Director-Actuarial Services - Deferred Annuity
Location:
Bridgewater , New Jersey
Posted:
March 14, 2017
Reference:
44681-en_US

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.

 

 

  • Review, manage, and report the valuation and financial reporting of the VA guarantees FAS157 and SOP03-1 Reserves within MRB on a monthly basis.  Provide financial projections of GAAP income to financial controllers on a monthly basis.     
  • Manage the Bermuda Solvency Capital Requirement (BSCR) calculations and reporting requirements on an annual basis.  Liaison with outside departments, such as Reinsurance Accounting, Global Risk Management, and Treasury to provide filing data on a timely basis.
  • Develop new, and maintain the existing, valuation models in support of the valuation of the guarantees embedded in insurance products such as VA’s.  This function also involves supporting the modeling of new products with capital markets exposures for valuation purposes.
  • Review actuarial and capital markets assumptions in the valuation models for the VA guarantees on a periodic basis.  Request, review, and analysis actuarial and capital markets data to provide actuarial assumptions (i.e. lapse, mortality) and capital markets assumptions (i.e. equity, interest rate, FX, volatility)  for these models.  He/She will participate in improving on the processes for producing these statistics.

 

  • 10+ years of financial industry related experience
  • Fellow of the Society of Actuaries (FSA) preferred
  • M.S. in mathematics, statistics, or actuarial science
  • Experience with GAAP Valuation and financial reporting of VA guarantees.
  • Experience with valuation systems for VA guarantees such as MG-Hedge.
  • Exposure to industry models on equity, interest rate, inflation and foreign exchange scenario generation.
  • Experience with accounting ledger reporting systems required.
  • Strong background in programming, database management systems, and IT experience preferred.
  • Ability to multitask and work in multifunctional teams
  • Strong written communication skills
  • Ability to solve problems with non-conventional approaches

 

Financial Management Group

 

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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 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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Requisition #: 44681 


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