Description and Requirements
Role Value Proposition:
The Retirement & Income Solutions US Pension Pricing team is seeking an Actuary to support its responsibilities and to assist in transforming its operating environment. Core responsibilities include managing pricing of various contract types and developing customized solutions for corporate clients. This position will work with Product Management & Implementation, RIS Contracts, Actuarial Resources, Global Risk Management, Retirement & Income Solutions CFO, RIS Operations, and Investments on a regular basis. This position will also provide actuarial support for the team’s projects to enhance processes.
Key Responsibilities:
- Lead pricing & analysis for legacy pensions: Responsibilities include managing internal/external timelines through collaboration with Administrators, Actuarial Resources, and Contracts team; researching historical background; reviewing existing contract features and current administrative practices; data analysis and reconciliation; understanding financial impacts of contract types.
- Support PRT pricing: Responsibilities include review of daefined benefit plan documents/summary and understand plan provisions; analyze participant level data; set actuarial assumptions within company guidelines; perform actuarial calculations and sensitivity analysis; analyze profitability; review investment portfolios for appropriateness; review offer letters and contracts for consistency with pricing assumptions.
- Develop and understand pricing financial metrics and present reports to Management.
- Provide actuarial support to internal partners (i.e. Implementation and Global Operations) on all pricing issues.
- Perform post-win pricing related functions, such as creating individual cost listing, analyzing price variance, handling amendment calculations, etc.
- Make recommendations on refining current processes to enhance the quality of work and improve efficiency.
- Complete special projects and act as a resource to internal partners on actuarial issues.
Essential Business Experience and Technical Skills:
Required:
- Bachelor's degree in mathematics, statistics, actuarial science or related field.
- 5+ years of actuarial experience; 2+ years pensions-related experience.
- Good computer skills (Excel, VBA).
- Excellent analytical and spreadsheet skills.
- Good communication skills.
- High degree of business and financial acumen.
Preferred:
- Experience with Prophet
- FSA designation with Society of Actuaries
At MetLife, we’re leading the global transformation of an industry we’ve long defined. United in purpose, diverse in perspective, we’re dedicated to making a difference in the lives of our customers.
The wage range for applicants for this position is $100,000-160,000. 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.
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 2023 "World's Most Admired Companies" as well as the 2023 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.
Working at
MetLife
A global provider of insurance, annuities, and employee benefit programs, MetLife serves 90 million customers in over 60 countries, offering life, accident, health insurance, and retirement income solutions.