Job Location: United States : North Carolina : Charlotte
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.
Reporting to the Head of Variable Annuity ALM, this position is primarily responsible for liaising with internal and external stakeholders on various activities related to Brighthouse Financial’s variable annuity asset liability management (“VA ALM”) program, including corporate and regulatory reporting, financial projections, and trade structuring, marketing, and execution. He or she will be responsible for translating the variable annuity hedging strategy into tactical actions and drive its execution through coordination of internal and external resources. The individual will require exceptionally strong communication and interpersonal skills in addition to a robust knowledge of the related financial concepts.
- Lead the execution of variable annuity hedging strategies, including trade structuring, marketing, pricing, and execution, through coordination of internal and external stakeholders
- Respond to the complexity of the capital markets and identify opportunities to mitigate unplanned losses in hedge programs and/or maximize returns on the hedging strategies
- Coordinate, prepare, and report to senior management, the Board of Directors, governance and steering committees, external stakeholders, and regulators on variable annuity hedging strategies, hedging results, hedging costs, trade structures and economics, new products, and financial projections
- Channel feedback and questions from external stakeholders back to the technical team to be considered in model design and implementation
- Serve as a liaison to Actuarial related to reporting, regulatory and data considerations
- Coordinate and prepare memos, regulatory documentation, and white papers for various stakeholders on the variable annuity hedging strategies being proposed or deployed
- Lead the development of a model for hedging costs and prepare projections for financial planning purposes
- Prepare and distribute regular commentary on financial market macro trends and micro events articulating their impacts or potential impacts on hedging results quantified by P&L attribution
- Backtest and conduct economic scenario performance analysis on investment strategies under different market environments using quantitative models
- Lead the company’s efforts to leverage large data sets and third-party data sources to create analytical tools and data interfaces across the various functions
- Leverage academic research and industry news and trends for idea generation
- Maintain knowledge of global capital markets and provide timely updates as they relate to portfolio performance and risk management
- Support the use of sophisticated mathematical techniques, including simulation and option pricing models, to support variable annuity product designs
- Influence the pricing of various life and annuity products through evaluation of economic value and economic capital requirements
- Measure and monitor risk associated with separate account guarantees, using an option pricing-based valuation system
- Model cash flows that are sensitive to market conditions, such as lapses, transfers, flexible premium persistency, and benefit payments
- Support the development of appropriate investment and/or hedging strategies to support new product innovations
- Ensure that interest rate and other market-related risks are properly evaluated and ROI calculations are based on an amount of economic capital reflective of these risks
- Support the preparation of the VA financial reporting package in collaboration with internal stakeholders to provide commentary explaining results to senior management
- Assess and lead the development of reports on all information pertaining to VA economic liabilities and derivative assets on multiple reporting bases (e.g., Economic, US GAAP, IFRS)
- Support internal treasury initiatives
- Perform other related activities as required
- 10+ years of relevant work experience with increasing responsibilities demonstrating an understanding of VA ALM concepts, financial markets, and a strong record of results
- Strong knowledge of derivatives structuring and pricing
- Life and annuity actuarial projection model development experience preferred
- Strong quantitative academic background and/or CFA; PhD in related discipline preferred
- Demonstrated ability to consider multiple views in making business decisions
- Excellent communication, interpersonal, and management skills with the ability to persuade, negotiate, and arbitrate to effect change and achieve desired results
- Proficient in MS Excel, Word, and PowerPoint
Treasury & ALM
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.