Actuary

Description and Requirements

Role Value Proposition :

MetLife is an industry leader in the Pension Risk Transfer space, and the US Pension Pricing team is seeking an Actuary to support its responsibilities and to assist in transforming its strategy and operating environment. Core responsibilities include pricing of pension risk transfer transactions, mortality experience analyses, and developing customized solutions for corporate clients. This position will work with Product Management, Contracts, Valuation, ALM, Global Risk Management, Finance, and Investments on a regular basis. This position will also provide actuarial support for the team's projects to enhance processes.

Key Responsibilities :

• Perform Pension Risk Transfer annuity pricing; review defined benefit plan documents (or summary); Independently analyze participant level data and complex plan provisions; set actuarial assumptions within company guidelines; independently perform complex actuarial calculations and sensitivity analysis; and analyze profitability; review investment portfolios for appropriateness; review offer letters and contracts for consistency with pricing assumptions; own, explain, and present results and metrics, including comparison to other products and / or past cases
• Independently analyze case-specific mortality experience data (MED) and plan features and perform sensitivities to develop best estimate assumptions; recommend, document, present & defend assumptions to Risk and Actuarial
• Identify and implement improvements for tools used for PRT mortality development including both internal proprietary models, analysis of plan-specific MED, and assumption playbooks
• Strong presentation and documentation of all work and models to share with peers and senior leaders, including assumptions, processes, methodology and results; detailed model validation and review; produce clear, concise summaries and decks of analysis / recommendations
• Develop pricing financial metrics, review and verify actuarial reports, and present reports to Management.
• Provide actuarial support to internal partners (i.e. Implementation and Global Operations) on all pricing issues.
• Collaborate with the Contract team to develop a comprehensive bid letter and term sheet for each case and contracts after the sale.
• Perform post-sales pricing related functions, such as creating individual cost listing, analyzing price variance, handling amendment calculations, etc.
• Identify and implement process improvement to enhance the quality of work and improve efficiency.

Essential Business Experience and Technical Skills :

Required :

Preferred :

The salary range for applicants for this position is $114,000 - $160,000.

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 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!

Equal Employment Opportunity / Disability / Veterans

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.

114,000 - $160,000

Requisition # : 6085

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Salary : $114,000 - $160,000