Actuarial Product Oversight Consultant

Actuary, Product, Pricing and Assumptions Oversight

Full-Time

Boston, MA or Springfield, MA or NY, NY

The Opportunity  

MassMutual is seeking an enthusiastic, well-rounded and motivated actuary to join the Product Pricing & Assumptions Oversight team within the broader Corporate Actuarial (CA). In this function, this individual will contribute to the pricing and assumptions oversight of all of MassMutual’s insurance products and is expected to successfully partner with the pricing teams of the various businesses.

The Team  

The Product Pricing & Assumptions Oversight function is part of the Corporate Actuarial team.  This team is responsible for all oversight of pricing, product development & assumptions across all MassMutual product areas.  The group works collaboratively amongst itself as well as with the various product teams to ensure that all aspects of product development and management align with MassMutual’s strategic goals and objectives.

The Impact:  

As a key member of the Product, Pricing, and Assumptions Oversight team you will:

• Leverage solid technical expertise to provide value-added support and guidance to all actuarial aspects of new product development and inforce product re-pricings (assumptions, pricing methodologies and profitability)

• Support the analysis and maintenance of major elements of Actuarial Pricing Review including metric setting, target/hurdle rates, mix of business and capital allocation

• Monitor and analyze sales, emerging experience, profitability and risk exposures of the company’s new and inforce products including responsibility for analysis and reporting of value of new business metrics used for management decision making

• Enforce corporate guidelines and governance processes with respect to product pricing and re-pricings, and assumptions oversight

• Stay abreast of emerging regulations as they impact applicable aspects of products being priced and related actuarial work

• Participate on select Corporate projects and initiatives

• 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  

• ASA or FSA designation

• Bachelor’s Degree or higher in Actuarial Science, Accounting, Business, Economics, Finance or Mathematics

• 5+ years of life and annuity experience, preferably in the U.S. market, in areas such as pricing, valuation, reinsurance and/or capital management

The Ideal Qualifications  

• Solid knowledge of actuarial and risk management concepts and practices; experience with quantifying, analyzing and managing a range of product risks 

• 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, Assumptions Oversight 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 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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