Summary of Responsibilities
This position is responsible for providing actuarial support in the development of Individual Distribution sales compensation plans, inclusive of all retail distribution channels (e.g., MetLife, NEF, MLR) and all sales related positions within these channels (e.g., account rep, firm management, brokers, retirees). One of our overarching objectives is the simplification of the overall compensation framework, inclusive of plan design and administration.
The responsibilities include but are not limited to the following:
Design compensation plans including cash components, benefits, stock/deferred compensation, value of infrastructure/support programs and value of recognition programs.
Ensure that the compensation plans drive desired behavior in the field and are aligned with MetLife’s strategies.
Model plan design to ensure financial soundness for Americas Retail Business and Individual Distribution. Impact on $1 Billion of annual compensation and benefits related expenditures.
Monitor and report on the financial performance of compensation programs.
Model compensation plan impact on a rep by rep basis, and firm by firm basis.
Develop product specific compensation payouts (e.g., for life, annuity, DI, Auto & Home, etc.) in conjunction with product manufacturing, for both new products as well as product revisions and enhancements.
Conduct testing and complete appropriate filings of new and revised compensation plans such that MetLife maintains compliance with NY section 4228 when applicable. Work with Legal Partner to ensure the plan design is in compliance with the various Federal and States laws and regulations.
Develop modeling tools to help producers and managers to better understand their compensation arrangements and how they can maximize their compensation.
Participate as a member of the compensation redesign projects, including but not limited to benchmarking, focus groups, plan design, modeling and migration planning.
Participate in the roll-out of compensation programs to representatives and field management
Participate in the implementation phase of compensation programs.
Manages 1 direct report
Position will be located in Charlotte, NC. Travel time is anticipated to be less than 20%.
Actuarial Degree with 10 yrs experience (5 yrs after Fellow)
Fellow of the Society of Actuaries or equivalent experience (FSA)
Member of the American Academy of Actuaries (MAAA)
Proven project management skills
Excellent organizational, mathematical and analytical abilities
Sound business judgment
Strong verbal and written communication skills
Able to think “out of the box”
Demonstrated ability to build partnerships and foster teamwork
Solid understanding of MetLife’s products
Experience with Auto & Home business would be an asset
Equal Employment Opportunity
MetLife is proud to be an equal opportunity/affirmative action employer. We are committed to attracting, retaining and maximizing the performance of a diverse and inclusive workforce.
How To Apply
For immediate consideration, click on the Apply Now button below. You will be directed to complete an on-line profile which may take 15 – 20 minutes to complete. Upon completion, you will receive an automated confirmation email verifying you have successfully applied to the job.
Don't accuse New England Life Insurance of a regional bias. The company, which operates as New England Financial, provides insurance and...