Website MetLife
At MetLife, we’re leading the global transformation of an industry we’ve long defined. Founded in 1868, 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 help its individual and institutional customers navigate their changing world. We have operations in more than 40 countries and hold leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. We are one of the largest institutional investors in the U.S. with $669 billion of total assets under management as of December 31, 2021, ranked #46 on the Fortune 500 list, and honored to have been named to Fortune magazine's list of the "World's Most Admired Companies" for three consecutive years.
Product Actuary – Employee Benefits Products
Job 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 Gulf,
Other Key Stakeholders: Head of Product Gulf, Head of EB Underwriting Gulf, Head of EB Sales
Key Responsibilities:
• Design and price competitive insurance products for group medical, life, and disability lines, ensuring alignment with business objectives and local market demands.
• Develop and maintain actuarial models for pricing and financial projections, ensuring accuracy and compliance with MetLife’s Actuarial Practice Standards.
• Collaborate with cross-functional teams, including underwriting, sales, finance, and claims, to ensure product offerings are effectively positioned and supported.
• Monitor the financial performance of products, analyzing variances and trends to recommend pricing adjustments and product enhancements as needed.
• Prepare and present detailed reports and proposals to senior management, providing insights and recommendations based on actuarial analysis.
• Stay informed of legislative and regulatory changes that may impact product offerings and ensure compliance with all applicable local laws and regulations.
Experience, Skills and Competencies:
• Bachelor’s or Master’s degree in Actuarial Science, Mathematics, Statistics, or a related field.
• Qualified (fellow/associate) & nearly qualified actuary in one of the recognized actuarial organizations.
• Minimum of 5 years of pricing and product development experience focusing on group medical, life, and disability insurance.
• Strong proficiency in data analytics tools such as Alteryx, SAS and data visualization platforms such as Power Bi, Tableau, Qlikview.
• Problem solver with excellent analytical and decision-making skills.
• Proven ability to communicate complex actuarial concepts to non-technical stakeholders.
• Ability to manage multiple priorities in a dynamic environment, collaborating across functions Leadership, Management, excellent written and verbal communication skills.
To apply for this job please visit www.metlifecareers.com.