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Actuarial Associate - Actuarial Development Program

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Date Posted: Apr 30, 2022

Location(s): New York, NY, US, 10166

Company: MetLife

Role Value Proposition: 

MetLife’s US Actuarial Development Program (ADP) focuses on developing future leaders of MetLife who will create innovative business solutions based on actuarial principles and contribute to the success of the company. As part of the professional development process, participants (known as “actuarial students”) are expected to rotate to new actuarial assignments approximately every two years within core areas of MetLife’s businesses. Work experience gained will enable participants to become well-rounded actuaries and knowledgeable in several areas of actuarial practice. Such areas of practice may include product development, pricing, valuation, actuarial modeling, risk management, asset liability management, finance, investments, underwriting, emerging actuarial issues, technology, data analysis and auditing. The Actuarial Development program (ADP) will provide study days, study material/exam fee reimbursements, and other support to participants to help them pass their actuarial exams. As a student in the ADP, participants are expected to balance their work responsibilities with their actuarial studies.

 

This actuarial role will play an integral role in the recently created UK Longevity Reinsurance line of business of Retirement Income Solutions (RIS). The RIS business, one of the largest U.S. segments in MetLife, has a wide variety of products, including pension risk transfer products, GIC/Funding agreements, stable value products, structured settlements, Institutional Income Annuities and PRB & SBR Products. 

 

The successful candidate will report to the AVP UK Longevity pricing lead and support the quantitative analysis in transaction underwriting, pricing, and closing in alignment with MetLife’s enterprise strategy. The role will work closely with all RIS business and functional partners, including actuarial, investments, operations, legal, risk and finance. The candidate will help to evaluate risk and ensure that it is priced appropriately for UK Longevity Reinsurance transaction to create value for RIS.

 

Key Responsibilities:  

  • Mortality underwriting including using predictive mortality model and deal specific experience analysis
  • Financial modeling of liability cashflow, reserve and various capital projection & risk sensitivities
  • Analyze and propose assumptions for marital status and spouse age for unknown population
  • Support and develop pricing quotes for longevity reinsurance business transactions
  • Partner closely with business lead, R&D team, investments, finance, risk, legal, and other corporate functions to structure deals to optimize profitable opportunities for MetLife
  • Participants will also prepare for and take challenging actuarial exams administered through the Society of Actuaries (SOA) and work towards becoming qualified as Fellows of the SOA (FSA designation).

 

Essential Business Experience and Technical Skills:

Required:

  • Bachelor's degree in actuarial science, mathematics, statistics, financial engineering or a related field
  • GPA of 3.3 or higher
  • Passed exam P.  Additional passed exams may be required based on the particular position being filled
  • Committed to completing the Society of Actuaries' educational requirements to attain the FSA designation. This can be illustrated through passed exams, work experience, affiliation with actuarial organizations and clubs, and analytical degrees
  • Strong leadership skills
  • Strong computer/technical skills, with good knowledge of one or more programming languages
  • Strong verbal and written communication skills

 

Preferred:

  • Experience pricing or reserving with insurance products
  • Background performing and analyzing experience studies
  • Experience using Alteryx and Prophet

 

Business Category

Retirement & Income Solutions

 

Number of Openings

1

 

#PRGADP

 

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:

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 #: 123126

 


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