What are the responsibilities and job description for the Associate Actuary - Annuities & Reinsurance position at MetLife?
Requirements
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:
The expected salary range for this position is $97,400 - $129,800. This role may also be eligible for annual short-term incentive compensation. All incentives and benefits are subject to the applicable plan terms.
Benefits We Offer
Our U.S. benefits address holistic well-being with programs for physical and mental health, financial wellness, and support for families. We offer a comprehensive health plan that includes medical/prescription drug and vision, dental insurance, and no-cost short- and long-term disability. We also provide company-paid life insurance and legal services, a retirement pension funded entirely by MetLife and 401(k) with employer matching, group discounts on voluntary insurance products including auto and home, pet, critical illness, hospital indemnity, and accident insurance, as well as Employee Assistance Program (EAP) and digital mental health programs, parental leave, paid time off, paid holidays, volunteer time off, tuition assistance and much more!
About MetLife
Recognized on Fortune magazine's list of the "World's Most Admired Companies", Fortune World’s 25 Best Workplaces™, as well as the Fortune 100 Best Companies to Work For®, 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 our core values - Win Together, Do the Right Thing, Deliver Impact Over Activity, and Think Ahead - we’re inspired to transform the next century in financial services. At MetLife, it’s #AllTogetherPossible . Join us!
MetLife is an Equal Opportunity Employer. All employment decisions are made without regards to race, color, national origin, religion, creed, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, marital or domestic/civil partnership status, genetic information, citizenship status (although applicants and employees must be legally authorized to work in the United States), uniformed service member or veteran status, or any other characteristic protected by applicable federal, state, or local law (“protected characteristics”).
If you need an accommodation due to a disability, please email us at accommodations@metlife.com. This information will be held in confidence and used only to determine an appropriate accommodation for the application process.
MetLife maintains a drug-free workplace.
$97,400 - $129,800
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
- 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
The expected salary range for this position is $97,400 - $129,800. This role may also be eligible for annual short-term incentive compensation. All incentives and benefits are subject to the applicable plan terms.
Benefits We Offer
Our U.S. benefits address holistic well-being with programs for physical and mental health, financial wellness, and support for families. We offer a comprehensive health plan that includes medical/prescription drug and vision, dental insurance, and no-cost short- and long-term disability. We also provide company-paid life insurance and legal services, a retirement pension funded entirely by MetLife and 401(k) with employer matching, group discounts on voluntary insurance products including auto and home, pet, critical illness, hospital indemnity, and accident insurance, as well as Employee Assistance Program (EAP) and digital mental health programs, parental leave, paid time off, paid holidays, volunteer time off, tuition assistance and much more!
About MetLife
Recognized on Fortune magazine's list of the "World's Most Admired Companies", Fortune World’s 25 Best Workplaces™, as well as the Fortune 100 Best Companies to Work For®, 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 our core values - Win Together, Do the Right Thing, Deliver Impact Over Activity, and Think Ahead - we’re inspired to transform the next century in financial services. At MetLife, it’s #AllTogetherPossible . Join us!
MetLife is an Equal Opportunity Employer. All employment decisions are made without regards to race, color, national origin, religion, creed, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, marital or domestic/civil partnership status, genetic information, citizenship status (although applicants and employees must be legally authorized to work in the United States), uniformed service member or veteran status, or any other characteristic protected by applicable federal, state, or local law (“protected characteristics”).
If you need an accommodation due to a disability, please email us at accommodations@metlife.com. This information will be held in confidence and used only to determine an appropriate accommodation for the application process.
MetLife maintains a drug-free workplace.
$97,400 - $129,800
Salary : $97,400 - $129,800