Senior Actuary - Pricing

Date Posted: Feb 2, 2017

Location: Bridgewater, NJ, US, 08807

Company: MetLife

Job Location: United States : New Jersey : Bridgewater  

 

Role Value Proposition: 

MetLife provides Accident and Health (“A&H”) benefits to over one million people in the United States, from small businesses to very large employers, from public sector to private sector employees and their dependents.  These benefits are in the form of several products, including Critical Illness, Accident, Hospital Indemnity, Worksite Short Term Disability, and Permanent Life.  Within MetLife’s Group  Benefits business line, A&H products represent $200 million of annual revenue.  These products play a critical role within MetLife’s global strategy to grow the Group Benefits business, with an annual growth rate target of 30%.  The A&H Pricing team serves as critical business partners within this strategy, working closely with the market segments and product team to manage the business and design and execute strategies to continue to grow and offer valuable benefits to our customers.  

 

The candidate who fills this role will be a senior leader within the A&H Pricing team and the broader Supplemental Health Pricing team.  The A&H products are in the process of being “modernized” to keep up with a rapidly changing and competitive market.  As these products are largely priced from manuals, rate filings are critical.  This role will own all facets of pricing for new plan designs and benefit offerings, implementing these into the pricing manual and executing all corresponding rate filings.  The candidate will serve as a critical partner to the A&H Product Development team and Contracts.  In addition, the candidate will develop relationships across the market segment underwriting teams as they will be involved in case specific pricing escalations, utilizing their decision making capabilities. 

    

Key Responsibilities:  

  • Develop and price new A&H products. This includes participating in product and contract design, developing assumptions and pricing models to price the new products, researching product regulation and filing requirement, preparing actuarial materials for state filing, and responding to state filing objections.
  • Support regulatory filing requirements, including annual rate certifications, and establish schedule to update all pricing factors and documentation on a regular basis.
  • Responsible for A&H experience studies and profitability and projection modeling, including Embedded Value modeling
  • Be involved/fully engaged in case pricing escalations, elevating to A&H Pricing Team Lead as needed.
  • Maintain and enhance existing pricing programs and quoting tool
  • Work with Financial Projection team in developing plan assumptions (sales, persistency, renewal rate, claim trend, etc.) and revising them monthly based on emerging experience and feedback from market segments.
  • Provide pricing and financial support to partners in Product, Sales, Underwriting, Operations and Implementation organizations.
  • Assist the A&H Pricing team lead to develop rising talent to maintain pricing expertise for the long-term.

 

Essential Business Experience and Technical Skills:

  • Fellow of Society of Actuaries preferred, Associate of Society of Actuaries will be considered.
  • Bachelor’s Degree in Actuarial Science, Mathematics or Statistics.
  • 10+ years of actuarial experience; Group insurance actuarial experience highly preferred.
  • Ability to develop and maintain strong relationships with internal and external partners.
  • Strong verbal and written communication skills.
  • Strong technical skills and modeling capabilities: Advanced MS Excel skills and Microsoft Access, including Visual Basic programming.

 

Business Category

Americas Region

 

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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Requisition #: 41366 


Nearest Major Market: New Jersey