Director & Actuary - Pension Risk Transfer

Role Value Proposition:

The Retirement & Income Solutions (RIS) Annuity business is seeking a Director & Actuary, a key and highly visible leadership role within the US Pension Risk Transfer Pricing team. Reporting to the Vice President, Annuity Pricing, this role will provide actuarial and technical expertise for pension risk transfer transactions and other key strategic initiatives in the Pensions business. This position will also lead and mentor actuarial associates within the team.

This position interacts closely with all areas of RIS, including Product, Contract, Implementation, Operations, as well as with enterprise stakeholders such as Finance, Actuarial, Risk, Investments, Legal, Tax, Accounting, and Treasury to respond to pricing needs for new business transactions and in-force management.

Key Responsibilities:

Perform, manage, and lead PRT case level pricing from start to finish.

• Performing pricing includes review of defined benefit plan documents/summary and understand plan provisions; analyze participant level data; recommend actuarial assumptions within company guidelines; perform actuarial calculations and sensitivity analysis; analyze profitability; review investment portfolios for appropriateness; thorough review offer letters and contracts for consistency with pricing assumptions
• Managing pricing involves developing, training, supervising, reviewing work of, and mentoring actuarial associates and students; developing and maintaining timelines to ensure work progress and deadlines are met; deep understanding of all tools, models, and calculations in order to ensure pricing accuracy; deep understanding of accounting frameworks and profitability metrics and ability to reconcile results within and across
• Leading pricing involves proactively coordinating with stakeholders across Product, Contracts, Implementation, and Actuarial areas on case-level specifics and ad-hoc pricing needs; recommending and developing pricing strategies and methodologies, especially for non-standard situations; succinctly summarizing and presenting pricing results out to executive leadership, identifying key areas of interest and appropriate and proactive callouts

Other responsibilities include:

• Oversee and/or perform post-sales pricing related functions, such as creating individual cost listing, analyzing price variance, and handling amendment calculations.
• Provide actuarial leadership and support to internal partners (i.e. Implementation & Global Operations) on all pricing issues
• Make recommendations on and oversee implementation of refining current processes to enhance the quality of work & improve efficiency
• Collaborate with the Contract team to develop a comprehensive bid letter and term sheet for each case and contracts after the sale
• Lead special projects including creating new pricing spreadsheets for ad-hoc calculations and act as a resource to internal partners on actuarial issues
• Analyze case-specific mortality experience (MED) and plan features to develop best estimate assumptions; document and present recommendations for approval

Essential Business Experience and Technical Skills:

Required:

• Bachelor's degree in mathematics, statistics or actuarial science or related discipline
• Insurance experience
• 8 years actuarial experience, including at least 2 years in the Pensions space
• ASA with Society of Actuaries required
• Proven experience managing, training, mentoring, and developing actuarial students
• 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

Preferred:

• FSA strongly preferred
• Broad knowledge of buy-in, buy-out, qualified and non-qualified pension products, defined contribution and defined benefit pension plans, competitive trends, and U.S. regulatory environment for retirement annuities

d in purpose, diverse in perspective, we’re dedicated to making a difference in the lives of our customers.

MetLife:

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 help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.

We are one of the largest institutional investors in the U.S. with $642.4 billion of total assets under management as of March 31, 2021. We are ranked #46 on the Fortune 500 list for 2021. In 2020, we were named to the Dow Jones Sustainability Index (DJSI) for the fifth year in a row. DJSI is a global index to track the leading sustainability-driven companies. We are proud to have been named to Fortune magazine’s 2021 list of the “World’s Most Admired Companies.”

MetLife is committed to building a purpose-driven and inclusive culture that energizes our people. Our employees work every day to help build a more confident future for people around the world.

The wage range for applicants for this position is $131,600 - 175,500. This role is also eligible for annual short-term incentive compensation. MetLife offers a comprehensive benefits program, including healthcare benefits, life insurance, retirement benefits, parental leave, legal plan services and paid time off. All incentives and benefits are subject to the applicable plan terms.

We want to make it simple for all interested and qualified candidates to apply for employment opportunities with MetLife. For further information about how to request a reasonable accommodation, please click on the Disability Accommodations link below.

MetLife is a proud Equal Employment Opportunity and Affirmative Action employer dedicated to attracting, retaining, and developing a diverse and inclusive workforce. All qualified applicants will receive consideration for employment at MetLife without regards to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, national origin, marital or domestic/civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by law.

MetLife maintains a drug-free workplace.