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City/Cities
Bridgewater, New York
Country
United States
Working Schedule
Full-Time
Work Arrangement
Hybrid
Travel Required
10%
Relocation Assistance Available
No
Posted Date
01-Nov-2024
Job ID
5047

Description and Requirements


Title: AVP, US Pensions In-Force Management       
Location: New York, NY
Alternate Location: Bridgewater, NJ
Setting: Hybrid
Reports to title: VP Annuity Products
Travel: 0 to 10%

  

The Opportunity

This position is a key member of the Pension Product team working across US Pensions teams and Retirement Income Solutions (RIS) Operations coordinating several important initiatives. Specifically, this role will manage all in-force US Pensions business (e.g., IPGs, PAR Closeouts, buy-outs) and will be the main point of contact for functional partners (e.g., RIS Operations, Compliance), responsible for coordinating resolution of issues as they relate to the suite of products. This role will also oversee a team of Client Relationship managers responsible for the management of legacy group annuity contracts. This role has overall responsibility for the processing and reconciliation for contracts that utilize reimbursement payment arrangements. This position will significantly impact the organization by helping to identify process improvements and work with clients to ensure client needs are met.

 

 How You’ll Help Us Build a Confident Future (Key Responsibilities)

  • Manage all in-force US Pensions products, developing solutions to address client needs as MetLife meets its pension obligations
  • Ensure business is conducted in a manner consistent with contractual terms and regulatory obligations
  • In support of business objectives, develop and implement strategies to manage the in-force block
  • Maintain and strengthen relationships with key clients
  • Key point of contact for RIS Operations, coordinating cross-functional teams to bring resolution to client issues
  • Oversee conversions for clients moving from participating to non-participating contracts; Includes coordination with other groups including Contracts, Legal, Pricing and Operations
  • Manage the lump sum escheatment model ensuring accuracy and documenting processes and changes, as needed.
  • Develop and maintain management reporting (i.e., financial, and operational metrics) to provide a view into activities and overall health of products
  • Overall responsibility and ownership for the end-to-end process for 115 contracts that cover approximately 275,000 lives with bulk check payment arrangements. Responsibilities include:
    • Annual reconciliations 
    • Monthly processing
    • Monthly wire processing
    • Key events reports
  • Maintenance of SOPs relating to the administration of each contract
  • Assist in data reconciliation for contracts converting from bulk check to direct pay arrangements
  • Identify and implement process improvements
  • Oversee a team responsible for the management of legacy group annuity contracts

 

What You Need to Succeed (Required Qualifications)

  • 8+ years of direct experience managing people
  • Life Insurance license (or ability to obtain within a specified timeframe) 
  • Thorough understanding of annuity products and pension benefits 
  • Understanding of financial reporting implications 
  • Strong collaboration skills with the ability to lead individuals without the benefit of a reporting relationship 
  • Strong project management skills 
  • Proficient in Microsoft Word and Excel 
  • Strong quantitative and financial skills 
  • Ability to communicate clearly and concisely both orally and in written form 
  • Attention to detail and accuracy 
  • Proven risk identification and mitigation experience 
  • Prior client management experience required

The salary range for applicants for this position is 157,800 – 210,400. Note this role is also eligible for annual short-term incentive compensation and stock-based long-term incentives.
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.
157,800 – 210,400. Note this role is also eligible for annual short-term incentive compensation and stock-based long-term incentives