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VP & Actuary, Complex Products Modeling. Job in Bridgewater, New Jersey, United States in MetLife, Inc.. Nelest.com
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VP & Actuary, Complex Products Modeling

col-narrow-left   

Job ID:

22952

Location:

Bridgewater, NJ 

Job function:

Business Development
col-narrow-right   

Posted:

03.10.2016

Employment Type:

Full time

Industry:

Financial
col-wide   

Title:

VP & Actuary, Complex Products Modeling

Job Description:

METLIFE:

"At MetLife, we're leading the global transformation of an industry we've long defined. United in purpose, diverse in perspective, we're dedicated to making a difference in the lives of our customers."

MetLife, through its subsidiaries and affiliates, is a global provider of life insurance, annuities, employee benefits and asset management with operations in nearly 50 countries and leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. With a proven track record of financial strength and delivering on promises since 1868, the company prides itself on helping people plan for their future by protecting what matters most - their families and their achievements.

With 2014 total operating income of ~$70 billion, MetLife is ranked #42 on the Fortune 500 list and #69 on the Forbes Global 2000 list of the world's largest public companies. Globally, the company has ~65,000 employees serving approximately 100 million customers, individuals, and businesses, including 90 of the FORTUNE 100. MetLife is also one of the largest institutional investors in the US with more than $450 billion in managed assets. FORTUNE Magazine's World's Most Admired Company survey recently named MetLife #1 in the Life and Health Insurance industry.

MetLife is an ambitious company with the scale, scope and talent to lead the transformation of the insurance and employee benefits industry, driving world class standards of performance around the globe. Launched in 2012 by MetLife Chairman and CEO, Steven Kandarian, the company's enterprise strategy is based on four cornerstones: Refocus the U.S. Business, Grow Emerging Markets, Build a Global Employee Benefits Business and Drive Towards Customer Centricity and a Global Brand. Concrete actions are well underway in each of these strategic focus areas, including moving to a horizontally-integrated global operating model to help drive greater leverage of technology and operations and the more consistent application of functional priorities across global markets.

As One MetLife, the company has defined common values shared across the enterprise: Put Customers First, Be the Best, Make Things Easier, and Succeed Together. These values guide how employees operate every day and are reflected in the company's commitment to creating a world-class organization which places a high value on motivational leadership, engaged talent, and customer focus. For more information on working at MetLife, please visit MetLife Careers.

MetLife has an established risk management framework that supports a strong risk culture and is embedded in the Company's business decision making. The risk management framework is the foundation that drives our organizational structure, defines our Risk Appetite and establishes our processes to identify and manage risks globally. The overall foundation provides for strong governance through multiple Board and Senior Management Committees that ensure all material risks are properly identified, measured, managed and reported.

This role is in Global Risk Management ("GRM") working with GRM sub-teams (Corporate Risk management, Global Pricing & Valuation Oversight, Economic Capital and Regional risk teams) for the numerous new and emerging regulatory requirements for Insurance capital and market risk. This new role is required to implement and advocate for regulatory requirements, strengthen our market risk monitoring and market risk effective challenge functions for our most complex insurance products. These complex products such (variable annuities, investment products with various types of option and guarantees and funding agreement) are under increasing regulatory scrutiny with the likely reserve and capital requirements that require additional capital market and modelling expertise throughout the company.

DEPARTMENT: Global Pricing & Valuation

LOCATION: Bridgewater, NJ or New York

THE ROLE:

The job is a newly created position within GRM reporting to the SVP and head of Global Pricing and Valuation Oversight responsible for providing quantitative expertise for development of various emerging regulatory requirements, providing additional quantitative support for market risk functions of GRM and to strengthen the market risk effective challenge function of GRM.

Key Relationships:

Reports to: Senior Vice President of Global Pricing and Valuation Oversight

Direct Reports: None

Other Key Stakeholders: SVP Global head of ALM, chief actuaries of Americas, EMEA and Asia, SVP corporate risk management head, GRM Economic Capital head, Regional CROs, regional and other senior Investment heads

Key Responsibilities:

Responsible for providing quantitative expertise for various emerging global regulatory requirements and for market risk evaluation of products with various complex capital market guarantees. The primary areas of responsibility are:

a. Inforce product risk evaluation, modelling, Economic capital modelling for sophisticated capital market guarantees

b. Support the evaluation, development, advocacy and implementation of new and emerging Global capital regulations and stress testing

c. Market risk support for validation of Economic Scenarios generators used to value complex products.

d. Second line of defense review and effective challenge of ALM and hedging strategies

e. Support model (e.g. product pricing, liability modeling, hedging) validation for complex capital market guarantee products.

Job Requirements:

Business Knowledge/Technical Skills:

- FSA (Fellow of Society of Actuaries) or equivalent

- 15+ years of experience within insurance company, consulting or audit firm

- Modelling and hedging expertise with fixed and variable annuities across multiple accounting frameworks

- Deep understanding of Capital markets including derivatives as required for hedging of market risk

- Product Pricing and Asset liability management experience

- Accounting and liability valuation knowledge of U.S. statutory, U.S. GAAP and emerging new regulatory frameworks (IAIS, Solvency II, other market value balance sheets)

- Excellent analytical and communication (oral and written) skills

Leadership Competencies

- Creates Partnerships - Authentically builds trusted relationships and collaborates across global, diverse and multi-functional teams to successfully drive business objectives.

- Thinks Strategically - Sets direction aligned to the company's strategy, applying external and global perspective to meet local and global needs.

- Models our Values - Creates a culture that promotes the company's values and standards through role modeling, accountability and ownership of decisions.

MetLife is proud to be an equal opportunity/affirmative action employer. We are committed to attracting, retaining and maximizing the performance of a diverse and inclusive workforce. It is the policy of MetLife to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information or any other basis protected by law.

Zip Code:

13313

Company Info
MetLife, Inc.
1095, Avenue of the Americas
New York, NY, United States

Phone:
Web Site: metLife.com

Company Profile

Company Info


MetLife, Inc.
1095, Avenue of the Americas
New York, NY, United States
Phone:
Web Site: metLife.com

VP & Actuary, Complex Products Modeling

col-narrow-left   

Job ID:

22952

Location:

Bridgewater, NJ 

Job function:

Business Development
col-narrow-right   

Posted:

03.10.2016

Employment Type:

Full time

Industry:

Financial
col-wide   

Title:

VP & Actuary, Complex Products Modeling

Job Description:

METLIFE:

"At MetLife, we're leading the global transformation of an industry we've long defined. United in purpose, diverse in perspective, we're dedicated to making a difference in the lives of our customers."

MetLife, through its subsidiaries and affiliates, is a global provider of life insurance, annuities, employee benefits and asset management with operations in nearly 50 countries and leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. With a proven track record of financial strength and delivering on promises since 1868, the company prides itself on helping people plan for their future by protecting what matters most - their families and their achievements.

With 2014 total operating income of ~$70 billion, MetLife is ranked #42 on the Fortune 500 list and #69 on the Forbes Global 2000 list of the world's largest public companies. Globally, the company has ~65,000 employees serving approximately 100 million customers, individuals, and businesses, including 90 of the FORTUNE 100. MetLife is also one of the largest institutional investors in the US with more than $450 billion in managed assets. FORTUNE Magazine's World's Most Admired Company survey recently named MetLife #1 in the Life and Health Insurance industry.

MetLife is an ambitious company with the scale, scope and talent to lead the transformation of the insurance and employee benefits industry, driving world class standards of performance around the globe. Launched in 2012 by MetLife Chairman and CEO, Steven Kandarian, the company's enterprise strategy is based on four cornerstones: Refocus the U.S. Business, Grow Emerging Markets, Build a Global Employee Benefits Business and Drive Towards Customer Centricity and a Global Brand. Concrete actions are well underway in each of these strategic focus areas, including moving to a horizontally-integrated global operating model to help drive greater leverage of technology and operations and the more consistent application of functional priorities across global markets.

As One MetLife, the company has defined common values shared across the enterprise: Put Customers First, Be the Best, Make Things Easier, and Succeed Together. These values guide how employees operate every day and are reflected in the company's commitment to creating a world-class organization which places a high value on motivational leadership, engaged talent, and customer focus. For more information on working at MetLife, please visit MetLife Careers.

MetLife has an established risk management framework that supports a strong risk culture and is embedded in the Company's business decision making. The risk management framework is the foundation that drives our organizational structure, defines our Risk Appetite and establishes our processes to identify and manage risks globally. The overall foundation provides for strong governance through multiple Board and Senior Management Committees that ensure all material risks are properly identified, measured, managed and reported.

This role is in Global Risk Management ("GRM") working with GRM sub-teams (Corporate Risk management, Global Pricing & Valuation Oversight, Economic Capital and Regional risk teams) for the numerous new and emerging regulatory requirements for Insurance capital and market risk. This new role is required to implement and advocate for regulatory requirements, strengthen our market risk monitoring and market risk effective challenge functions for our most complex insurance products. These complex products such (variable annuities, investment products with various types of option and guarantees and funding agreement) are under increasing regulatory scrutiny with the likely reserve and capital requirements that require additional capital market and modelling expertise throughout the company.

DEPARTMENT: Global Pricing & Valuation

LOCATION: Bridgewater, NJ or New York

THE ROLE:

The job is a newly created position within GRM reporting to the SVP and head of Global Pricing and Valuation Oversight responsible for providing quantitative expertise for development of various emerging regulatory requirements, providing additional quantitative support for market risk functions of GRM and to strengthen the market risk effective challenge function of GRM.

Key Relationships:

Reports to: Senior Vice President of Global Pricing and Valuation Oversight

Direct Reports: None

Other Key Stakeholders: SVP Global head of ALM, chief actuaries of Americas, EMEA and Asia, SVP corporate risk management head, GRM Economic Capital head, Regional CROs, regional and other senior Investment heads

Key Responsibilities:

Responsible for providing quantitative expertise for various emerging global regulatory requirements and for market risk evaluation of products with various complex capital market guarantees. The primary areas of responsibility are:

a. Inforce product risk evaluation, modelling, Economic capital modelling for sophisticated capital market guarantees

b. Support the evaluation, development, advocacy and implementation of new and emerging Global capital regulations and stress testing

c. Market risk support for validation of Economic Scenarios generators used to value complex products.

d. Second line of defense review and effective challenge of ALM and hedging strategies

e. Support model (e.g. product pricing, liability modeling, hedging) validation for complex capital market guarantee products.

Job Requirements:

Business Knowledge/Technical Skills:

- FSA (Fellow of Society of Actuaries) or equivalent

- 15+ years of experience within insurance company, consulting or audit firm

- Modelling and hedging expertise with fixed and variable annuities across multiple accounting frameworks

- Deep understanding of Capital markets including derivatives as required for hedging of market risk

- Product Pricing and Asset liability management experience

- Accounting and liability valuation knowledge of U.S. statutory, U.S. GAAP and emerging new regulatory frameworks (IAIS, Solvency II, other market value balance sheets)

- Excellent analytical and communication (oral and written) skills

Leadership Competencies

- Creates Partnerships - Authentically builds trusted relationships and collaborates across global, diverse and multi-functional teams to successfully drive business objectives.

- Thinks Strategically - Sets direction aligned to the company's strategy, applying external and global perspective to meet local and global needs.

- Models our Values - Creates a culture that promotes the company's values and standards through role modeling, accountability and ownership of decisions.

MetLife is proud to be an equal opportunity/affirmative action employer. We are committed to attracting, retaining and maximizing the performance of a diverse and inclusive workforce. It is the policy of MetLife to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information or any other basis protected by law.

Zip Code:

13313
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