Job Location: United States : New Jersey : Bridgewater
Deferred Annuity GAAP Reporting is responsible for GAAP Valuation and Financial Reporting of Variable Annuities (VA) at MetLife. The Deferred Annuity GAAP Valuation area is responsible for the Valuation and Financial Reporting of the Variable annuities reserves and DAC. The area is organized in three functional areas: Domestic FAS157 Reserves Reporting, DAC, and MetLife Reinsurance Co. of Bermuda (MRB) Reporting.
The responsibilities of this function are to support all VA Reporting functions with primary focus on MRB. This includes reviewing the FAS157 Reserves and SOP03-1 Reserves produced by the IT unit on a monthly basis. In addition, the projections of GAAP income on various economic scenarios will be needed on a monthly basis. The position will also be responsible for coordinating the submissions needed for the annual Bermuda Solvency Capital Requirement (BSCR), as well as the projection of the capital requirements throughout the year. The position involves a liaison role in researching, explaining and reporting of complex calculations on the VA business to management within the Valuation unit and with outside departments such as the Controllers, Accounting, and Global Risk Management (GRM) units. This position will also be involved with valuation issues regarding future reinsurance transactions in MRB. In addition, the incumbent will support other functional areas of VA Hedging on a limited basis.
The function requires establishing working relationship with Information Technology, Asset-Liability Management, Global Risk Management, Reinsurance Accounting, Controllers, Treasury, Internal Audit, and external consultants and auditors.
Financial Management Group
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Requisition #: 44681