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AVP, Head of Pension Risk Transfer (PRT) Implementation

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Date Posted: Sep 15, 2022

Location(s): Remote, US, 0

Company: MetLife

PositionAVP, Head of Pension Risk Transfer (PRT) Implementation

 

Job Location:  Remote

 

Department:

Retirement and Income Solutions (RIS) provides guaranteed income to individuals in a predictable and low risk way and helps companies reduce their risk and remain financially strong. The RIS business, one of the largest U.S. segments in MetLife, has a wide variety of risk solutions, investment and annuity-type products, including US Pensions, Structured Settlements and institutional income annuities which make up the Annuities business.

 

The Role:

The AVP, Head of Pension Risk Transfer (PRT) Implementation will be responsible for managing the implementation of US PRT and certain in-force legacy pensions products. This includes both pre-sale, new business and implementation processes, as well as handling queries arising from Global Operations concerning ongoing day to day transactions associated with these products. This is a visible role to senior leaders within the U.S. Business (USB) and RIS 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, IT, Legal, Tax, and Accounting, to respond to pricing needs across each of the businesses.

    

Key Responsibilities:

  • Oversee U.S. Pensions Implementation Business, including:
    • Implementation of new business
    • Management of Data Transfer
    • Confirmation and sign-off on Funds Transfer
    • Finalization of Contracts and Final Data
    • Management of overall client relationships following insurer selection
    • Responding to queries relating to ongoing service of in force business
    • Managing changes in processes including implementation of new administrative systems, utilization of global operational shared services, and other staffing recommendations
    • Developing marketing strategy and tactical plans in support of achieving business plan objectives
  • Partner with our Annuities Product teams and participate in the research, development and successful roll-out of new product offering and pension initiatives.
  • Represent MetLife in operations discussions with external prospects, clients, and intermediaries on both new and existing opportunities; develop customer centric solutions to their issues/problems
  • Represent MetLife at industry and broker conferences for the Pensions businesses
  • Support ongoing ACE conversions, including acting as business lead on ACE and other MetLife tools needed for operational efficiency, ensuring resources are available during key times, managing organization using multiple platforms, and working with business, IT, controls and audit to ensure the new processes are put in place in a timely, effective, and efficient manner
  • Develop and maintain inventory of key performance indicators (financial and operating) that will be used to drive business performance and manage resources and risk. Develop process for monitoring the KPIs, identifying actionable trends, and communicating to Annuities leadership where appropriate
  • Lead all U.S Pensions interactions with internal and external auditors including coordinating efforts with IT and Global Operations; ensure timely resolution of any SOX and SSAE 16 or other audit issues
  • Report and manage departmental metrics, including customer complaints. When complaints arise, research and respond in a timely manner
  • Maximize organizational efficiency. Review organizational structure periodically and make recommendations and changes where necessary
  • Ensure that MetLife complies with all relevant regulatory changes. Work with other RIS units to implement the changes and ensure that proper controls are in place

 

Key Relationships:

  • Reports to: SVP Annuities
  • Direct reports/team: Six direct reports, seven indirect reports
  • Key Stakeholders: US Pensions, Customer Experience, RIS Operations, Actuarial and other business leaders

 

Essential Business Experience and Technical Skills:

  • BA or BS required
  • MBA, CPA, CFA, Six Sigma or similar professional financial or insurance designations preferred
  • Knowledge of pensions annuities is required
  • Minimum of 10 to 15 years in financial services industry with experience in sales, marketing or client/relationship management. Technical and product knowledge of annuity products (retirees and deferreds) and the processes used to support these products is required.
  • 5+ years of management experience
  • Experience working with external customers, brokers/consultants, fiduciaries, and other Pension advisors
  • Independent thinker with excellent verbal, written communication and presentation skills
  • Strong team management skills; proven ability to hold people accountable for meeting deadlines
  • Direct and influence leadership skills; ability to inspire, motivate, and develop talent
  • Excellent Project Management skills – demonstrated expertise in implementing new operational platforms (or equivalent) on deadline and within budget
  • Collaborative approach; proven ability to work with people from other disciplines including accounting, auditing, pricing, valuation

 

 

      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 $669 billion of total assets under management as of December 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.

 

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.

 

 

The wage range for this position specific to Colorado is $151,000 to $201,300.  The role is eligible for incentive compensation under the MetLife Annual Variable Incentive Plan ("AVIP").  Your eligibility for and award of incentives are governed by the terms of the plan. MetLife offers a comprehensive benefits program that includes Medical, Dental, Life, Vision plus Retirement benefits and Paid Time Off.