Actuary (RIS Pricing Models)

Location:

• Posting Location: New York, New York
• Country: United States

Working Schedule: Full-Time

Work Arrangement: Hybrid

Travel Required: 10%

Relocation Assistance Available: Yes

Posted Date: 13-Feb-2025

Job ID: 6648

Description and Requirements

Role Value Proposition:

This actuarial role will be responsible for ownership and development of pricing models for RIS. The RIS business, one of the largest U.S. segments in MetLife, has a wide variety of products, including pension risk transfer, GIC/Funding agreements, stable value, structured settlements, Institutional Income Annuities, UKL, and PRB & SBR.

The successful candidate will report to the AVP Pricing Frameworks and be responsible for the development of ever-evolving processes and tools to support pricing teams across RIS. The role will work closely with all RIS business and functional partners, including Actuarial, Investments, Risk, Reinsurance, and Finance.

This is an exciting role and opportunity for a candidate who enjoys product-based work. This candidate will be a part of the entire pricing process of a key MetLife business, understand profitability drivers of the business, and learn how all pieces of the pricing process fit together. The candidate will work extensively with liability projections and reserving, asset modeling, assumption development, and risk monitoring.

This position supports three major areas crucial to the success of RIS:

1. Pricing consistency across all RIS products
2. Actuarial support for all RIS pricing teams and actuaries, including product development and implementation
3. Support ongoing special projects such as pricing methodologies for new and unusual product designs

Key Responsibilities:

• Provide technical and analytical support to the product development and implementation activities in RIS.
• Develop Excel, Prophet, and other financial models to support the analysis and development of new and existing products. This includes pricing scenarios, cash flow projections, and ROI calculations.
• Update Excel, Prophet, VBA Macros, and other tools as requested by business.
• Explore new pricing modeling methodologies, pricing metrics, product designs, new accounting or regulatory requirements.
• Research new ways to improve process run time, automate, reduce errors, improve controls, etc.
• Own the golden copy of each model and its documentation for governance purposes.

Essential Business Experience and Technical Skills:

Required:

• Bachelor’s degree in actuarial science, math, statistics, economics, or related discipline.
• FSA or pre-FSA.
• 5-10 years of experience in insurance and or reinsurance.
• Strong skills using Microsoft Excel.
• Strong analytical, financial modeling, and problem-solving skills.
• Good presentation and written communication skills.
• Interest in technology, automation, process improvement.
• Customer-focused mentality.

Preferred:

• Experience pricing or reserving with insurance products.
• Experience using Excel VBA, Alteryx, Prophet, or some other projection software.
• Strong knowledge in Retirement products.
• Good understanding of income statement and balance sheet.

The salary range for applicants for this position is $114,000 - $152,100.

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:

Recognized on Fortune magazine's list of the 2024 "World's Most Admired Companies", Fortune World’s 25 Best Workplaces™ for 2024, as well as the 2024 Fortune 100 Best Companies to Work For ®, 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. Join us!

Equal Employment Opportunity/Disability/Veterans:

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.