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AVP External Compensation

Date Posted: Oct 12, 2021

Location: Bridgewater, NJ, US, 8807

Company: MetLife

Position:  AVP, External Compensation

The Role: 
Accountability for External Compensation for Group Benefits with an average annual expense of over $500M and associated to $17.5B in broker related in force premium across all US markets for Group products excluding P&C.  Working with cross functional resources in Finance, Sales, Service, Broker Operations, Legal, Risk, Compliance and Product and Pricing to ensure appropriate governance established for new and existing programs, design, and operationalization of new and existing programs, and maximizing internal and external awareness and understanding of compensation programs. 

Role provides subject matter expertise to support regulatory and risk management assessment at both a strategic and case level evaluation of compensation requests and considerations as they arise both in proactive and reactive situations.  Reliable reporting to senior management of existing program and understanding and identifying potential financial impacts based on results of program in marketplace through the establishment of tracking mechanism and analytical assessment of results.

Proactively proposed refinements and changes of existing compensation related procedures to management to effectively uncover and manage business trends.

Strong financial acumen, understanding of broker business, and detailed level understanding of compensation required.  Work is done through leading a team of director level resources and managing strong cross functional relationships throughout MetLife.

Key Responsibilities:

•    Establish thorough governance command and controls of all external compensation programs
•    Provide effective field support to maximize ROI of Supplemental Compensation Program and other initiatives
•    Support worksite growth strategy through regular competitive review of critical external compensation levers
•    Develop projections and provide analytical assessment of results to drive improved financial awareness of compensation programs
•    Identify design or process changes in a timely manner to existing compensation programs
•    Operationalize new and existing programs end-to-end partnering with key resources across Sales, Service, Finance, Underwriting, Product/Pricing, Legal, Compliance and Broker Operations
•    Produce timely and accurate reporting around current state of compensation programs 
•    Case level/program level engagement in assessment of compensation requests/ escalations through subject matter expertise inclusive of regulatory and financial considerations, ability to support and operationalize changes, and general end-to-end viewpoint of all existing compensation programs.
•    Provide oversight of compensation related issue resolution 

Key Relationships:
•    Reports to VP, Group Compensation
•    Direct reports/team: 4 direct reports 
•    Key Stakeholders: Finance, UW, Broker Operations, Sales, Legal, Risk, Compliance, Product and Pricing, Service

Candidate Qualifications:
   Essential Business Experience and Technical Skills:
    10 + years of experience in Insurance working with multiple functions inclusive of Sales
    Understanding of the Group Benefits space and Brokerage Business.
    Strong financial acumen
    Ability to develop strategic & trusted partnerships with internal & external partners
    Demonstrated ability to engage, support and influence in a cross functional environment at all levels of leadership
    Ability to work in fast paced environment
    Strong leadership skills and ability to motivate teams 
    Strong interpersonal and negotiation skills 
    Excellent written and oral communication skills
    Strong analytic skills and ability to think strategically
    Expertise in Excel & PPT
    Undergraduate degree required, MBA or other advanced degree preferred

      MetLife Success Principles 
•    Experiment with Confidence – Courageously learn and test new ideas without fear of failure
•    Act with Urgency – Demonstrate speed to action with agility and determination 
•    Seek Diverse Perspectives – Source ideas and feedback to expand thinking and make informed decisions
•    Seize Opportunity – Drive responsible growth and identify areas for continuous improvement
•    Champion Inclusion – Foster an environment where everyone is valued, heard, and can speak up
•    Create Alignment – Partner with others across the organization with candor and transparency
•    Take Responsibility – Be accountable and act in pursuit of the right outcomes
•    Enable Solutions – Anticipate and address obstacles while managing risk
•    Deliver What Matters – Execute meaningful priorities and follow through on commitments