools.
• Analyze life insurance business profitability at product level.
• Review financial performance across distribution channels.
• Evaluate profitability at line-of-business level.
• Conduct expense analysis to support financial performance assessments.
• Identify relevant trends and variations in business profitability.
• Prepare actuarial analysis to support management understanding of financial results.
• Provide information to relevant stakeholders for business performance reviews.
• Prepare experience studies using relevant life insurance business data.
• Analyze actuarial information to support valuation and product-related activities.
• Produce management information and actuarial reports.
• Conduct ad hoc actuarial analysis according to business requirements.
• Interpret data and communicate relevant findings to stakeholders.
• Support actuarial assessments relating to business performance and product experience.
• Maintain actuarial models used in pricing, valuation, and reporting.
• Support improvements to existing actuarial tools and processes.
• Analyze data to support accurate actuarial calculations.
• Review model outputs and supporting information.
• Contribute to improvements in reporting efficiency and consistency.
• Apply relevant analytical and modelling techniques to assigned actuarial activities.
• Work closely with Product, Finance, and Operations teams.
• Collaborate with regional Life Insurance teams across subsidiaries.
• Provide actuarial support for business and financial reporting initiatives.
• Coordinate relevant actuarial information with internal stakeholders.
• Support the implementation of product and reporting activities.
• Communicate actuarial findings and technical information clearly.
• Participate in cross-functional initiatives relating to life insurance business performance.

Qualifications and Requirements

• Progress toward a recognized actuarial qualification at Fellow level or equivalent.
• Associateship qualification such as AIA or ASA from a recognized actuarial professional body, including IFoA, SOA, or IAI.
• Several actuarial professional examinations successfully completed.

Professional Experience

• 3-4 years of actuarial experience in the UAE or GCC life insurance market, as stated in the main requirements section.
• 5-6 years of experience in the GCC, as stated in the separate experience field.
• Life insurance product pricing.
• Regulatory product submissions.
• Actuarial valuation activities.
• Financial and regulatory reporting processes.
• Exposure to life insurance business analysis.

Technical Knowledge

• Knowledge of life insurance product pricing principles.
• Understanding of actuarial valuation processes.
• Familiarity with statutory and regulatory reporting requirements.
• Ability to analyze life insurance profitability and expenses.
• Understanding of actuarial experience studies.
• Knowledge of actuarial modelling and reporting processes.

IFRS 17

• Knowledge of IFRS 17 financial reporting requirements.
• Understanding of the General Measurement Model (GMM).
• Understanding of the Variable Fee Approach (VFA).
• Ability to support actuarial calculations and reporting activities under IFRS 17.

Data Analysis and Modelling

• Advanced proficiency in Microsoft Excel.
• Strong data analysis capabilities.
• Ability to work with actuarial models and analytical tools.
• Experience preparing actuarial reports and management information.
• Ability to interpret financial and actuarial data.

Preferred Technical Experience

• Hands-on experience with Prophet actuarial modelling software.
• Hands-on experience with Alteryx. These software skills are preferred rather than mandatory.

Required Professional Competencies

• Strong analytical and problem-solving abilities.
• Good numerical and financial analysis skills.
• Effective written and verbal communication.
• Strong stakeholder management capabilities.
• Ability to collaborate with technical and non-technical teams.
• Attention to detail when preparing actuarial calculations and reports.
• Ability to interpret complex actuarial information.
• Good organizational skills.
• Ability to support multiple actuarial and reporting activities.
• Professional approach to cross-functional collaboration.

About the Life Actuarial Role

The Assistant Vice President will contribute to several important areas of the life insurance business, including product development, actuarial valuation, financial reporting, and profitability assessment. The position provides exposure to IFRS 17 reporting methodologies, regulatory requirements, and actuarial initiatives involving regional Life Insurance teams. The role combines technical actuarial responsibilities with collaboration across Product, Finance, and Operations functions.

About Orient Insurance PJSC

Orient Insurance Company commenced operations in 1982 as part of Al-Futtaim Group and has established a significant presence in the UAE insurance market. The company has a paid-up capital of AED 500 million and operates from its head office in Dubai. Orient Insurance serves customers through a branch network covering Jebel Ali, Abu Dhabi, Al Ain, Sharjah, and Ras Al Khaimah in the United Arab Emirates. Its regional presence also includes Muscat in Oman, Riyadh in Saudi Arabia, and Bahrain. As part of Al-Futtaim Group, Orient Insurance operates within a diversified regional organization with business interests across automotive, financial services, real estate, retail, and healthcare.