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 2015 total Operating Revenues of ~$70 billion, MetLife is ranked #39 on the Fortune 500 list and #50 on the Forbes Global 2000 list of the world’s largest public companies. Globally, the company has ~69,000 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 U.S. with a $508.2 billion general account portfolio at December 31, 2015. In 2015, FORTUNE Magazine’s World’s Most Admired Company survey named MetLife #1 in the Life and Health Insurance industry.
In January 2016, MetLife announced a plan to pursue the separation of a substantial portion of its U.S. Retail segment. Once separated, the new business will be called Brighthouse Financial.
Brighthouse Financial will serve customers the way they want, need and deserve. It will focus on eliminating the complexity, confusion and cost that can get in the way of many Americans who are seeking financial security. We will bring products to the market that add value to our customers’ lives, and will be guided by a common set of values that focus on the customer and drive accountability.
Brighthouse Financial is seeking high-performing team members who are passionate about the company’s mission. We are laser-focused on adding value to our customers and minimizing complexity in every decision and action. We are building high performing teams who set the bar high and hold each other accountable.
Risk, Brighthouse Financial
The Head of Model Risk is a new position being created, responsible for the design and implementation of BrighthouseFinancial’s model risk management function. This position will report directly to the CRO and is supported by a small team of highly qualified technical experts. The role is designed to address the increased recognition of the risks inherent in the use of models and the increasing focus of regulators on the appropriate oversight and controls of models. The role will liaise with model owners through the model lifecycle. Additionally, the team will perform independent model validation, including an analysis of actual v. expected, stress testing and back-testing. The incumbent will support and collaborate with the business unit model owners.
The primary objective of the function is to provide assurance that mathematical models in use throughout the company are designed soundly, fit for their intended use, and that model results are appropriately tested and monitored. The incumbent will be responsible for the maintenance of the model inventory system, the independent review of model owner risk assessments, the design of model risk management protocols in line with regulatory requirements, and the ongoing execution of independent model validation activities.
The person in this role will build out the model risk team and develop the procedures and framework for independent validation and effective challenge of complex models. The incumbent will need sufficient experience, stature, and credibility in the organization (including Investments, Actuarial, Treasury and Finance) to provide the effective challenge consistent with industry best model risk practices and regulatory expectations.
Reports to: Chief Risk Officer
Direct Reports: Yes
Other Key Stakeholders: Brighthouse Financial business leaders
Travel will be limited as Charlotte, NC is the corporate headquarters with infrequent travel to operations in Convent Station, NJ and Tampa, FL.
Business Knowledge/Technical Skills:
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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