MetLife

The Team You Will Join 

The Senior Pricing Actuary role involves managing actuarial pricing, modelling and reporting in the UK Product team across Employee Benefits and Individual Protection. This includes pricing for product developments, reinsurance arrangements, model development, financial reporting, experience analysis and working closely with other functions.

The Opportunity 

The Senior Pricing Actuary leads actuarial pricing, modelling, and reporting for Employee Benefits and Individual Protection. This Senior Pricing Actuary role is crucial for optimizing reinsurer relationships, ensuring accurate financial modelling, and contributing to product development. At MetLife, this Senior Pricing Actuary role provides essential actuarial expertise to support pricing strategies and ensure product financial stability, maintaining our competitive edge.

The Senior Pricing Actuary supports MetLife's mission to enhance customer wellbeing by developing robust pricing models and accurate reporting for sustainable insurance products.

Joining MetLife offers a dynamic environment where contributions are valued. This Senior Pricing Actuary provides professional growth and the chance to impact the company's financial health. Success requires strong technical skills, analytical thinking, and effective communication. The ideal candidate will excel in financial modelling, actuarial principles, cross-functional teamwork, and leadership, including mentoring part-qualified actuarial students.

• Lead actuarial pricing, modelling, and reporting for Employee Benefits and Individual Protection.
• Develop towards succession of the current Head of Pricing and deputize for the Head of Product, Data and Underwriting.
• Optimize relationships with internal and external reinsurers.
• Ensure accurate reflection of reinsurance arrangements and capital calculations in models.
• Contribute to the product development process and manage product approval documentation.

This Senior Pricing Actuary role collaborates closely with Global Employee Benefits, EMEA functions, and other internal stakeholders. MetLife fosters an environment where every perspective is heard and respected, driving innovation and success through teamwork.

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

1. Financial Modelling and reporting

1. Assist in setting and reviewing actuarial assumptions for pricing
2. Assist in developing and maintain pricing, reporting, management information and quote models
3. Assist in accurately reflecting all reinsurance arrangements and capital calculations in models
4. Work with Global Employee Benefits, EMEA and other functions to ensure we collaborate and achieve success

2. Contribute to the Product Development Process

1. Assist in calculating financial metrics and participate in experience analyses and assumptions setting, market research and pricing analyses
2. Assist in managing and completing all product approval documentation in conjunction with all stakeholders
3. Assist in ensuring there is a customer focus in all aspects of the actuarial control cycle

3. BAU Activities
   1. Work closely with other members of the Product team to support ongoing product management and monitoring, and reporting responsibilities 
   2. Collaborate with other functions in the business 
   3. Support monthly Pricing Forum and product of the pack

d.     Relationships with reinsurers (internal and external)

i.        Assist in measuring performance of our reinsurers 

ii.        Assist in maintaining ongoing process to negotiate competitive terms

What You Need to Succeed (Required Qualifications)

• Fellow of the Institute and Faculty of Actuaries with relevant years’ post-qualified experience
• Very strong technical background with MS Office, especially Excel VBA
• The successful candidate must:
  • Have a strong commercial and strategic mindset
  • Experience in the UK protection market
  • Pay attention to detail
  • Take ownership and personal responsibility for delivering timely, high-quality work.
  • Possess strong problem-solving skills
  • Have good communication skills with the ability to interact with different stakeholders.
  • Be able to source and collate data, draw conclusions and present findings.
  • Learn quickly from experience
  • Ability to work under pressure
  • Experience in managing and coaching/mentoring others

What Can Give You an Edge (Additional Skills)

• Experience with Python, Alteryx, SQL, Access, and other quantitative software packages
• Innovative and creative mind
• Good research track-record