MetLife

Sells life insurance and workplace benefits

Actuarial Associate

Actuarial & Risk ModellingConfirmed live in the last 24 hours

Full-timeUnited States

About the Job

Requirements

Minimum of 3 years of actuarial experience.
ASA or Pre-FSA designation from the Society of Actuaries.
Good computer skills, including Excel, Access, Visual Basic, C++, or other programming languages.
Analytical and spreadsheet skills.
Communication skills.
Business and financial acumen.
Bachelor's degree in mathematics, statistics, or actuarial science.

Responsibilities

Perform end-to-end case-level pricing for pension risk transfer transactions, including reviewing plan documents; analyzing participant and case data; developing and assessing assumptions; performing calculations and sensitivity analysis; and reviewing offer letters and contracts for consistency with pricing assumptions.
Support assumption development, including behavioral assumptions, for pension risk transfer transactions based on company, case, and industry data.
Provide actuarial support to internal partners, including 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 functions, such as creating individual cost listings, analyzing price variance, and handling amendment calculations.
Support refinement of current processes to enhance work quality and efficiency.

Desired Qualifications

Experience with Prophet.

Role Value Proposition:

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.
Good communication 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.

About the Company

MetLife

Sells life insurance and workplace benefits

MetLife sells life, dental, disability and other insurance, along with annuities and retirement products, to individuals and to employers that offer them as workplace benefits. It is one of the largest US life insurers and a major supplier of group benefits to American employers, with insurance businesses across Asia, Latin America, Europe and the Middle East. Customers pay premiums for coverage, and MetLife invests those funds and also manages money for outside clients through its asset management arm. Its retirement business takes over pension obligations from employers and pays the monthly benefits owed to their retirees. MetLife was founded in 1868 and is based in New York City.

Company size: 10,001+
Company stage: IPO
Headquarters: New York City, New York
Founded: 1868

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