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Reinsurance - Actuarial Associate

Date Posted: Sep 5, 2021

Location: Dublin, IE

Company: MetLife

Job Location: Dublin

 

MetLife, Inc (“MetLife”) has helped generations of people around the world protect their families and finances. We are one of the world’s leading financial services companies, providing insurance, annuities, employee benefits, and asset management to our individual and institutional customers.

 

Our Dublin Office which is located in the City Centre, is the Operational Headquarters for our Western and Central Europe Region, in addition a significant number of our colleagues are focused on supporting our broader EMEA and Global functions. It is home to our Actuarial, Audit, Compliance, Finance, IT, Legal, Operations, Risk and Treasury Teams.

 

Role Value Proposition: 

The Reinsurance function within MetLife helps the organization to manage risk, optimize capital efficiency contributing to dividend capacity, and to accept risks it otherwise would not, thus contributing to New Business growth. It is led by the Global Head of Reinsurance in New York, with activity in MetLife’s EMEA region lead by an AVP Reinsurance lead and supported by a Reinsurance Actuarial team and Reinsurance Administration team. The Reinsurance Actuarial team are responsible for strategic initiatives, reinsurance solution design, supporting administration, governance and reporting.

 

This role will be to support all aspects of activity in the team, working closely with an existing team of actuaries focusing on the following key areas: 1) Reinsurance transaction development and negotiation, 2) analysis and reporting on the EMEA Reinsurance portfolio  (both qualitative and quantitative) to executive management team(s), 3) supporting administration in particular with respect to the specification of settlement models, and 4) Support implementation of the Reinsurance Change Management Process and monitoring compliance with Reinsurance Policy. This is both a technical role that will develop excellent analysis knowledge and a sound understanding of reinsurance, capital management and Solvency II regulation as well as a role that will develop soft skills in the preparation and presentation of reports to senior stakeholders.

 

This is a perfect job for a part qualified actuary with circa 2-3 years’ experience who wants to move into a more strategic actuarial role whereby you need to understand the numbers, make sense of them and then present them rather than just create them. Full study support will be provided to you to finish your exams and a good work life balance is on offer within this high performing team.

    

Key Responsibilities:  

  • Support aspects of reinsurance analytics and reporting for the EMEA region which will support the assessment of the value created by existing reinsurance.  
  • Support initiatives such as capital optimization investigations, recapture valuations of existing reinsurance arrangements, financial analysis of potential new reinsurance transactions including development of internal pricing models, etc. as required.
  • Support Reinsurance Administration by assisting in defining settlement models, interpreting contract provisions, assisting in responses to queries (audit etc).
  • Support the implementation of Reinsurance policy and Change Management Process requirements.
  • Support the governance requirements for the EMEA Insurance Risk Committee, the MetLife Europe Reinsurance Committee, and other stakeholders in the region.
  • Contribute to Treaty review and negotiation processes.
  • Liaise with sub-regions, local countries and other functions involved in reinsurance initiatives and processes, offering expertise and support as needed.


Essential Business Experience and Technical Skills:

  • Degree (level 8) in actuarial studies, mathematics or statistics
  • 2-3 years’ work experience in an actuarial role, making good progress to date towards a professional actuarial qualification
  • Excellent communication skills are essential as you will be liaising with a wide variety of stakeholders in different departments across the Company
  • Ability to understand complex problems and make recommendations within agreed timescales
  • Ability to work in a multi-disciplinary team and explain technical actuarial issues in non-technical language
  • Willingness to challenge and influence other team members and colleagues
  • Ability to take ownership of tasks and work independently

Preferred:

  • Knowledge of reinsurance
  • An understanding of Life & Non-Life products and benefits


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. We welcome applications from candidates of all backgrounds, ethnicities, genders, religions and sexual orientations.  We strive to find the best candidate for all positions and a diverse range of applicants ensures we widen our talent pool in order to achieve this.  Any applicants with disabilities and neurodiverse conditions, please do let us know about your reasonable adjustments to ensure that we can best meet your needs.

 

Business Category

Finance

 

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.  

 

We ensure to reward and recognise our employees for their contributions and accomplishments at work.   We value our employees’ commitment to their work by offering a competitive and extensive compensation and benefits package. This includes 25 paid holidays, performance-based bonus, health insurance, income protection  and pension benefits. MetLife will also assist in the funding of professional fees for employees where 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

Bring your true self to work every day, receive the development and support you need to perform at your best, opportunities to advance your career and surround yourself with likeminded people. Join MetLife

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.

In order to apply for this position, you need the proper work authorization to work in the country where the position is located and not require relocation assistance.

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 #: 117896