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Actuarial

Date Posted: Jun 24, 2019

Location: Brighton, BNH, GB, BN1 4FR

Company: MetLife

                        

Product Development Actuary

 

Brighton (& 1 day from home)

 

What will we do for your career?:

 

Develop you, progress you, challenge you and reward you. The Propositions team at MetLife UK Brighton is a brand new team. With it comes a great opportunity for you to add value. Throughout MetLife people are empowered, and this opportunity is no different. Everybody will deliver, bring new ideas and want to make a difference. It’s your chance to be noticed. MetLife is a growing company. We have new product development ideas, we are challenging  the market! By securing this technical role you will be getting involved in the actuarial control cycle, being part of a dynamic team. We offer you the chance to work on many different actuarial aspects which include pricing and the analysis of many diverse fronts.

 

Role Value Proposition: 

Reporting to the UK Propositions Director, the Product Development Actuary will  lead on all pricing and product development actuarial tasks emanating from Employee Benefits, Individual Protection and Wealth Management (in force business only). This includes liaising with Sales and Underwriting, market research, model development, experience analysis and working closely with any other functions. The successful candidate will need to be technically proficient, deliver quality, in a timely manner, develop junior members and be able to communicate effectively to all relevant stakeholders.

    

Key Responsibilities:   

The role is to lead the pricing and product development needs within the UK Proposition team. The role holder will:

  1. Drive to the Product Development Process
  1. Market pricing analyses
  1. Participation to the definition and application of Product strategy in collaboration with Sales, Marketing, Underwriting, and based on market analysis to optimize existing products and find new opportunities to grow business
  2. Manage and complete all product approval documentation in conjunction with all stakeholders
  3. Review metrics and experience analysis supporting new initiatives
  4. Develop / update scheme underwriting manual in respect of product developments
  5. Ensure there is a customer focus in all aspects of the actuarial control cycle
  1. Financial Modelling and reporting
  1. Review and understand all pricing, reporting, management information and quote models
  2. Review regular experience analysis, report issues to management and propose business actions
  3. Work with Global Employee Benefits (GEB), EMEA and sub-regional functions to ensure we all understand the business, drive forward initiatives and hit targets
  1. BAU Activities
    1. Work closely with sales, operations, underwriting, medical underwriting, reinsurance units and other departments to ensure issues are resolved appropriately and timely
    2. Monitoring of the propositions
    3. Follow and update the Delegations of Authority on margin approvals for EB schemes
    4. Form part of the Proposition leadership team in the UK
    5. Ensure the customer is put at the heart of product development and that we continue to offer products that meet customer needs.
    6. Owning the reinsurance arrangements and managing the contracts we have in place (internal and external)
    7. Actively monitor performance and results of each product introduced
    8. Accountable for the pricing strategy on EB business, ensuring we react appropriately to all relevant market movements
    9. Own the key relationships for escalation of actuarial and pricing issues. Support the Head of Product Actuarial who will oversee pricing models, approvals and other actuarial tasks.
    10. In addition to the duties and responsibilities listed, the job holder may be required to perform other duties as reasonably assigned by the Manager from time to time.
    11. Develop and train junior members of the team, and delegate appropriately. Foster a culture of learning and open communication.
    12. To stand in for the UK Head of Pricing when appropriate.

 

 

 

Essential Business Experience and Technical Skills:

 

Required:

  • A nearly/newly qualified actuary
  • Good technical background i.e. MS Excel (to macro level)
  • The successful candidate must:
    • challenge all areas of work and recommend alternative solutions where appropriate
    • demonstrate actuarial best practices in modelling, report writing and analysis
    • display the ability to work in a small and dedicated team working towards the common goal of delivering competitive and innovative products
    • work with a sense of urgency and purpose
    • be able to show how they are able to drive projects through within timescales
    • demonstrate excellent attention to detail and self-check own work
    • have good communication skills with the ability to interact with different stakeholders
    • reviewing and assessing data analyses, drawing conclusions and making recommendations
    • ensure all work is checked and peer reviewed
    • good project management skills
    • work well with other teams in other functions

 

Preferred:

 

The following should be considered desirable for the role:

  • Good relevant experience and knowledge of the Group Risk or Individual Life Protection market in the UK
  • Proven ability to present and communicate clearly and in an understandable fashion suitable for senior stakeholders and distribution staff
  • Proven ability to analyse the market and deliver this knowledge to relevant audience within MetLife
  • Proven communication of and negotiation of pricing bases
  • Experience in assumption setting
  • Experience in reporting profitability metrics

 

 

Due to holiday, applications will not be reviewed until after the 5th August 2019. Please accept our apologies for any inconvenience cause.

 

MetLife will assist in the funding of Professional Fees for employees were it is relevant and aligned to your position within the organisation.  MetLife reserve the right to make a judgement on whether the subscription is relevant or not to your role as well as cease the payment at any time. This type of subscription will not incur “benefit in kind” tax. 

 

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 proud to be an equal opportunity employer.  We are committed to attracting, retaining and maximizing the performance of a diverse and inclusive workforce.  It is the policy of MetLife to ensure equal employment opportunity without discrimination on any basis protected by law.

For immediate consideration, click the Apply Now button. You will be directed to complete an on-line profile. Upon completion, you will receive an automated confirmation email verifying you have successfully applied to the job.

Requisition #: 110277 

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