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Actuarial Associate

Date Posted: Nov 17, 2021

Location: New York, NY, US, 10166

Company: MetLife

Job Description

This position will be key member of the Annuities Team, primarily provide actuarial, pricing and technical support to the Torts & Settlements Team with additional responsibilities for the US Pensions and Institutional Income Annuities teams.  Torts & Settlements is responsible for the P&L of the T&S products including product manufacturing, pricing, and execution and issuance on contracts.  Products include Structured Settlement Annuities, post-settlement annuities, Funding Agreements and Critical Injury Insurance.

 

Principal Responsibilities:

  • Pricing and profitability analysis of individual cases (as per Pricing Governance), providing pricing recommendations
  • Set Rate Book rates for NonQual product
  • Set Rate Book rates for SSA product
  • Generate "Pricing Grid" adjustment factors after each Rate Book reset; more often as needed for updated pricing target
  • Perform, update, and analyze experience of all pricing assumptions and monitor on-going sales
    • Validate SSA Model Office
    • Validate NQ Model Office
    • As needed, create / update Model Office, based on analysis of recent sold cases
  • New Sales and Inforce analysis, encompassing: update, enhance, run and validate the models
    • Includes analysis of results, reconciliation and attribution of changes, communication of results to management and detailed documentation
    • VNB Plan Projections - quarterly, and as requested by Finance (can be additional versions during Plan determination)
    • VNB Actual results - quarterly
  • Proper documentation of all work and models, including assumptions, processes, methodology and results
  • Self-Support Memos (Annual) – SSA and IIA
  • Summarize metrics of new sales and total in force business, monthly
  • Collect and consolidate data for Monthly Metrics Report, shared with Senior Leadership Team
  • Support business by writing customized SQL queries for ad hoc reporting requirements
  • Actuarial support and peer review for IIA and PRT cases

 

Essential Business Experience and Technical Skills:

Required:

  • Bachelor’s degree in actuarial science, mathematics, statistics, or a related field
  • 3+ years of experience in an actuarial / experience analysis role, including programming and/or modeling experience
  • Knowledge of Life Contingencies from Actuarial Exams
  • Strong computer / technical skills
  • Proficient in Excel, macros, Visual Basic, working with large pricing models
  • Strong verbal and written communication skills

 

Preferred:

  • Strong programming skills, especially with Microsoft Excel, Visual Basic, and SQL
  • Demonstrated ability to handle multiple assignments while meeting tight deadlines
  • Demonstrated ability to work both independently and in a team environment

 

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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.

 

 


Nearest Major Market: New York City