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Chief Investment Officer, MetLife Japan

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Date Posted: Aug 4, 2022

Location(s): Tokyo, JP

Company: MetLife

Position: Chief Investment Officer, MetLife Japan

 

MetLife Investments – Affiliated Insurance Companies (AIC) Investment Management

 

Job Locations: Tokyo, Japan

 

The Role: MetLife Investments AIC Investment Management (AIC IM) team is seeking a senior leader to join MetLife Japan (MLJ) as Chief Investment Officer (CIO). The executive in this role is responsible for all elements of investment management for MLJ’s general and separate account assets. This includes portfolio asset allocation, asset-liability management strategies & tactics, investment risk management, capital market & achievable investment return input for new business pricing, oversight of affiliated and external asset managers, management of a local commercial real estate asset origination team and general management of skilled investment professionals.

 

The CIO is an active member of MLJ’s executive management committee and will be expected to contribute on a wide range of management issues and initiatives related to the overall business. Success in the role will be determined by investment management skill & results, good partnership with business colleagues and effective management & development of people.

 

The organization: MLJ is MetLife’s largest international subsidiary with total assets under management of $121 billion comprised of $119 billion and $2 billion of general and separate account assets, respectively. MLJ initiated operations in 1973 as the first foreign owned life insurance company in Japan. The company offers a broad range of products including life, accident & health, and asset formation products to individual and institutional customers through diverse distribution channels such as career agents, independent agents, direct marketing, and banks. The investment portfolio is well diversified with holdings in government bonds, public & private corporate bonds, structured finance, commercial mortgage loans, real estate equity and corporate equity. It is also a multi-currency portfolio with significant holdings in Yen, US Dollars and Australian Dollars. Financial derivatives are used extensively to hedge risk. Annual investable cash flow exceeds $12 billion per year. Annual net investment income from the portfolio exceeds $3 billion annually.

 

MetLife Investments is the enterprise’s collective investment function. It is comprised of MetLife Investment Management (MIM) and AIC Investment Management (AIC IM). MIM is a registered investment advisor and responsible for asset origination and certain portfolio management responsibilities. MIM also has external, 3rd party clients. AIC IM provides the insurance investment function and is dedicated to managing the investment portfolios of MetLife’s affiliated insurance companies. The primary focus is asset allocation, asset-liability management, and professional investments services to MetLife businesses.

 

Key Responsibilities:

 

  • Participate on the MLJ executive leadership team and partner across business functions to help achieve segment, legal entity, and enterprise goals.
  • Drive portfolio analysis and develop solutions related to asset-liability management strategy & tactics and asset allocation to support business goals.
  • Support business segments by providing new business pricing guidance and product development support.
  • Establish investment portfolio objectives and guidelines.
  • Actively participate in local, regional and enterprise governance processes.
  • Monitor the performance of internal / external asset managers and be alert to improvement opportunities.
  • Develop macro allocations, portfolio strategies or other initiatives, often in partnership with MIM.
  • Approve or modify specific transactions or other portfolio activity as required by management guidelines.
  • Oversee portfolio compliance monitoring with management guidelines and leverage robust reporting structures.

 

 

Key Relationships:

 

  • Reports to: EVP & Chief Investment Officer - AIC and EVP GM Japan (matrix manager).
  • Staff: 27 with 9 direct reports.
  • Key Stakeholders: Japan business units, Finance, Global Risk Management, Treasury, and global investment colleagues.

 

 

Candidate Qualifications:

 

Essential Business Experience and Technical Skills:

 

  • 15+ years industry and related asset management experience.
  • Japanese language skill a strong positive but not a requirement.
  • Strong understanding of insurance industry balance sheets, financial analysis and regulatory regimes.
  • Experience managing insurance portfolios across multiple return and priority financial metrics.
  • Strong quantitative and technical expertise, professional knowledge of portfolio optimization, portfolio construction and hedging strategies for insurance portfolios is a requirement.
  • Strong understanding of insurance products, liability modeling and assumptions.
  • Strong understanding of fixed income and equity investments and their role within insurance portfolios under multiple regulatory regimes.
  • Strategic investment perspective, able to research and formulate opinions & conclusions leading to the development of strategies and tactics.
  • Strong people management, team building and organizational skills, proven success in partnering with diverse teams of professionals in a complex, matrixed environment.
  • Excellent written and oral communication skills.

 

 

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.
  • Seizes Opportunity – Seeks new opportunities and ways to create balanced business growth while improving operational capabilities.
  • Focuses on Customers – Promotes customer centricity and ensures focus on creating great customer experiences to achieve competitive advantage.
  • Drives Results – Sets aggressive goals and is accountable for continuously driving improved performance, leading change, and ensuring high standards.
  • Motivates People – Gains people commitment to achieve business objectives through clear communication of the company’s vision and flexing leadership styles to inspire high performance.
  • Grows Talent – Inclusively and pro-actively develops talent, empowers individuals, and manages diverse teams to drive engagement and performance.
  • Models our values – Creates a culture that promotes the company’s values and standards through role modeling, accountability, and ownership of decisions.

 

 

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 $670 billion of total assets under management as of December 31, 2021. We are ranked #48 on the Fortune 500 list for 2020. 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.

 

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.