Actuary – Variable Annuity Pricing

Full-Time

Springfield, MA or Boston, MA

The Opportunity

The Variable Annuity Pricing Actuary will be an integral part of the Annuity Pricing team and will use business and technical knowledge to expand and enhance MassMutual’s position in the annuity marketplace.

The Team

The position is part of the Product department within MassMutual’s Brand, Product, and Affiliated Distribution organization. The Annuity Pricing team is responsible for the pricing and profitability of all MassMutual Annuities. In addition to Annuity pricing, the team is also expected to support, as necessary, all other actuarial aspects of Annuity product management, operations support and distribution interaction. This potentially means active involvement with experience studies, competitive analysis, and other actuarial functions.

The Impact:

• Lead the pricing of new and existing annuity products with a focus on Variable Annuities.
• Provide actuarial support for policy form and regulatory filings, competitive benchmarking, and industry analysis.
• Work with our business partners to understand the industry competitive landscape and be a key player in the design of new products to balance competitiveness and profitability.
• Take ownership in setting pricing assumptions and performing pricing analysis.
• Lead pricing review and approval process with Corporate Actuarial, Enterprise Risk Management, and other stakeholders.
• Provide technical guidance, mentoring and training to actuarial students on the Annuity team.

• Gain proficiency and be the subject matter expert in Prophet, the pricing actuarial software.
• Take ownership of pricing models and lead model development for new products.
• Drive continuous improvement and efficiencies beyond own scope of responsibility.

The Minimum Qualifications

• Associate of the Society of Actuaries
• 5+ years’ experience with actuarial software and models
• Bachelor’s degree in actuarial science, math, statistics, or related discipline

The Ideal Qualifications

• Fellow of the Society of Actuaries
• Annuity, ALM or investment experience
• Prophet modeling experience
• Ability to build, validate, enhance, and maintain asset share pricing models
• Strong oral and written communication skills
• Ability to interact with technical and non-technical audiences at all levels, within and across organizational boundaries
• Ability to use a disciplined work approach to initiatives, projects, and day-to-day activities
• Inquisitiveness, critical thinking, professional skepticism, and business sense

What to Expect as Part of MassMutual and the Team

• Regular meetings with the Annuity Pricing 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

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Salary Range:

At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.

Why Join Us.

We’ve been around since 1851. During our history, we’ve learned a few things about making sure our customers are our top priority. In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services. To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone. A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits. And your voice will always be heard.

We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first. It’s more than our company structure – it’s our way of life. We are a company of people protecting people. Our company exists because people are willing to share risk and resources, and rely on each other when it counts. At MassMutual, we Live Mutual.

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.

At MassMutual, we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component. For more information about our extensive benefits offerings please check out our Total Rewards at a Glance.