Actuarial Associate - PRT

Description and Requirements
Role Value Proposition:
MetLife actuaries aspire to be trusted advisors in the insurance industry by using their expertise to design and price insurance policies, manage financial risks, and make informed decisions about managing risk and uncertainty. The Retirement & Income Solutions (RIS) Annuity business is seeking an Actuarial Associate, within the US Pension Risk Transfer (PRT) Pricing team. Reporting to the Director, Annuity Pricing, this role will provide actuarial and technical expertise for pension risk transfer transactions and other key strategic & product development initiatives in the Pensions business.
Key Responsibilities:

• Perform PRT case level pricing end to end including review of plan documents; analyze participant & case data; develop & assess assumptions; perform calculations and sensitivity analysis; thoroughly review offer letters and contracts for consistency with pricing assumptions.
• Provide support for assumption development, including spectrum of behavioral assumptions, for PRT transactions based on company, case, and industry data.
• Implement enhancements to the pricing models & support special projects related to new strategic initiatives within the PRT business
• Provide actuarial support to internal partners (i.e. Implementation and Global Operations) on pricing issues.
• Collaborate with the Contract 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.
• Provide support to refine current processes to enhance the quality of work and improve efficiency.

Essential Business Experience and Technical Skills:
Required:

• Minimum of 3 years of actuarial experience.
• Passed at least five SOA Actuarial Exams; ASA designation preferred
• Good computer skills (Excel, Access, Visual Basis, C++ or other programming languages).
• Excellent analytical and spreadsheet skills.
• Good communication skills.
• High degree of business and financial acumen.
• Bachelor's degree in mathematics, statistics or actuarial science.

Preferred:

• Experience with Prophet

The salary range for applicants for this position is $77,600 - $103,500.
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" 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. At MetLife, it's #AllTogetherPossible . Join us!
Equal Employment Opportunity/Disability/Veterans
If you need an accommodation due to a disability, please email us at [email protected]. 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.
$77,600 - $103,500
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