1+ months

Director & Actuary - Annuity Pricing and Product Development

Brighthouse Financial
Morristown, NJ 07960
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Req Id: 2286
Job location: Morristown, NJ, US, 07960

Brighthouse Financial is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S., we specialize in products designed to help people protect what they've earned and ensure it lasts. We are built on a foundation of experience and knowledge, which allows us to keep our promises and provide the value they deserve.

At Brighthouse Financial, we're fostering a culture where diverse backgrounds and experiences are celebrated, and different ideas are heard and respected. We believe that by creating an inclusive workplace, we're better able to attract and retain our talent, provide valuable solutions that meet the needs of our advisors and their clients, and deliver on our mission of helping more people achieve financial security. We're se eking passionate, high-performing team member to join us. Sound like you? Read on.

How This Role Contributes to Brighthouse Financial:

This position will be responsible for the pricing and development of annuity products, with a focus on group annuities. This position ensures the product is properly priced and financially sound, generating the appropriate shareholder value consistent with the risk assumed by Brighthouse Financial.

Key Responsibilities:
  • Annuity product pricing:
    • Recommend the appropriate product margins reflecting product-specific risk characteristics
    • Recommend rates for annuity new business and in-force blocks on an ongoing basis to achieve profitability targets
    • Maintain appropriate documentation of results, methodology, and assumptions for rate setting
    • Implement and review updates to pricing models in a well-governed manner, consistent with Model Risk Management guidance
    • Ensure pricing reflects best available assumptions and information. Regularly review experience studies and capital markets inputs; ensure assumptions are well documented and appropriately consistent across annuity products
    • Calculate the Value of New Business for the product on a quarterly basis, reconciling changes from prior quarters. Effectively communicate results to management and recommend changes to product pricing as trends emerge
  • Annuity product development:
    • Provide actuarial expertise for product development
    • Create actuarial filing materials to support product filings based on a thorough review of relevant actuarial guidance and regulation
    • Develop processes, reports and controls around the management of new annuity products
    • Collaborate with partners in other business areas including Valuation, Accounting, Filing, Risk, ALM, and Actuarial Modeling, during product development and implementation
  • Effectively lead a team of actuarial students with an inclusive and collaborative culture. Support students in their actuarial exam progress.

Essential Business Experience and Technical Skills:
  • Bachelor's degree in mathematics or statistics
  • Attained the FSA designation, and has 7-10 years of experience in an actuarial field
  • Experience with group annuities a plus
  • Experience with investments or ALM concepts
  • Ability to communicate complex technical concepts to both technical and non-technical audiences both verbally and through written documents
  • Ability to develop and implement financial and actuarial pricing models
  • Strong project management skills a plus
  • Proficient with Excel, VBA and actuarial modeling systems (stochastic modeling experience preferred)
  • Capable of effectively handling multiple long-term projects and short-term ad hoc tasks at the same time
  • Can adjust work resources and deadlines in response to changing business priorities

Key Relationships :

Direct Reports/Team: Manage a team of 1-2 actuarial students

Other Key Stakeholders: Partners closely with Product Development, Product Filing, Valuation, Projections, ALM, and Model Risk Management


Less than 5%

Number of Openings:



Jobs Rated Reports for Actuary

Posted: 2020-05-04 Expires: 2020-06-05

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Director & Actuary - Annuity Pricing and Product Development

Brighthouse Financial
Morristown, NJ 07960

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10th2018 - Actuary
Overall Rating: 10/220
Median Salary: $100,610

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