Health Valuation and Modeling Actuary
Health Products Valuation & Projections Team
Full time
Springfield, MA or Boston, MA
The Opportunity
At MassMutual, we are dedicated to helping people secure their future and protect the ones they love. The Corporate Actuarial & Business Analytics (CABA) organization supports this mission with actuarial and business analytics, while providing our employees with meaningful career experience. To support the expanding role and influence of CABA within the company, we are hiring an Actuary for the Health Valuation team.
The Team
The Health Valuation Team protects the long-term interests of policyholders by ensuring MassMutual is positioned to meet its future obligations. Responsible for over $7 billion in direct statutory reserves, the team performs statutory, GAAP, and tax valuation and reporting on Disability Income ("DI") and Long-Term Care ("LTC") products across retail and worksite channels. Our work affects regulatory compliance, strategic decision-making and inforce management. For those interested in leveraging and developing their skills in actuarial modeling and interpreting and communicating financial results in a small team environment, this is an exciting role.
The Impact

• Lead activities that improve valuation and/or CFO infrastructure and processes, including data automation and modernization
• Lead AXIS model development, maintenance, and governance
  • Update models for assumption changes and new products
  • Monitor AXIS enhancements, recommend methodology updates, and analyze impacts
• Execute quarterly valuation and annual cashflow testing
• Deliver and explain stat, tax, and GAAP reserve results
• Provide support to key customers, managing expectations for deliverables, providing high-value analysis and problem solving
• Develop business acumen to understand how product design, regulatory requirements, and modeling assumptions affect financial results
• Anticipate errors and improve processes by leveraging communication skills with internal and external partners
• Support and enhance existing controls, and work directly with various audit stakeholders to demonstrate compliance
• Demonstrate agility in responding to stakeholder questions and unexpected results, often at times of peak activity and tight deadlines

The Minimum Qualifications

• FSA (or near FSA) designation required, with MAAA designation
• Bachelor's degree in actuarial science, math, statistics, or related discipline
• 5+ years' relevant actuarial experience, including experience with financial models, systems, databases, and process flows
• 2+ years of experience with AXIS modeling

The Ideal Qualifications

• Demonstrated accountability and ownership of long-term independent projects
• Strong communication skills, both written and verbal
• Continuous improvement mindset
• Ability to build and maintain strong working relationships across cross-functional groups
• Proficient with complex model design and validation techniques
• Expertise with interpreting, problem-solving and explaining financial results on highly visible projects such as Cash Flow Testing
• Experience with product specifications, valuation regulations, modeling assumptions, inforce policy data, and ledger output
• Familiarity with general programming languages such as Visual Basic, SQL, Alation and MicroStrategy
• Proficiency in MS Excel and MS Access
• Strong math, analytical and collaboration skills

#LI-CM1
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: $137,800.00-$180,800.00