What are the responsibilities and job description for the Associate Actuary - Annuity Pricing & Reinsurance position at MetLife, Inc?
Description and Requirements
The Retirement & Income Solutions (RIS) Annuity business is seeking an Associate Actuary. Retirement and Income Solutions (RIS) provides guaranteed income to individuals in a predictable and low risk way and helps companies reduce their risk and remain financially strong. The RIS business, one of the largest U.S. segments in MetLife, has a wide variety of risk solutions, investment and annuity-type products, including US Pensions, Structured Settlements and Institutional Income Annuities which make up the Annuities business.
The Role:
The successful candidate will provide actuarial, pricing, and technical support to the Annuity business teams by evaluating and implementing reinsurance opportunities. This role will support all annuity businesses seamlessly and flexibly where and when support, leadership, and analysis is needed.
This position interacts closely with all areas of RIS, including R&D, Pricing Frameworks, Product, Contracts, Operations, as well as with enterprise stakeholders such as Reinsurance, Finance, Actuarial, Risk, Investments, and Legal.
Key Responsibilities:
- Perform actuarial, pricing, financial, and technical analysis to support reinsurance opportunities for new and inforce business.
- Partner with R&D and Pricing Frameworks teams to perform model updates, validation, and documentation
- Develop future-state operating model for the Annuity Pricing teams for live reinsurance pricing including post-sale procedures & requirements; identify & incorporate all stakeholders required for seamless implementation & administration
- Drive implementation of reinsurance within Annuity Pricing teams by ensuring models and calculations are embedded into broader pricing processes; ensure robust training and documentation
- Support non-reinsurance BAU as priorities dictate; includes pricing and profitability analysis of individual cases/sales in all Annuity businesses, analyzing experience, recommending process improvements & automation, and partnering cross-functionally on projects
Required:
- Bachelor's degree in mathematics, statistics or actuarial science or related discipline
- 3-5 years actuarial experience, including at least 2 years with reinsurance experience
- ASA/Pre FSA designation on Society of Actuaries is preferred.
- Strong quantitative and communication skills. Able to concisely present orally and in presentations, to both technical and non-technical audiences.
- Strategic and analytical thinker with ability to focus on details. Able to quickly spot issues and develop a recommended approach.
- Self-starter with ability to effectively manage and supervise multiple projects and priorities simultaneously
- Strong computer skills (Excel, Access, Visual Basic, Prophet)
- Excellent analytical and spreadsheet skills
Salary : $95,500 - $127,300