Address
Form of workActuarial Director, Annuity Experience Studies
Strategic Actuarial Initiatives Team
Full-Time
Boston, MA or Springfield, MA
The Opportunity
This is an opportunity to join a thriving insurance organization. Growth, innovation and a consistent focus on policyholders and customers sets MassMutual apart and gives them a competitive edge in the market. We consistently challenge the organization to deliver stronger and better methods to achieve results and as a result are generating double digit sales growth year after year.
The Team
As a key member of the Strategic Actuarial Initiatives team, MassMutual is looking for an enthusiastic, well-rounded and motivated actuary to lead the Annuity Experience Studies team within the broader Corporate Actuarial and Business Analytics (CABA) team. In this function, this individual will be accountable for Experience Studies and related liability actuarial assumptions across MassMutual's annuity products and is expected to successfully partner with the pricing teams of the various businesses, Enterprise Risk Management (ERM) and CABA.
The Impact
The Minimum Qualifications
The Ideal Qualifications
What to Expect as Part of MassMutual and the Team
#LI-CM1
Salary Range:
$144,800.00-$190,000.00
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.
Strategic Actuarial Initiatives Team
Full-Time
Boston, MA or Springfield, MA
The Opportunity
This is an opportunity to join a thriving insurance organization. Growth, innovation and a consistent focus on policyholders and customers sets MassMutual apart and gives them a competitive edge in the market. We consistently challenge the organization to deliver stronger and better methods to achieve results and as a result are generating double digit sales growth year after year.
The Team
As a key member of the Strategic Actuarial Initiatives team, MassMutual is looking for an enthusiastic, well-rounded and motivated actuary to lead the Annuity Experience Studies team within the broader Corporate Actuarial and Business Analytics (CABA) team. In this function, this individual will be accountable for Experience Studies and related liability actuarial assumptions across MassMutual's annuity products and is expected to successfully partner with the pricing teams of the various businesses, Enterprise Risk Management (ERM) and CABA.
The Impact
- Lead a team of individuals who are responsible for performing the Annuity Experience Studies and developing recommendations for actuarial assumptions related to lapses, partial withdrawals, premium deposits and other dynamic policy holder behavior analysis across all of MassMutual's businesses
- Help drive the vision by focusing data analytics and storytelling related to MassMutual's financials and future expectations based on emerging trends
- Lead the Experience Studies and Assumptions Group (ESAG) Working Group to provide thought leadership on experience study & monitoring topics and collaborate with subject matter experts in Pricing, Valuation, Asset Liability Management (ALM) and ERM areas to approve liability assumptions according to company governance standards.
- Collaborate with Data Science to evaluate new predictive models and provide thought leadership on recommended assumption changes
- Stay abreast of on-going business changes and incorporate that knowledge with critical analysis of experience data to drive solid recommendations to support the Pricing, Valuation and In-Force Management areas
- Closely collaborate with the Actuarial Data Science team in the development of COntinuous Monitoring Experience Tool (COMET)
- Own various regulatory requirements related to experience data and assumptions and collaboratively recommend participation in Industry studies
- Support the development and implementation of Experience Studies best practices, promote consistency, where applicable, with non-Annuity Experience Studies, and ensure adherence to corporate standards on assumption development
- Monitor emerging regulations and Annuity experience trends as they impact applicable aspects of liability assumptions and related actuarial work
- Potential opportunities to participate on select U.S., International and Corporate projects and initiatives, as applicable, including direct or indirect collaboration and participation in various industry groups (e.g. SOA)
The Minimum Qualifications
- Fellow of Society of Actuaries (FSA), or equivalent professional credential from recognized professional actuarial association
- 7+ years of insurance and Annuity Experience, preferably in the U.S. market, in areas such as Experience Studies, pricing, valuation and/or reinsurance
The Ideal Qualifications
- Strong knowledge of actuarial concepts and practices; experience with quantifying, analyzing and managing a range of assumptions and/or product risks
- Innovative, self-motivated and independent with strong analytical, critical thinking, and problem-solving skills; comfortable dealing with both complexity and ambiguity, 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
- Keen team player with strong leadership and partnership abilities
- 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 Experience Studies 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 nosiness with industry leading pay and benefits
#LI-CM1
Salary Range:
$144,800.00-$190,000.00
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.
