Associate Actuary - Annuities & Reinsurance

MetLife; New York (NY); Hybrid; USD 81,000 - 108,000; Full time

Benefits offered by this job

Annual incentive compensation

Hybrid work model

Comprehensive benefits package

Job summary

MetLife actuaries aspire to be trusted advisors in the insurance industry by using their expertise to design and price insurance policies, manage financial risks, and make informed decisions about risk. The RIS Annuity team seeks an Actuarial Associate to provide pricing and technical expertise for pension risk transfer transactions in the US.

This hybrid role requires a minimum of three days in the office per week, with a salary range of $80,800 to $107,700 and potential annual incentive.

Qualifications

• Bachelor's degree in mathematics, statistics or actuarial science.
• Minimum of 3 years of actuarial experience.
• ASA/Pre FSA designation on Society of Actuaries.
• Excellent analytical and spreadsheet skills.
• High degree of business and financial acumen.

Responsibilities

• Perform PRT case level pricing end to end including review of plan documents and data.
• Develop and assess pricing assumptions and sensitivity analyses.
• Review offers letters and contracts for consistency with pricing assumptions.
• Support assumption development for PRT transactions using company data.
• Provide actuarial support to internal partners on pricing issues.
• Collaborate on bid letters and term sheets for each case and contracts.

Skills

Actuarial experience

Analytical skills

Spreadsheet skills

Business acumen

Education

Bachelor's degree in mathematics, statistics or actuarial science

Tools

Excel

Access

Visual Basic

C++

Job description

MetLife actuaries aspire to be trusted advisors in the insurance industry by using their expertise to design and price insurance policies, manage financial risks, and make informed decisions about managing risk and uncertainty. The Retirement & Income Solutions (RIS) Annuity business is seeking an Actuarial Associate, within the US Pension Risk Transfer (PRT) Pricing team. Reporting to the Director, Annuity Pricing, this role will provide actuarial and technical expertise for pension risk transfer transactions and other key strategic & product development initiatives in the Pensions business.

Key Responsibilities:

• Perform PRT case level pricing end to end including review of plan documents; analyze participant & case data; develop & assess assumptions; perform calculations and sensitivity analysis; thorough review offer letters and contracts for consistency with pricing assumptions
• Provide support for assumption development, including spectrum of behavioral assumptions, for PRT transactions based on company, case, and industry data
• Provide actuarial support to internal partners (i.e. Implementation and Global Operations) on 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.
• Provide support to refine current processes to enhance the quality of work and improve efficiency.

Essential Business Experience and Technical Skills:

Required:

• Minimum of 3 years of actuarial experience
• ASA/Pre FSA designation on Society of Actuaries
• Good computer skills (Excel, Access, Visual Basis, C++ or other programming languages).
• Excellent analytical and spreadsheet skills.
• High degree of business and financial acumen
• Bachelor's degree in mathematics, statistics or actuarial science

Preferred:

• Experience with Prophet

Location Expectation: This is a hybrid role requiring a minimum of 3 days per week in office.

The expected salary range for this position is $80,800 - $107,700. This role may also be eligible for annual short-term incentive compensation. All incentives and benefits are subject to the applicable plan terms.

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, paid time off, paid holidays, volunteer time off, tuition assistance and much more!

About MetLife

Recognized on Fortune magazine's list of the "World's Most Admired Companies", Fortune World’s 25 Best Workplaces™, as well as the 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 our core values - Win Together, Do the Right Thing, Deliver Impact Over Activity, and Think Ahead - we’re inspired to transform the next century in financial services. At MetLife, it’s #AllTogetherPossible. Join us!

MetLife is an Equal Opportunity Employer. All employment decisions are made without regards to race, color, national origin, religion, creed, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, marital or domestic/civil partnership status, genetic information, citizenship status (although applicants and employees must be legally authorized to work in the United States), uniformed service member or veteran status, or any other characteristic protected by applicable federal, state, or local law ("protected characteristics").

If you need an accommodation due to a disability, please email us at [e-mail]. 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.