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Benefit Calculation Analyst II

Date Posted: Nov 29, 2017

Location: Alpharetta, GA, US, 30022

Company: MetLife

Job Location: United States: Alpharetta, Georgia 

 

Job Summary:

  • Prepares and reviews pension benefit calculations by reading and interpreting contract language to find allowable options and methods of calculation
  • Researches contract listings and other records to determine exact defined benefit purchased for annuitant
  • Troubleshoots mainframe calculations, develop calculation spreadsheets and other miscellaneous calculation tools
  • Interprets requests and interacts with other departments to obtain needed results, assists with building, testing and moving new products to production
  • Assists with new sales of Closeout annuity contracts
  • Work on special projects as assigned

    

Functional Responsibilities:

  • Prepare and review pension benefit calculations within specified timeframes
  • Locate contract specified in request; determine personal information and exact defined benefit purchased for annuitant, and cross- check annuitant’s request against contract parameters to determine eligibility 
  • Using appropriate method (spreadsheet, manual, etc) perform pension benefit calculation 
  • Send calculation to the checker to verify accuracy 
  • Upon receipt of calculation which requires review, verify the calculations’ accuracy and scan into the imaging system 
  • If inaccuracies are found, send back to analyst for recalculation.  Address annuitant’s follow-up questions
  • Prepare contracts for automated calculation
  • Review contracts to be loaded and interpret contract language to determine parameters   
  • Create and perform User Acceptance Testing
  • Ensure the overall successful transition of new sales from bid specs through to final contract and full administration 
  • Review bid specs to contract for accuracy. Generated needed rate batteries
  • Verify calculation methodology is clearly defined. Create and or review sample calculations
  • Confirm the calculation viability of newly sold contracts 
  • Review offer letters on new contracts to ensure calculation viability
  • If additional verification is required submit questions to pricing or contract unit or client
  • Review samples of calculation provided by client’s actuary
  • Provide conversion tables per contract.  Review final contract draft
  • Provide training to new benefit calculation analysts and administrators
  • Resolve calculation issues and build effective relationships with internal partners 
  • Upon request generate a conversion table and send it to the pricing unit for verification if needed.  Make necessary modifications
  • Verify lump sum quotes using new pension protection act rules

 

Essential Business Experience and Technical Skills:

  • Bachelor’s degree in Math or Actuarial Science preferred
  • 3-5 years of related work experience

Key Competencies, Qualifications and Skills, Preferred:

  • Excellent analytical and mathematical skill set
  • Able to work effectively independently and as a team player
  • Excellent organizational and time management skills
  • Excellent verbal and written communication skills
  • High level of accuracy and attention to detail
  • Understanding of pension products and operations
  • Working knowledge of actuarial concepts and calculation methods
  • Good knowledge of the IRS code, rules and regulations
  • Able to read and interpret defined benefit defined benefit contract language
  • Familiar with all types of defined benefit plans
  • Able to identify and meet customer needs
  • Proficient in Microsoft Office Suite, Lotus Notes, and mainframe system and internal software programs

 

Business Category

Operations

 

Number of Openings

1

 

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.” 

 

 

MetLife is a proud equal opportunity/affirmative action employer committed to attracting, retaining, and maximizing the performance of a diverse and inclusive workforce. It is MetLife's policy to ensure equal employment opportunity without discrimination or harassment based on 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.

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Nearest Major Market: Alpharetta
Nearest Secondary Market: Atlanta