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Head of Worksite Life Pricing & Product Management

MassMutual

MassMutual

Product
Springfield, MA, USA
Posted on Friday, September 22, 2023

Head of Worksite Life Pricing & Product Management

Springfield, Massachusetts Actuarial Job ID R14393

MassMutual is seeking a highly motivated and experienced worksite/group life actuary to take on a highly strategic, leadership role within MassMutual’s Health and Worksite Product organization.  Responsibilities include product development and inforce block management collaborating across a wide variety of functions including sales, operations, underwriting, corporate actuarial, finance, marketing and IT.  We’re looking for someone with a history of managing teams through change and a proven ability to build strong internal and external relationships.

KEY RELATIONSHIPS

Reports to:                                         Head of Health and Worksite Products, MMUS Product

Additional Relationships:                  Worksite Business, Corporate Actuarial, Marketing, Finance, Operations, Underwriting IT, Field Partners, External Industry Organizations,

This position has primary responsibility for leading the Group/Worksite Life product suite and team.  Specific aspects of this role include:

  • Develop and drive the business plan for Group/Worksite Life with a continued focus on whole life and an innovative and thoughtful approach to looking for other market/product solutions
  • Maximize long term profit consistent with MMUS strategic objectives which often require balancing conflicting needs and considerations, both short term and long term, of a wide variety of constituencies, ranging from external clients, producers, and vendors to other internal areas (Legal/Compliance, Finance, Service, Technology, etc.)
  • Drive Group/Worksite Life Product Practices and Systems; building methodology and establishing standards of practice that are appropriate and consistent with MassMutual, Worksite, and MMUS Product  objectives
  • Provide financial modeling, analysis and insight to Worksite Leadership; collaborate with MM CFO function to accurately predict and communicate future expenses, expected earnings and capital usage for the business
  • Apply actuarial pricing and management models, building or enhancing them as necessary, across the suite of group life products
  • Drive decisions and execution, collaborating with other areas to ensure that results and implications are appropriately understood and socialized.
  • Monitor profitability and ongoing trends, e.g. competition, distribution, demographic, technology, etc. and refine strategy accordingly
  • Oversight of new business capacity, risk management, and accountability for exception review
  • Develop, coach, and guide a high caliber team with strong business acumen toward having, an execution oriented focus, strong analytical and critical thinking skills, intellectual curiosity, and a collaborative approach to solving complex issues or problems, identifying solutions and leading by example
  • Contribute to the effectiveness and utilization of the workforce ensuring a safe, challenging and inclusive work environment for all employees by focusing on communication, reinforcement of the Company’s values and culture, and employee engagement and development

CANDIDATE QUALIFICATIONS:

  • Fellow in the Society of Actuaries (preferred)
  • 10+ years as an FSA in a strategic leadership position. (preferred)
  • Deep and thorough understanding of group/worksite life insurance products (whole life, term insurance, UL and VUL and hybrid ltc riders) and landscape. Ability to translate this information into innovative strategy recommendations.
  • Expert level knowledge of industry best practices and go-to-market strategies.
  • Strong interpersonal and communication skills; able to document complex issues, methodologies, and resolutions such that others can readily understand them
  • Proven ability to develop, lead, and manage a diverse team
  • Demonstrated ability to work cross-functionally to reconcile competing priorities while meeting organizational objectives
  • Sound business judgment in an environment of rapid change
  • Comfortable dealing with both complexity and ambiguity, and an ability to explore multiple solutions to a problem

#LI-IZ1

Salary Range: $167,800.00-$220,200.00 Apply

MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.

If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.