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Assistant Vice President, Global Actuarial Modeling ("GAM") PolySystems Development Lead

Date Posted: Jan 11, 2019

Location: New York, NY, US, 0

Company: MetLife

 

 

 

PositionAVP, Global Actuarial Modeling (“GAM”) PolySystems Development Lead

 

Job Location: New York, NY

 

Department:

 

Global Actuarial Modeling is part of MetLife’s actuarial infrastructure. GAM has developed models for Local Statutory, Solvency II, US GAAP, Economic Capital, Asset Liability Modeling, Hedging Attribution, Embedded Value and various other uses, and is continuing to develop and refine these models. In the process, expertise has been extended to a variety of other modeling systems – notably MoSes and PathWise – in addition to Prophet. Models are maintained, developed, updated, and extended as required. Knowledge and expertise now reside in an entirely MetLife developed team, all permanent employees, with consultants only used for occasional peak work flows. GAM’s responsibilities also extend to business control of the MIAME environment and its associated grid and cloud capabilities, on which many of MetLife’s key actuarial models reside and run.

 

Global Actuarial Modeling has six core functional areas — Prophet and PathWise Development, MoSes Development, Actuarial Model and Tool Development, Quality Assurance, Production and PMO. Although much of GAM’s expertise resides in Wilmington, GAM is a global organization with actuaries working in various geographies and time zones. A significant satellite group is based in both Buenos Aires, Argentina and Noida, India, where actuaries from the Development, Quality Assurance, Production and PMO groups work in coordination with their Wilmington counterparts.

 

 

The Role:

 

  • The job of the Global Actuarial Modeling (“GAM”) PolySystems Development Lead is to partner with IT, GAM Production Team and Business customers, including Regional, Country and Major Line of Business actuaries, to:
  • Lead PolySystems model build including table setups to support all the business customers.
  • Work closely with the business customers to identify the required model changes and system updates that would meet their business requirements.
  • Manage the service engagements with the software vendor (PolySystems) to ensure their deliverables meet our model requirements, including the upcoming implementation of US GAAP Targeted Improvement
  • Support Production team and IT with their production model runs and related model configurations
  • Build tools to enhance the processes for data transformation, table preparation and report generation for the models in PolySystems
  • The responsibilities include leading a growing team on three continents servicing customers in multiple countries and business units.

Key Responsibilities:

  • Customer
    • Manage customer interaction and expectations
    • Align resources to specific customer or region teams based on resource needs
    • Interface with internal customers to understand PolySystems model requirements and to deliver high quality solutions
    • Partner with internal customers to bring them into a PolySystems model release management framework while allowing them to continue to address their needs and ensuring that model enhancements are handled appropriately
  • Technical
    • Lead PolySystems model build, including, but not limited to, setting up all the tables, troubleshooting model run issues, and supporting Business customers with related analysis
    • Fully understand the US GAAP reporting requirements including GAAP Targeted Improvement to ensure the models are compliant with them
    • Partner with IT, GAM Production and Business customers to understand PolySystems model requirements and to build out and enhance the model to meet all the requirements
    • Ensure compliance with PolySystems release process and schedule to optimize the development work that can be achieved in each release to meet practical requirements and to handle customers’ priorities
  • Management
    • Plan, organize, coordinate, and oversee the daily tasks related to GAM PolySystems Development Team
    • Develop effective leadership and teamwork skills in self and others
    • Provide technical direction to assigned team, identifies competency gaps, and collaborates with Actuarial Development to close gaps
    • Manage a team remotely across multiple continents
    • Collaborate with others to create development opportunities aligned with future career aspirations and organizational goals
    • Responsible for the performance evaluation process for team members within assigned team
    • Participate in Strategy Development for Global Actuarial Modeling (GAM)

       

Key Relationships:

 

Reports to: VP, Global Actuarial Modeling Development

Direct reports/team: Two direct reports, team of 6 total

 

 

Essential Business Experience and Technical Skills:

 

  • Professional designation required – career ASA or FSA
  • Bachelor's degree in mathematics, statistics, or actuarial science, and 15+ yrs. related actuarial and management experience
  • Advanced knowledge of insurance products, valuation, and financial reporting
  • Extensive knowledge of and experience with PolySystems
  • Knowledge of US GAAP
  • Demonstrates excellent  analytical and problem solving skills
  • Excellent verbal and written communication skills to analyze, interpret, and address customer needs
  • Displays a proven track record in leading and managing a technology development team
  • Proficiency in actuarial model coding
  • Extensive knowledge of PC software (e.g. spreadsheets, Access, etc.)
  • Ability to lead and manage a team and to work both independently and as a member of a team

     

     

    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.
  • Drives Results – Sets aggressive goals and is accountable for continuously driving improved performance, leading change and ensuring high standards.
  • Seizes Opportunity – Seeks new opportunities and ways to create balanced business growth while improving operational capabilities.
     

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 more than $500 billion in managed assets as of December 31, 2016. We are ranked #42 on the Fortune 500 list for 2017. In 2017, we were named to the Dow Jones Sustainability Index (DJSI) for the second year in a row. DJSI is a global index to track the leading sustainability-driven companies.

           

While we have tremendous respect for the past, we are a company firmly focused on the future. To adapt to a changing world, we are undergoing one of the most dramatic transformations in our history to reinvent how we do business so we can thrive in any environment. We are moving away from a traditional product-development model to one driven by customer insights. We are challenging historical norms by humanizing our industry and designing every customer experience to reflect the modern company we’re becoming. Our goal in everything we do is to offer customers truly differentiated value propositions that allow us to establish clear competitive advantages. We pride ourselves on being a trusted partner to our customers as they navigate life’s twists and turns.

 

At the center of our business strategy is a commitment to One MetLife – collaborating, sharing best practices, and recruiting, developing and retaining the best talent in the industry. We live by our values:  Put Customers First, Be the Best, Make Things Easier, and Succeed Together. They guide how we operate every day. 

 

MetLife is a proud equal opportunity/affirmative action employer committed to attracting, retaining, and maximizing the performance of a diverse and inclusive workforce. It is MetLife's policy to ensure equal employment opportunity without discrimination or harassment based on 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.