Head of Institutional Risk and Actuarial Initiatives

Full-Time

Boston, MA or Springfield, MA

The Opportunity

The Head of Institutional Risk and Actuarial Initiatives will utilize their leadership, influence, business acumen, and deep actuarial knowledge to influence strategy and ensure the Institutional Solutions business is financially sound and risk controlled. The primary responsibilities will be liaising with ERM, finance and actuarial functions, profitability and financial analyses, risk reporting, and driving data-based decisions in support of the Institutional product lines. The role is within Institutional Solutions, a growing segment of MassMutual representing a key component of the company’s overall strategy.

The Team

The role collaborates with peers in the Institutional Product & Actuarial team to achieve Institutional Solutions’ strategic and financial objectives with risk discipline, ensuring adherence to corporate governance policies. This role will require strong financial acumen, familiarity with Institutional businesses, and ability to navigate and influence a diverse set of corporate stakeholders.

The Impact

This individual contributor role relies on robust actuarial experience to anticipate financial reporting impacts, capital efficiency opportunities, and potential areas of risk. In this role you will:

• Represent Institutional businesses on enterprise actuarial initiatives, including expenses, capital analysis, risk capacity, etc.
• Lead profitability reporting and partner with Financial Planning & Analysis for forecast and earnings analysis to achieve business outcomes and develop insights to influence product, pricing, and growth decisions.
  • Deliver and evolve aggregated Institutional Solutions reporting of new business metrics, working collaboratively across the team.
• Partner with enterprise stakeholders to ensure appropriate allocation and efficient utilization of expense and capital in line with the company’s overall strategy.
• Lead Institutional Solutions assumption and model governance including development of process and standards, adherence to internal policies, etc.
• Evaluate and execute on risk and capacity management options (in partnership with business leaders and corporate functions) that promote long-term growth and risk management.
• Act as a Liaison to Enterprise Risk Management and Corporate Actuarial functions for Institutional Products
• Influence and contribute to ongoing business strategy and growth.
• Lead various Actuarial projects related to Institutional businesses.

The Minimum Qualifications

• An accomplished FSA with 10+ years of relevant actuarial experience.

The Ideal Qualifications

• An accomplished FSA with experience in institutional products, risk management, or finance
• Excellent interpersonal and communication skills (written, verbal, presentation)
• Demonstrates initiative and sense of urgency, delivering on multiple concurrent deliverables in a dynamic constantly evolving business line.
• Takes ownership and is results-orientated with high accountability.
• Commitment to transparency and inclusive behaviors in dealing with business and other cross functional teams.
• Influences and collaborates with business partners to accomplish joint goals.
• Ability to analyze and comprehend complex information, as well as convey complex materials to non-technical audiences.
• Comfortable dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem to achieve business objectives.
• Meticulous with strong analytical, critical thinking and problem-solving skills.
• Strong grasp of actuarial concepts, including the ability to quickly and independently evaluate and model new products and markets.
• Leads continuous improvement efforts.

What to Expect as Part of MassMutual and the Team

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

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. We welcome all persons to apply.

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.