What are the responsibilities and job description for the Actuary, Annuity Reinsurance position at MetLife?
- Posting Location: New York, New York
Description and Requirements
Role Value Proposition:
This role will play an integral role in the Annuity Reinsurance team within Retirement Income Solutions (RIS). The RIS business, one of the largest U.S. segments in MetLife, has a wide variety of products, including pension risk transfer products, UK Reinsurance, GIC/Funding agreements, Stable Value products, Structured Settlements, Institutional Income Annuities and PRB & SBR Products.
The successful candidate will report to the Director of Annuity Reinsurance and support pricing, onboarding, and inforce management for the Annuity Reinsurance products. This is a visible role to senior leaders within the RIS Leadership Team and other business & corporate functions, allowing opportunities to drive results. This position also interacts closely with the RIS business and functional partners, including Operations/Administration, Actuarial, Investments, IT, Legal, Compliance, Risk, and Finance.
Key Responsibilities
- Develop pricing quotes for Annuity Reinsurance transactions.
- Identify opportunities to reduce risk and improve pricing Annuity Reinsurance products.
- Conduct financial modeling of liability cashflow, reserve, capital projection, & risk sensitivities.
- Collaborate with Annuity Reinsurance Operations and Administration team to support on-boarding transactions to the administration and analytics platform used for operations calculations and reconciliations.
- Coordinate with key partners to support in-force management, such as but not limited to in-force metrics, financial metrics, collateral management, and settlement calculations.
- Partner closely with business lead, R&D, investments, finance, risk, legal, and other corporate functions to structure deals to optimize profitable opportunities for MetLife
- Lead by example to reinforce a culture of listening, accountability, collaboration, and transparency, creating an inclusive and diverse environment where all voices are encouraged.
Essential Business Experience and Technical Skills:
Required:
- Bachelor’s degree in Finance, Actuarial Science, Mathematics, Economics, or related discipline
- FSA or ASA required, with 5 years of insurance and/or reinsurance industry experience
- Strong analytical, financial modeling, and problem-solving skills
- Attention to detail and accuracy
- Strong Excel and VBA skillset
Preferred:
- Prior experience in pricing or valuation of group annuities or individual annuities is a plus
- Thorough understanding of annuity products and reinsurance, or ability to quickly learn
- Experience with Alteryx
The salary range for applicants for this position is $114,000 - $152,100.
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!
Recognized on Fortune magazine's list of the 2024 "World's Most Admired Companies", Fortune World’s 25 Best Workplaces™ for 2024, as well as the 2024 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 empathy, we’re inspired to transform the next century in financial services. At MetLife, it’s #AllTogetherPossible. Join us!
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.
