Actuary

Description and Requirements

The Team You Will Join

MetLife’s Retirement & Income Solutions (RIS) business delivers innovative retirement and benefit funding solutions. RIS is part of MetLife’s U.S. Business and provides business-to-business retirement and benefit funding solutions in specialized financial and insurance markets. This position is in the RIS Life Products area in the Specialized Benefits Resources (SBR) Actuarial. SBR sells products in the Corporate-Owned/Bank-Owned Life Insurance (COLI/BOLI) market where MetLife is a market leader.

The Opportunity

The SBR Actuarial team is seeking an Actuary to support its responsibilities on pricing strategy, quote review, new business implementation, and all Actuarial filings. Reporting to the AVP, SBR Actuarial, this position will work with Valuation, Global Risk Management, and Finance on a regular basis. Within SBR, this actuary will work closely with Sales, Client Services, and Contracts, gaining broad exposure to the business.

How You’ll Help Us Build a Confident Future (Key Responsibilities)

• Develop pricing strategy and provide indicative pricing for large case quotes ultimately requiring governance approval.
• Own development/final review governance decks and present material for quote approval.
• Pricing/modeling to support GA BOLI new business crediting rates.
• Create term sheets for all quotes, support sales directors in presenting materials, answering questions.
• Responsible for ensuring that all product design elements are accurately reflected in policy documents and admin system.
• Review VNB (Value of New Business) actual results for large sold cases.
• Collaborate with finance on model assumptions including crediting rates, COIs, mortality, and the impact of new sales and in-force activity compared to original plan assumptions.
• Provide actuarial memos and actuarial review of policy form filings.
• Support all product tax testing/compliance – e.g., 7702 testing, admin system calculations.
• Financial underwriting of potential bank and insurance company prospects.

What You Need to Succeed (Required Qualifications)

• Minimum of 7 years of actuarial experience.
• Near or recent attainment of Fellow of the Society of Actuaries.
• Advanced Excel and VBA skills.
• Excellent analytical and spreadsheet skills.
• Demonstrated ability to handle multiple assignments while meeting tight deadlines.
• Demonstrated ability to work both independently and in a team environment.
• Good communication skills.
• High degree in business and financial acumen.
• Bachelor's degree in mathematics, statistics, or actuarial science.

What Can Give You an Edge (Additional Skills)

• FSA preferred.
• Proficient in Alteryx or Power BI.
• Broad knowledge of corporate owned or individual universal life and variable universal life products.
• Product pricing experience.

The expected salary range for this position is $114,000-150,000. This role may also be eligible for annual short-term incentive compensation. All incentives and benefits are subject to the applicable plan terms.

Benefits We Offer

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!

About 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 individual and institutional customers. With operations in more than 40 markets, we hold leading positions in the United States, Latin America, Asia, Europe, and the Middle East.

Our purpose is simple - to help our colleagues, customers, communities, and the world at large create a more confident future. United by purpose and guided by empathy, we’re inspired to transform the next century in financial services.

MetLife is an Equal Opportunity Employer. All employment decisions are made without regard to race, color, national origin, religion, creed, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, marital or domestic/civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by applicable federal, state, or local law.

If you need an accommodation due to a disability, please let us know. This information will be held in confidence and used only to determine an appropriate accommodation for the application process.

MetLife maintains a drug-free workplace.