MetLife

Role Value Proposition: 

This strategic actuarial position will play an integral role on the MetLife Resources (MLR)leadership within Retirement Income Solutions (RIS). The MLR business provides group defined contribution retirement plan products and services in the K-12, higher education, healthcare, governmental, religious, and other non-profit industries.  The scope of the business is ~$13B in assets under administration, $70M in pre-tax earnings, ~13K employer groups and ~280K participants.  

The successful candidate will report to the VP & GM of MetLife holdings and be a member of the MLR leadership team. Demonstrating a commercial mindset and ability to prioritize and deliver results for impact, this role will be the group annuity product strategy and implementation owner for MLR.  This is a visible role to senior leaders within the RIS Leadership Team and other business & corporate functions, allowing opportunities to influence management decisions and drive results. This role will lead the product and pricing strategy for the group defined contribution retirement plan business, which includes leading renewal and RFP pricing and product development and analysis. The role will work closely with all RIS business and functional partners, including actuarial, investments, operations, legal, risk and finance. The candidate will also help create value to RIS through renewal and retention business pricing with their skillset to evaluate and price risk with appropriate returns and all economic drivers.   This candidate will also develop and maintain mutual fund strategy and fund-line ups, exploring cross-sell opportunities within MetLife’s portfolio of tangential businesses. There is the potential for this candidate to use their leadership skillset in the immediate term to coach regional management teams through client interactions and medium- to long-term guide and manage a small team of technical individuals (i.e. data analysis) or actuaries.

Key Responsibilities:

• Provides product positioning and coaching to regional management teams.
• Leads renewal and RFP pricing for existing products clients, as well as leads development and implementation of new products.
• Develops and maintains mutual fund strategy and fund line-up, explores and defines new cross-sell opportunities at MetLife.
• Complete division’s underwriting, including using a predictive mortality model and product specific mortality experience analysis.
• Reviews and certifies all product and pricing assumptions and documentation.
• Prepares presentations and discussions with key stakeholders to agree on mortality assumptions.
• Financial modeling of liability cashflow, reserve, asset return, capital projection, and risk sensitivities.
• Analysis of pricing metrics including return on investment, value of new business, and capital deployed.
• Own the pricing strategy and facilitate collaboration with business leaders at pricing governance meetings.
• Potential to lead a small team of technical colleagues and/or actuaries on data analysis or strategic initiatives as needed.
• Interact with external clients through discussions on active and potential future initiatives.
• Partner closely with business lead, R&D team, investments, finance, risk, legal, and other corporate functions to structure deals to optimize profitable opportunities for MetLife.

Essential Business Experience and Technical Skills:

Required:

• Strong presentation and written communication skills
• Analytical, financial modeling and problem-solving skills, attention to detail
• Leadership qualities to coach colleagues and field force, potential to manage successfully manage and professionally develop small team
• Ability to operate and deliver effectively in a highly-matrixed environment
• Ability to analyze data and make accurate and informed decisions.
• 7+ years of experience in insurance and or reinsurance, particularly group annuities
• Strong knowledge of annuity products, regulatory requirements, and industry best practices, particularly in 403(b), 457, and 401(k) markets.
• Fellow of the Society of Actuaries 
• Bachelor’s degree in actuarial science, math, statistics, economics, or related discipline
• Proven track record of driving operational efficiency and process improvements.

Preferred:

• Experience pricing for group annuities in 403(b) and 457 tax markets, and with case specific mortality underwriting
• Experience using Prophet and other technical actuarial programs
• Experience in Alteryx, Power BI Dashboards, and other data analytics tools