Associate Actuary - Pension Risk Transfer

MetLife • New York, NY

8d • Hybrid

About The Position

Role Value Proposition: The Retirement & Income Solutions US Pension Pricing team is seeking an Actuarial Associate. 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. Core responsibilities include pricing pension risk transfer transactions, performing mortality experience analyses and developing customized solutions for corporate clients. This position will work with Product Management, Contracts, Valuation, ALM, Global Risk Management, Finance, and Investments on a regular basis. This position will also provide actuarial support for the team's projects to enhance processes.

Requirements

• 3-5 years of actuarial experience, including at least 2 years with Annuity, Modeling, and/or Pricing experience
• Bachelor's degree in mathematics, statistics or actuarial science
• Strong computer skills (Excel, Access, Visual Basic, Python or other programming languages)
• Excellent analytical and spreadsheet skills
• Good communication skills
• High degree of business and financial acumen

Nice To Haves

• Experience with Prophet
• ASA designation with Society of Actuaries

Responsibilities

• Perform Pension Risk Transfer annuity pricing. Responsibilities include review of defined benefit plan documents (or summary) and understanding plan provisions; analyzing participant level data; setting actuarial assumptions within company guidelines; performing actuarial calculations and sensitivity analysis; analyzing profitability; reviewing investment portfolios for appropriateness; reviewing offer letters and contracts for consistency with pricing assumptions.
• Develop pricing financial metrics and present reports to Management
• Provide actuarial support to internal partners (i.e. Implementation and Global Operations) on all pricing issues.
• Collaborate with the Contracts team to develop a comprehensive bid letter and term sheet for each case and contracts after the sale.
• Perform post-sales pricing related functions, such as creating individual cost listing, analyzing price variance, handling amendment calculations, etc.
• Make recommendations on refining current processes to enhance the quality of work and improve efficiency.
• Complete special projects and act as a resource to internal partners on actuarial issues.

Benefits

• Our U.S. benefits address holistic well-being with programs for physical and mental health, financial wellness, and support for families.
• We offer a comprehensive health plan that includes medical/prescription drug and vision, dental insurance, and no-cost short- and long-term disability.
• We also provide company-paid life insurance and legal services, a retirement pension funded entirely by MetLife and 401(k) with employer matching, group discounts on voluntary insurance products including auto and home, pet, critical illness, hospital indemnity, and accident insurance, as well as Employee Assistance Program (EAP) and digital mental health programs, parental leave, volunteer time off, tuition assistance and much more!

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees