The Actuarial Consultant will support pricing for fixed and income annuities, automate processes, and collaborate with various stakeholders while gaining proficiency in pricing software.
Actuarial Consultant - Fixed & Income Annuity Pricing
Full-Time
Springfield, MA or Boston, MA
The Opportunity
As a member of the Fixed & Income Annuity Pricing team, you will help support the pricing of a $10B+ fixed and income annuity business. You will work in a collaborative environment partnering with a diverse group of stakeholders representing both the sales and risk management sides of the business. You will also help modernize and automate several key processes related to both rate setting and rate implementation to free up time for strategic projects.
The Team
The annuity pricing team is a motivated group focused on maintaining our position as a market leader in the annuity space. In this role you will interact mainly with the Annuity product team, distribution (Career Agency and third party), and corporate oversight teams to help us balance competitiveness and profitability.
The Impact:
The Minimum Qualifications
The Ideal Qualifications
#LI-ST1
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.
Salary Range: $113,100.00-$148,400.00
Full-Time
Springfield, MA or Boston, MA
The Opportunity
As a member of the Fixed & Income Annuity Pricing team, you will help support the pricing of a $10B+ fixed and income annuity business. You will work in a collaborative environment partnering with a diverse group of stakeholders representing both the sales and risk management sides of the business. You will also help modernize and automate several key processes related to both rate setting and rate implementation to free up time for strategic projects.
The Team
The annuity pricing team is a motivated group focused on maintaining our position as a market leader in the annuity space. In this role you will interact mainly with the Annuity product team, distribution (Career Agency and third party), and corporate oversight teams to help us balance competitiveness and profitability.
The Impact:
- Support the pricing of new and existing annuity products with a focus on Fixed and Income Annuities
- Automate repetitive tasks to eliminate routine manual work wherever possible
- Create and maintain an efficient process for communicating income and credited rate decisions to key business partners
- Support negotiations with reinsurance partner and corporate oversight to maximize profitability and competitiveness
- 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
- Participate in pricing review and approval process with Corporate Actuarial, Enterprise Risk Management, and other stakeholders.
- Gain proficiency and be the subject matter expert in Prophet, the pricing actuarial software.
The Minimum Qualifications
- Bachelor's degree in actuarial science, math, statistics, or related discipline
- Significant progress towards actuarial credentials (4+ actuarial exams completed)
- 1+ years of experience with fixed annuities, income annuities, and/or Pension Risk Transfer
The Ideal Qualifications
- Associate of the Society of Actuaries
- Annuity, ALM or investment experience
- Experience with fixed and income annuities
- Prior experience with actuarial software and models such as AXIS, Prophet, or ALFA
- Experience with automation tools such as Alteryx, Python and/or VBA
- 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
#LI-ST1
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.
Salary Range: $113,100.00-$148,400.00
Top Skills
Alfa
Alteryx
Axis
Prophet
Python
VBA
MassMutual Boston, Massachusetts, USA Office
Our new Boston campus opened in November in the Seaport neighborhood.
Boston Campus
Just like MassMutual, Boston's Seaport district is surrounded by decades of history, yet is now being recognized as a hub for digital innovation and professional growth. With us you can develop the skills you need to build a successful future and connect with talented and collaborative colleagues working together to help people secure their future and protect the ones they love.
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