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Assistant Manager - Operations

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MetLife

3d ago

  • Job
    Full-time
    Mid & Senior Level
  • Accounting & Tax
    Banking & Finance

AI generated summary

  • You need experience in reinsurance settlements, financial reporting, analytics, claims comparison, treaty implementation, tax computations, research, and preparing internal MIS.
  • You will compile reinsurance data, assist with financial reporting, analyze results, implement treaties, prepare tax computations, research queries, and create internal analytics reports.

Requirements

  • Prepare periodic reinsurance settlements by compiling data from the ledger, direct administration systems, the reinsurance data mart, valuations and various other internal sources
  • Assist with monthly financial reporting, such as booking accounting entries, setting up wire transfers in TWS and balance sheet certifications. Ensure overall governance and highlight/escalate potential issue
  • Assist with the analysis of current and historical financial results for reinsurance business; design and prepare reports/studies that will enhance the analysis. Answer issue based queries to Reinsurance Controllers relating to analytics
  • Compare Reinsurance claims to Direct claims and Reinsurance reserve requirements appropriate
  • Assist with the implementation of new treaties in the ERDR system
  • Prepare Annual DAC Tax computation for Tax department and DAC tax letters for reinsurers
  • Perform research relating to queries raised by reinsurers, auditors, etc. and assist with preparing timely responses
  • Prepare internal MIS and analytics relating to reinsurance Inquiries highlighting resource utilization and turnaround time and provide tracking of audits (Reinsurance, D&T, SOX, and State side)

Responsibilities

  • Prepare periodic reinsurance settlements by compiling data from the ledger, direct administration systems, the reinsurance data mart, valuations and various other internal sources
  • Assist with monthly financial reporting, such as booking accounting entries, setting up wire transfers in TWS and balance sheet certifications. Ensure overall governance and highlight/escalate potential issue
  • Assist with the analysis of current and historical financial results for reinsurance business; design and prepare reports/studies that will enhance the analysis. Answer issue based queries to Reinsurance Controllers relating to analytics
  • Compare Reinsurance claims to Direct claims and Reinsurance reserve requirements appropriate
  • Assist with the implementation of new treaties in the ERDR system
  • Prepare Annual DAC Tax computation for Tax department and DAC tax letters for reinsurers
  • Perform research relating to queries raised by reinsurers, auditors, etc. and assist with preparing timely responses
  • Prepare internal MIS and analytics relating to reinsurance Inquiries highlighting resource utilization and turnaround time and provide tracking of audits (Reinsurance, D&T, SOX, and State side)

FAQs

What are the key responsibilities of the Assistant Manager - Operations?

The key responsibilities include preparing periodic reinsurance settlements, assisting with monthly financial reporting, analyzing financial results for the reinsurance business, comparing reinsurance claims to direct claims, implementing new treaties, preparing Annual DAC Tax computations, conducting research for queries from reinsurers and auditors, and preparing internal MIS and analytics related to reinsurance inquiries.

What qualifications are required for this position?

The job description does not specify particular qualifications, but typically candidates should have a background in finance or accounting, experience in operations or reinsurance, analytical skills, and familiarity with relevant software and systems.

What is the company culture like at MetLife?

MetLife emphasizes a purpose-driven culture focused on helping colleagues, customers, and communities. The company values empathy and collaboration, fostering an environment where collective efforts lead to positive transformations in financial services.

What markets does MetLife operate in?

MetLife operates in more than 40 markets around the world, holding leading positions in the United States, Latin America, Asia, Europe, and the Middle East.

Is there support for professional development in this role?

The job description does not explicitly mention professional development support, but as a leading financial services company, MetLife generally encourages employee growth and may offer training and development opportunities.

What tools and systems will I be working with in this role?

You will work with ledger systems, direct administration systems, the reinsurance data mart, ERDR system for treaty implementation, and other internal sources for data compilation and analysis.

How does this position fit within the overall structure of MetLife?

The Assistant Manager - Operations plays a critical role in the reinsurance business, supporting financial reporting, compliance, and analytical processes, thereby contributing to the overall efficiency and governance of MetLife's operations.

How often will I need to interact with other departments or teams?

This role will likely involve regular interaction with various internal teams, including finance, tax, and the reinsurance controllers, to compile data, prepare reports, and address inquiries.

What is the significance of the Annual DAC Tax computation mentioned in the job description?

The Annual DAC Tax computation is important for the tax department and involves preparing tax letters for reinsurers, ensuring compliance with tax regulations and accurate reporting of deferred acquisition costs.

Are there opportunities for advancement within the operations team?

While the job description does not specify, MetLife is known for offering career growth opportunities, and performance in this role could lead to advancement within the operations or finance teams.

Finance
Industry
10,001+
Employees
1868
Founded Year

Mission & Purpose

We live in a time of unprecedented change. A time when economies, regulations, and social safety nets are all in flux. Customers around the globe have told us they’re overwhelmed by the pace of change and are looking for a trusted partner to help them manage life’s twists and turns. MetLife is committed to being that partner. That’s why we’re transforming our business: Delivering greater value for the people we serve by becoming a simpler, more focused, and future-facing company. We’ll be introducing new ways to meet our customers’ evolving needs, with flexible products; simpler, more intuitive experiences and a range of new services. MetLife. Navigating life together. MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.