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VP, Retail Life Lead Actuary

Date Posted: Sep 10, 2021

Location: Bridgewater, NJ, US, 8807

Company: MetLife

Department: Financial Management Group (FMG)/US Actuarial and Global ALM

 

The Role: The Retail Life Insurance Lead Actuary leads the group responsible for Stat, GAAP and Tax valuation, Embedded Value, Experience Studies and Asset/Liability Management functions for the Life Product line in MetLife Holdings. As part of that role, the Retail Life Lead Actuary also maintains a line of sight into all actuarial work related to US Retail Life Insurance products (such as policyholder dividend setting, investment strategy, inforce management and reinsurance). This role will have direct and regular contact with regulators and business leaders. This role will have some contact with Executive Group members and the Board of Directors as the board appointed Closed Block Actuary.

 

 

Key Responsibilities:

  • Deliver timely, accurate and auditable reports for GAAP, Statutory, and Tax as well as analysis of financial trends and forecasts
  • Embedded Value delivery
  • Influence investment and asset/liability management strategy via participation in asset/liability management working groups
  • Recommend and obtain approval of policyholder dividend decisions for participating life insurance blocks
  • Set assumptions for life insurance supported by experience studies
  • Establish and promote sound controls throughout the organization through written procedures, cost-effective automation and audit. Ensure that effective internal controls are in place and ensure compliance with GAAP and STAT rules for financial and tax reporting.
  • Maintain strong relationships with senior executives so as to identify their needs and seek full range of business solutions. Manage relationships with critical service providers for reinsurance, external audit, legal and tax counsel, among others.
  • Provide executive management with advice on the financial implications of business activities.
  • Evaluates and advises on the impact of long-range planning, introduction of new programs/ strategies and regulatory action.
  • Support M&A activities as required
  • Modernization of actuarial systems: Support projects to improve valuation systems and input data.

 

Key Relationships:

  • Reports to: SVP, US Actuarial and Global ALM
  • Direct reports/team: 4 directs/23 indirect
  • Key Stakeholders: CFO, MetLife Holdings; SVP, Life and Annuity, MetLife Holdings; Executive Group; Board of Directors

 

Candidate Qualifications:

 

Essential Business Experience and Technical Skills:

  • Fellow of Society of Actuaries (FSA) - 10 years of post-qualification experience preferred
  • 15+ years of actuarial experience within insurance company or consulting.
  • Comprehensive knowledge of life insurance products & actuarial valuation
  • Deep knowledge in US statutory reporting
  • Deep knowledge in US GAAP reporting
  • Knowledge of asset/liability management principles and practice
  • Preferred experience in predictive analytics and knowledge of industry best practice in application in actuarial and insurance risk management strongly preferred.
  • Proven ability to work effectively with internal partners in Actuarial, Product, Risk and Finance organizations.
  • Broad knowledge of financial risk management, actuarial risks, understanding of emerging accounting and regulatory standards, and technology savvy forward thinking attitude with extensive strategic and business improvement experience.
  • A proven leader of people who is able to recruit and develop a top-notch team capable of supporting future growth.  An executive who understands playing the catalyst role in a productive way.
  • Excellent presentation skills and experience in working with senior executives and operating unit companies in business planning and strategy development.
  • Has worked in fast-growth, global organizations.  Hands on, yet extraordinarily strategic.
  • Ability to command credibility and influence outcomes at the highest levels; strong influencing skills and the ability to operate effectively within a decentralized, geographically dispersed organization.

 

 

Leadership Competencies:

  • Thinks Strategically – Sets direction aligned to the company’s strategy, applying external and global perspective to meet local and global needs.
  • Creates Partnerships – Authentically builds trusted relationships and collaborates across global, diverse and multi-functional teams to successfully drive business objectives.
  • Seizes Opportunity – Seeks new opportunities and ways to create balanced business growth while improving operational capabilities.
  • Drives Results – Sets aggressive goals and is accountable for continuously driving improved performance, leading change and ensuring high standards.


 

MetLife:

MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.

 

We are one of the largest institutional investors in the U.S. with $642.4 billion of total assets under management as of March 31, 2021. We are ranked #46 on the Fortune 500 list for 2021. In 2020, we were named to the Dow Jones Sustainability Index (DJSI) for the fifth year in a row. DJSI is a global index to track the leading sustainability-driven companies. We are proud to have been named to Fortune magazine's 2021 list of the "World's Most Admired Companies." 

       

MetLife is committed to building a purpose-driven and inclusive culture that energizes our people. Our employees work every day to help build a more confident future for people around the world.

 

 

We want to make it simple for all interested and qualified candidates to apply for employment opportunities with MetLife.  For further information about how to request a reasonable accommodation, please click on the Disability Accommodations link below.

 

 

MetLife is a proud Equal Employment Opportunity and Affirmative Action employer dedicated to attracting, retaining, and developing a diverse and inclusive workforce. All qualified applicants will receive consideration for employment at MetLife without regards to 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.

 

 

Requisition #: 119499