Head of Inforce Pension Risk Transfer

Description and Requirements
Title: Head of Inforce Pension Risk Transfer
Location: New York, NY
Alternate Location(s): Bridgewater, NJ
Setting: Hybrid
Reports to Title: VP, Head of US Pensions
Travel: 0 to 10%
The Team You Will Join
Join our US Pensions In-Force team, a diverse collective of analytical professionals dedicated to excellence in pension management. Our department brings together strategic thinkers, innovative problem-solvers, and client-focused specialists committed to delivering exceptional results. We foster an environment that values both collaborative teamwork and individual expertise, creating a balanced workplace where different perspectives and approaches converge to drive our success.
The Opportunity
The Head of Inforce Pension Risk Transfer will manage a ~$12B block of business associated with legacy Group Annuity Contracts (GAC) and other GACs that have bulk check payment arrangements.
Our US Pensions In-Force team is working on important initiatives, and we are seeking an expert to lead us in this effort. The Head of Inforce Pension Risk Transfer will work across our Retirement Income Solutions (RIS) Operations coordinating several important initiatives as they lead a team of 15-20 employees with 6 direct reports.

• Manages all legacy In-Force US Pensions business such as Immediate Participation Guarantees (IPG), Participating Closeouts, and Buy-Outs. Also serves as primary contact for functional partners to coordinate issue resolution.
• This role will oversee a team of Client Relationship managers responsible for servicing our legacy group annuity contracts.
• This role will coordinate with the Pension Investment Management Organization in support of the ongoing management of MetLife's separate accounts.
• This role will have overall responsibility for the processing and data reconciliation for contracts that utilize reimbursement payment arrangements.

This critical new role will significantly impact the organization by helping to identify process improvements and work with clients to ensure an outstanding client experience.
Responsibilities:

• Manage all In-Force US Pensions products, developing solutions to address client needs as MetLife meets its pension obligations.
  • Includes the calculation of minimum balance requirements, rate setting for certain products, and client reporting.
• Ensure business is conducted in a manner consistent with contractual terms and regulatory obligations.
• In support of business objectives, develop and implement strategies to manage the In-Force block.
• Maintain and strengthen relationships with key clients.
• Serve as the key point of contact for RIS Operations, coordinating cross-functional teams to bring resolution to client issues.
• Oversee conversions for clients moving from participating to non-participating contracts; Includes coordination with other groups including Contracts, Legal, Pricing and Operations.
• Manage the lump sum escheatment model ensuring accuracy and documenting processes and changes, as needed.
• Develop and maintain management reporting (e.g., financial and operational metrics) to provide a view into activities and overall health of products.
• Overall responsibility and ownership for the end-to-end process for 110 contracts that cover approximately 275,000 lives with bulk check payment arrangements. Responsibilities include:
  • Annual reconciliations
  • Monthly processing
  • Monthly wire processing
  • Key events reports
• Maintain SOPs relating to the administration of each contract.
• Assist in data reconciliation for contracts converting from bulk check to direct pay arrangements.
• Identify and implement process improvements.

What You Need to Succeed:

• 8+ years of direct experience managing people
• Knowledge of annuity products
• Institutional retirement experience
• Prior pension product knowledge and/or defined benefit experience
• Life Insurance license (or ability to obtain within a specified timeframe)
• Understanding of financial reporting implications
• Strong collaboration skills with the ability to lead individuals without the benefit of a reporting relationship
• Strong project management skills
• Proficient in Microsoft Word and Excel
• Strong quantitative and financial skills
• Ability to communicate clearly and concisely both orally and in written form
• Attention to detail and accuracy
• Proven risk identification and mitigation experience
• Prior client management experience required

#LI-WRAPJOB
The salary range for applicants for this position is 161,000 - 214,600 - Note this role is also eligible for annual short-term incentive compensation and stock-based long-term incentives.
Benefits We Offer
Our U.S. benefits address holistic well-being with programs for physical and mental health, financial wellness, and support for families. We offer a comprehensive health plan that includes medical/prescription drug and vision, dental insurance, and no-cost short- and long-term disability. We also provide company-paid life insurance and legal services, a retirement pension funded entirely by MetLife and 401(k) with employer matching, group discounts on voluntary insurance products including auto and home, pet, critical illness, hospital indemnity, and accident insurance, as well as Employee Assistance Program (EAP) and digital mental health programs, parental leave, volunteer time off, tuition assistance and much more!
About MetLife
Recognized on Fortune magazine's list of the 2024 "World's Most Admired Companies", Fortune World's 25 Best Workplaces™ for 2024, as well as the 2024 Fortune 100 Best Companies to Work For ®, MetLife , through its subsidiaries and affiliates, is one of the world's leading financial services companies; providing insurance, annuities, employee benefits and asset management to individual and institutional customers. With operations in more than 40 markets, we hold leading positions in the United States, Latin America, Asia, Europe, and the Middle East.
Our purpose is simple - to help our colleagues, customers, communities, and the world at large create a more confident future. United by purpose and guided by empathy, we're inspired to transform the next century in financial services. At MetLife, it's #AllTogetherPossible . Join us!
MetLife is an Equal Opportunity Employer. All employment decisions are made without regards to race, color, national origin, religion, creed, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, marital or domestic/civil partnership status, genetic information, citizenship status (although applicants and employees must be legally authorized to work in the United States), uniformed service member or veteran status, or any other characteristic protected by applicable federal, state, or local law ("protected characteristics").
If you need an accommodation due to a disability, please email us at [email protected]. This information will be held in confidence and used only to determine an appropriate accommodation for the application process.
MetLife maintains a drug-free workplace.
161,000 - 214,600 - Note this role is also eligible for annual short-term incentive compensation and stock-based long-term incentives
#BI-Hybrid