What are the responsibilities and job description for the Associate Actuary position at MetLife?
Description and Requirements
Associate Actuary - Income Annuities
The Retirement & Income Solutions (RIS) Annuity business is seeking an Associate Actuary. Reporting to the Director, Institutional Income Annuity Pricing, this role will provide actuarial and technical expertise for the Institutional Income Annuity (IIA) business. The IIA pricing team is a diverse team of financial professionals utilizing business acumen and financial expertise to create innovative solutions that address our groups customers’ retirement income needs. This position interacts closely with all areas of RIS, including Product, Sales, Contract, Operations, as well as with enterprise stakeholders such as Finance, Actuarial, Risk, Investments, and Legal.
Key Responsibilities:
- Perform actuarial, pricing, financial, and technical analysis to supports new & existing business pricing, benefit calculations & operational support, and Sales/Marketing support
- Work with the business on the design and pricing phase for strategic initiatives and RFPs. Independently create custom pricing models, perform assumption reviews, and conduct sensitivity testing.
- Calculate new business pricing results. Provide explanations for deviations & make recommendations on how to address.
- Identify and implement process and documentation improvements, automation, and optimization for new business and enforce pricing-related activities
- Clearly and concisely communicate pricing & calculation results to business and pricing leadership, in both written and oral fashion
- Collaborate with IT to support in-force business management, existing quoting platforms and other emergent technology platforms. Perform leadership role within the Agile team on pricing-related calculations, testing, and strategic improvements
- Lead with RIS Operations to support in-force business including benefit calculations and other business administration needs.
Required:
- Bachelor's degree in mathematics, statistics or actuarial science or related discipline
- 5 years actuarial experience, including at least 2 years with Annuity and/or Pricing experience
- ASA/Pre ASA designation on Society of Actuaries
- Strong quantitative and communication skills. Able to concisely present orally and in presentations.
- 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
Location Expectation: This is a hybrid role requiring a minimum of 3 days per week in office.
The expected salary range for this position is $95,500 - $127,300. 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, 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.
Salary : $95,500 - $127,300