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Actuary - Product Pricing & Assumption Oversight

MassMutual

MassMutual

This job is no longer accepting applications

See open jobs at MassMutual.
Accounting & Finance, Product
Springfield, MA, USA
Posted on Friday, December 1, 2023

Actuary - Product Pricing & Assumption Oversight

Springfield, Massachusetts Actuarial Job ID R14672

Actuary - Product Pricing and Assumption Oversight

Strategic Actuarial Initiatives Team

Full Time,

Springfield, MA or Boston, MA

The Opportunity

MassMutual is seeking an enthusiastic, well-rounded and motivated actuary to join the Product Pricing and Assumption Oversight team within the broader Corporate Actuarial and Business Analytics (CABA) team. In this function, this individual will contribute to the oversight of all of MassMutual’s insurance product pricing and is expected to successfully collaborate with the pricing teams of the various businesses as well as other partners including Valuation, Experience Studies, Enterprise Risk Management and Finance.

The Team

The Product Pricing and Assumption Oversight function is part of the Strategic Actuarial Initiatives team that is responsible for all oversight of pricing, product development, assumptions, experience studies and reinsurance across all MassMutual functional areas. The group works collaboratively amongst itself as well as with various business partners to ensure toward alignment with MassMutual’s strategic goals and objectives.

The Impact:

As a key member of the Strategic Actuarial Initiatives team you will:

  • Leverage solid technical expertise to provide value-added support and guidance to the review and approval of all assumptions used in actuarial functions across the enterprise
  • Support and influence the analysis and maintenance of major elements of Actuarial Pricing Review including metric setting, target/hurdle rates, mix of business and capital allocation;
  • Develop, communicate and report Value of New Business targets and results to measure the profitability profile of MassMutual sales;
  • Enforce corporate guidelines and governance processes with respect to setting assumptions for use in all actuarial projections across the organization;
  • Have a solid demonstration of clear verbal and written communication, strong collaboration and partnership with business partners, and agility in balancing multiple work efforts

The Minimum Qualifications

  • Bachelor's Degree
  • Associate of Society of Actuaries (ASA), or equivalent professional credential from recognized professional actuarial association
  • 4+ years of life or annuity experience, preferably in the U.S. market, in areas such as pricing, valuation, reinsurance and/or capital management

The Ideal Qualifications

  • Fellow of Society of Actuaries (FSA), or equivalent professional credential from recognized professional actuarial association
  • Solid knowledge of actuarial and risk management concepts and practices; experience with quantifying, analyzing and managing a range of product risks
  • 6+ years of life and annuity experience, preferably in the U.S. market, in areas such as pricing, valuation, reinsurance and/or capital management
  • Self-motivated and independent with solid analytical, critical thinking, and problem-solving skills; comfortable dealing with both complexity and ambiguity with some guidance, and able to explore multiple solutions to problems and challenges
  • Effective time management, planning and organization skills
  • Strong interpersonal, communication and influencing skills: ability to convey complex issues, explain methodologies and influence resolutions in writing and orally
  • Ability to rapidly respond to changes in direction, tight deadlines and high-pressure situations

What to Expect as Part of MassMutual and the Team

  • Regular meetings with the Product Pricing and Assumptions Oversight team
  • Focused one-on-one meetings with your manager
  • Access to mentorship opportunities
  • Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
  • Access to learning content on Degreed and other informational platforms
  • Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits

#LI-ST1

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.
Salary Range: $131,100.00-$172,000.00 Apply

This job is no longer accepting applications

See open jobs at MassMutual.