The Actuary will lead Variable Annuity pricing, provide actuarial support for filings, and mentor actuarial students, enhancing profitability and competitiveness.
Actuary - Variable Annuity Pricing
Full-Time
Springfield, MA or Boston, MA
The Opportunity
The Variable Annuity Pricing Actuary will be an integral part of the Annuity Pricing team and will use business and technical knowledge to expand and enhance MassMutual's position in the annuity marketplace.
The Team
The position is part of the Product department within MassMutual's Brand, Product, and Affiliated Distribution organization. The Annuity Pricing team is responsible for the pricing and profitability of all MassMutual Annuities. In addition to Annuity pricing, the team is also expected to support, as necessary, all other actuarial aspects of Annuity product management, operations support and distribution interaction. This potentially means active involvement with experience studies, competitive analysis, and other actuarial functions.
The Impact:
The Minimum Qualifications
The Ideal Qualifications
What to Expect as Part of MassMutual and the Team
#LI-BO1
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: $141,300.00-$185,400.00
Full-Time
Springfield, MA or Boston, MA
The Opportunity
The Variable Annuity Pricing Actuary will be an integral part of the Annuity Pricing team and will use business and technical knowledge to expand and enhance MassMutual's position in the annuity marketplace.
The Team
The position is part of the Product department within MassMutual's Brand, Product, and Affiliated Distribution organization. The Annuity Pricing team is responsible for the pricing and profitability of all MassMutual Annuities. In addition to Annuity pricing, the team is also expected to support, as necessary, all other actuarial aspects of Annuity product management, operations support and distribution interaction. This potentially means active involvement with experience studies, competitive analysis, and other actuarial functions.
The Impact:
- Lead the pricing of new and existing annuity products with a focus on Variable Annuities.
- 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 to balance competitiveness and profitability.
- Take ownership in setting pricing assumptions and performing pricing analysis.
- Lead pricing review and approval process with Corporate Actuarial, Enterprise Risk Management, and other stakeholders.
- Provide technical guidance, mentoring and training to actuarial students on the Annuity team.
- Gain proficiency and be the subject matter expert in Prophet, the pricing actuarial software.
- Take ownership of pricing models and lead model development for new products.
- Drive continuous improvement and efficiencies beyond own scope of responsibility.
The Minimum Qualifications
- Associate of the Society of Actuaries
- 5+ years' experience with actuarial software and models
- Bachelor's degree in actuarial science, math, statistics, or related discipline
The Ideal Qualifications
- Fellow of the Society of Actuaries
- Annuity, ALM or investment experience
- Prophet modeling experience
- 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
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Annuity Pricing 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 business with industry leading pay and benefits
#LI-BO1
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: $141,300.00-$185,400.00
Top Skills
Prophet
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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