MetLife

Position: VP, Chief Investment Officer, EMEA MetLife Insurance Investments

Job Location: London, UK (hybrid working, office based 3 days a week)

We are a company committed by a solid set of principles (see below) and purposes such as diversity, equity, and inclusion. Our working culture provides flexibility and naturally a ‘hybrid’ working model as standard. We want to benefit from the many positives that come by having a more diverse working culture throughout all levels of seniority and lines of business. 

MetLife Success Principles 

• Build Tomorrow – We change and innovate for sustained performance 
• Win Together - We collaborate and empower each other to succeed
• Own It - We deliver for our customers

Department: 

The MetLife Insurance Investments (MII) department is responsible for the development and ongoing management of MetLife’s general account investment strategy in a manner consistent with business needs, effective asset-liability management and relative value across asset sectors.  The MII team partners closely with each line of business (LoB) to establish portfolio strategies that seek to meet/exceed key metric and other business goals.  MII also has oversight responsibilities regarding MetLife Investment Management (MIM) as the primary asset manager for MetLife’s insurance entities and external firms managing assets for MetLife’s general and separate accounts.

The Role: 

MetLife Insurance Investments (MII) team is seeking a senior leader to join as EMEA’s Chief Investment Officer (CIO). The executive in this role is responsible for all elements of investment management for MetLife’s general and separate account assets in EMEA. This includes portfolio asset allocation, asset-liability management strategies & tactics, investment risk management, capital market & achievable investment return input for new business pricing, oversight of separate account assets and general management of skilled investment professionals.The CIO is an active member of EMEA’s extended senior leadership team and will be expected to contribute on a wide range of management issues and initiatives related to the overall business. Success in the role will be determined by investment management skill & results, good partnership with business colleagues and effective management & development of people.

MetLife EMEA currently has $10 billion of total assets under management comprised of $4 billion and $6 billion of general and separate account assets, respectively. It spreads across 23 counties, 20 different currencies and multiple regulatory framework. The biggest Entity is MetLife Europe, with branches in 12 countries and subject to Solvency II. The investment portfolio is well diversified with holdings in term deposits, government bonds, public & private corporate bonds, commercial mortgage loans and private equity. EMEA contributes ~$180 million of annual net investment income and ~$300 million dividend payment per year.

Key Responsibilities:

• Partner across business functions to help achieve regional/local and enterprise goals.
• Drive portfolio analysis and develop solutions related to asset-liability management strategy & tactics and asset allocation to support business goals.
• Support business segments by providing new business pricing guidance and product development support.
• Establish investment portfolio objectives and guidelines.
• Introduce new asset classes, leveraging MIM’s platform, to support business goals. Be alert to opportunities for improvement / optimisation.
• Actively participate in local, regional and enterprise governance processes.
• Provide oversight for Separate Account and Romania Pension business.
• Develop macro allocations, portfolio strategies or other initiatives, often in partnership with MIM.
• Approve or modify specific transactions or other portfolio activity as required by management guidelines.
• Oversee portfolio compliance monitoring with management guidelines and leverage robust reporting structures.

Key Relationships:

• Reports to: EVP & Chief Investment Officer - MII and Regional President, EMEA (matrix manager)
• Direct reports/team: 4 direct reports
• Key Stakeholders: EMEA business units, Finance, Actuarial (both EMEA and enterprise), Global Risk Management, Treasury, and global investment colleagues

Candidate Qualifications:

Essential Business Experience and Technical Skills:

• 15+ years industry and related asset management experience.
• Strong understanding of insurance industry balance sheets, financial analysis and regulatory regimes.
• Experience managing insurance portfolios across multiple return and priority financial metrics.
• Strong quantitative and technical expertise, professional knowledge of portfolio optimization, portfolio construction and hedging strategies for insurance portfolios is a requirement.
• Strong understanding of insurance products, liability modeling and assumptions.
• Strong understanding of fixed income and equity investments and their role within insurance portfolios under multiple regulatory regimes.
• Strategic investment perspective, able to research and formulate opinions & conclusions leading to the development of strategies and tactics.
• Strong people management, team building and organizational skills, proven success in partnering with diverse teams of professionals in a complex, matrixed environment.
• Excellent written and oral communication skills.

MetLife: 

MetLife, through its subsidiaries and affiliates, is one of the world’s important financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds commanding market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. 

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. 

At MetLife, we’re steering the global transformation of an industry we’ve long defined. Founded in 1868, MetLife, through its subsidiaries and affiliates, is one of the world’s important financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. We have operations in more than 40 countries and hold leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. 

“We are one of the largest global institutional investors with $568 billion of total assets under management as of September 30, 2023, ranked #54 on the Fortune 500 list, and honored to have been named to Fortune magazine's list of the "World's Most Admired Companies" for four consecutive years.” 

MetLife employees are united by purpose, guided by empathy and inspired by one another’s unique backgrounds and perspective to make a difference in the lives of our customers, communities, and the world at large.

#MIM

We want to make it simple for all interested and qualified candidates to apply for employment opportunities with MetLife.  If you need assistance and/or a reasonable accommodation due to a disability during the application or the recruiting process, please send a request to ryan.preston@metlife.com 

MetLife is a proud Equal Employment Opportunity and Affirmative Action employer dedicated to attracting, retaining, and developing a diverse and inclusive workforce. All qualified applicants will receive consideration for employment at MetLife without regards to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, national origin, marital or domestic/civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by law. 

MetLife maintains a drug-free workplace.