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VP, Head of RIS Annuity Pricing

Date Posted: Jan 14, 2022

Location: New York, NY, US, 10166 Bridgewater, NJ, US, 8807

Company: MetLife

Position: VP, Head of RIS Annuity Pricing

 

Job Location: 200 Park Avenue; Bridgewater, NJ

 

The Role: This position is responsible for providing actuarial, technical, and strategic direction for RIS Annuities, a centralized actuarial and pricing function supporting the products offered by the US Pension Risk Transfer (“PRT”), Structured Settlements and Institutional Income Annuities (“IIA”) businesses. This is a visible role to senior leaders within the Executive Leadership Team and other business & corporate functions, allowing opportunities to influence management decisions and drive results. This position interacts closely with all areas of RIS, including Product, Contract, Implementation, Operation, as well as with enterprise stakeholders such as Finance, Risk, Valuation, Investment, Legal, Tax, Accounting, and Treasury to respond to pricing needs across each of the three businesses. This position also has oversight of ad hoc pricing related work that is required to accurately administer in-force annuity business.

 

Key Responsibilities:

  • Recognized as MetLife’s leading pricing expert across the RIS Annuities business.
  • Lead Annuities Pricing team to provide actuarial, pricing, financial, and technical analytics to respond to each new business pricing request.
  • Lead Annuities Pricing team to provide actuarial analyses and documentation to Audit, Risk, Global Operations, and Actuarial Valuation for all annuities products
  • Lead and support the strategy and vision to accelerate profitable growth of annuities sales
  • Lead all aspects of pricing related work including actuarial modeling, financial analysis, scenario testing, and all liabilities pricing issues to achieve sales, ROI and VNB targets for the Annuity products
  • Provide guidance for appropriate pricing framework (Statutory, GAAP, PBR, etc.)
  • Partner and collaborate with Finance, Investment, Legal, Valuation, Product, Contract to develop proposals that ensure appropriate pricing and profitability assumptions.
  • Make supportable recommendations to optimize the risk/return profile.
  • Work with the business on the design and pricing phase for select initiatives.
  • Collaborate with Technical, Finance and Risk teams to review and challenge pricing and capital assumptions and methodologies and to improve competitiveness and profitability.
  • Collaborate with RIS Operations to support in-force business including benefit calculations, contract conversions, factoring and other business administration needs.
  • Lead by example to reinforce a culture of listening, accountability, collaboration, and transparency, creating an inclusive and diverse environment where all voices are encouraged.
  • Lead as an active, respected voice and presence in the PRT and IIA market, represent MetLife as a visible, influential pricing leader at industry events and in client meetings.
  • Partner to maximize relevant existing and emergent technology platforms and tools to enable a new level of end-to-end automation of complex pricing process.
  • Manage a team of up to 25 actuaries and actuarial consultants to support key responsibilities above, including ~6 direct reports.

 

Key Relationships:

  • Reports to: SVP Annuities
  • Direct reports/team: Five direct reports, fifteen indirect reports
  • Key Stakeholders: US Pensions, Structured Settlements, and Institutional Income Annuities business leaders

 

Essential Business Experience and Technical Skills:

  • FSA and BS required (in Finance, Accounting, Actuarial Science or similar).
  • MBA, MAAA, CPA, CMA, CFA, or similar professional financial designations preferred.
  • Proven business leader with 15+ years’ experience in pricing for annuities business, ideally in PRT and structured settlement; valuation, and modelling for annuity products
  • Broad and deep knowledge of buy-in, buy-out, qualified and non-qualified pension products, defined contribution and defined benefit pension plans, competitive trends, and U.S. regulatory environment for retirement annuities.
  • Strategic and analytical thinker with ability to focus on details, synthesize broad amount of information into actionable information for executives.  Able to quickly spot issues and develop a recommended approach.
  • Proven ability to use data to drive decisions and competitive insights
  • Strong skills and solid background in leading change in an evolving environment
  • Exceptional quantitative and communication skills. Able to concisely present orally and in presentations.
  • Self-starter with ability to effectively manage multiple processes and priorities simultaneously
  • Team player with ability to build broad relationships internally and externally
  • Excellent finance and accounting skills with knowledge of key current and emerging issues impacting strategic transactions
  • Proven ability to act strategically, make decisions, manage resources and build partnerships

 

      MetLife Success Principles

  • Experiment with Confidence – Courageously learn and test new ideas without fear of failure
  • Act with Urgency – Demonstrate speed to action with agility and determination
  • Seek Diverse Perspectives – Source ideas and feedback to expand thinking and make informed decisions
  • Seize Opportunity – Drive responsible growth and identify areas for continuous improvement
  • Champion Inclusion – Foster an environment where everyone is valued, heard, and can speak up
  • Create Alignment – Partner with others across the organization with candor and transparency
  • Take Responsibility – Be accountable and act in pursuit of the right outcomes
  • Enable Solutions – Anticipate and address obstacles while managing risk
  • Deliver What Matters – Execute meaningful priorities and follow through on commitments


 

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.  If you need assistance and/or a reasonable accommodation due to a disability during the application or the recruiting process, please send a request to accommodations@metlife.com or call our Employee Relations Department at 1-877-843-3711.

 

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.

 

 

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