Director, Variable Annuity ALM Model Implementation - Brighthouse Financial

  • Company: MetLife
  • Location: Morristown, New Jersey
  • Posted: November 12, 2016
  • Reference ID: 33441
In January 2016, MetLife announced a plan to pursue separation of a substantial portion of its U.S. Retail segment. The new company would represent, as of September 30, 2015, approximately 20% of the operating earnings of MetLife and 50% of the operating earnings of MetLife's U.S. Retail Segment. The new company would have approximately $240 billion of total assets with its largest operating company, MetLife USA being one of the largest life insurers in the U.S. with GAAP equity of approx. $12 billion as of September 30, 2015, similar in size to Lincoln Financial.
The new company will be focused on securing clients' financial futures by providing the best value, advice based solutions. Building upon the current U.S. Retail culture, the new company will be guided and operated by a common set of values that will focus on accountability, external and customer focus, collaboration and a strong focus and discipline on cost management.
Reporting to the Model Development Lead, this position is primarily responsible for managing the model development efforts supporting Brighthouse Financial. The individual will support the development and maintenance of the liability hedging model, including identifying, implementing, and documenting ongoing enhancements. In addition, he or she will perform periodic code review and benchmark, scenario, and stress test models and communicate results to internal and external stakeholders.
Job Location
United States : New Jersey : Morristown
Alternate Job Location
United States : North Carolina : Charlotte
Job Description
  • Manage ALM model(s), including development, maintenance, and execution of the ALM and asset projection models, as well as regular reporting to the model risk working group
  • Work closely with the Quantitative Strategies group to understand and meet business needs through the appropriate design and build of the model(s)
  • Support the Model Development Lead in assessing, refining, and implementing VA ALM's system architecture strategy with an emphasis on big data architecture that employs advanced quantitative methods
  • Identify opportunities for improvement in the group's data analytics capabilities, including real-time business intelligence and analytics on investment strategies, allocations, or transactions
  • Develop and implement governance framework, to manage quality, consistency, usability, and availability of information across the group
  • Support the Model Development Lead with cross-functional collaboration to source data and drive standardization of data sourcing, integration, and consumption across functions
  • Lead the analysis required to engineer new and enhance existing trading strategies, as well as identify and formulate continuous process improvements, enhancements, and testing of the asset modeling process, including mapping data, modeling assets, loading market data, and overall code quality
  • Develop asset-based reporting requirements and perform related analysis, including those required for assumption setting, cash flow testing, and AG43 / C3P2 asset selection
  • Develop documentation for assumption and model selection, periodic calculation, and projects as well as attribution and analysis reporting
  • Develop reconciliations, analytics, and reporting processes for asset modeling
  • Develop and execute project plans, including identifying new projects, assigning resources, and evaluating cost vs. benefit
  • Support internal initiatives
  • Perform other related activities as required
Required Qualifications
  • 8+ years of experience with increasing responsibilities in system architecture design and developing quantitative models that apply sophisticated analytical techniques
  • Extensive quantitative model development experience with preference for developing life and annuity actuarial projection models
  • Strong coding experience in C++ and SQL required
  • Proficient in MS Excel, Word, and PowerPoint
  • Strong written and oral communication skills; ability to convey technical concepts to non-technical audiences clearly
  • Demonstrated ability to consider multiple perspectives while making business decisions
  • Strong interpersonal and people/project management skills
Preferred Qualifications
  • PhD preferred
  • Ability to code in other languages a plus
Required Education
  • Advanced technical degree in a subject with strong computational emphasis required
Business Category
Number of Openings
MetLife is a proud equal opportunity/affirmative action employer committed to attracting, retaining, and maximizing the performance of a diverse and inclusive workforce. It is MetLife's policy to ensure equal employment opportunity without discrimination or harassment based on race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, national origin, marital or domestic/civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by law.
MetLife maintains a drug-free workplace.
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Internal Use Only: 13M  NewCo-Wave1 

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