Associate Actuary - Annuities & Reinsurance

MetLife; New York (NY); On-site; USD 120,000 - 180,000; Full time

Job summary

MetLife’s Retirement & Income Solutions business seeks an Associate Actuary to provide actuarial, pricing, and technical support for reinsurance opportunities across the Annuity portfolio. The role collaborates with RIS teams and enterprise stakeholders to implement pricing and analysis.

The ideal candidate has 3-5 years actuarial experience (2+ years in reinsurance), a mathematics/statistics/actuarial degree, and an ASA/Pre FSA preferred. Strong coding and Excel skills are a plus.

Qualifications

• Bachelor's degree in mathematics, statistics or actuarial science or related discipline.
• 3-5 years actuarial experience, including at least 2 years with reinsurance.
• ASA/Pre FSA designation on Society of Actuaries is preferred.
• Strong quantitative and communication skills; concise presentation to technical and non-technical audiences.
• Ability to manage multiple projects and priorities.

Responsibilities

• Perform actuarial, pricing, financial, and technical analysis to support reinsurance opportunities for new and inforce business.
• Partner with R&D and Pricing Frameworks teams for model updates, validation, and documentation.
• Develop future-state operating model for the Annuity Pricing teams for live reinsurance pricing and post-sale procedures.
• Drive implementation of reinsurance within Annuity Pricing teams with robust training and documentation.
• Support non-reinsurance BAU with pricing and profitability analysis across all Annuity businesses.

Skills

Reinsurance analysis

Pricing

Actuarial modeling

Communication

Excel

Access

Visual Basic

Prophet

Project management

Education

Bachelor's degree in mathematics, statistics or actuarial science

Tools

Excel

Access

Visual Basic

Prophet

Job description

The Retirement & Income Solutions (RIS) Annuity business is seeking an Associate Actuary. Retirement and Income Solutions (RIS) provides guaranteed income to individuals in a predictable and low risk way and helps companies reduce their risk and remain financially strong. The RIS business, one of the largest U.S. segments in MetLife, has a wide variety of risk solutions, investment and annuity-type products, including US Pensions, Structured Settlements and Institutional Income Annuities which make up the Annuities business.

The Role

The successful candidate will provide actuarial, pricing, and technical support to the Annuity business teams by evaluating and implementing reinsurance opportunities. This role will support all annuity businesses seamlessly and flexibly where and when support, leadership, and analysis is needed.

This position interacts closely with all areas of RIS, including R&D, Pricing Frameworks, Product, Contracts, Operations, as well as with enterprise stakeholders such as Reinsurance, Finance, Actuarial, Risk, Investments, and Legal.

Key Responsibilities

• Perform actuarial, pricing, financial, and technical analysis to support reinsurance opportunities for new and inforce business.
• Partner with R&D and Pricing Frameworks teams to perform model updates, validation, and documentation
• Develop future-state operating model for the Annuity Pricing teams for live reinsurance pricing including post-sale procedures & requirements; identify & incorporate all stakeholders required for seamless implementation & administration
• Drive implementation of reinsurance within Annuity Pricing teams by ensuring models and calculations are embedded into broader pricing processes; ensure robust training and documentation
• Support non-reinsurance BAU as priorities dictate; includes pricing and profitability analysis of individual cases/sales in all Annuity businesses, analyzing experience, recommending process improvements & automation, and partnering cross-functionally on projects

Required

• Bachelor's degree in mathematics, statistics or actuarial science or related discipline
• 3-5 years actuarial experience, including at least 2 years with reinsurance experience
• ASA/Pre FSA designation on Society of Actuaries is preferred.
• Strong quantitative and communication skills. Able to concisely present orally and in presentations, to both technical and non-technical audiences.
• 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