Pension Actuary at MassMutual
The Defined Benefit Actuarial team provides valuation and consulting services on the funding strategy and plan design of qualified defined benefit retirement plans as well as pension risk transfer group annuity contracts. The annual valuations for the defined benefit retirement plans determine required and permitted contributions, provide information for company accounting reporting, and government filing purposes necessary to retain the plan’s tax qualified status.
- Consults with clients on all aspects of their Retirement Program with a focus on their DB plan.
- Uses judgment to engage other resources (internal and external) as needed.
- Coordinates/oversees resources to deliver/manage client assignments, such as plan design, funding and accounting strategies, nondiscrimination testing, general compliance, PPA/ERISA requirements, implementation of plan mergers and terminations, review of government reports, annual results delivery and annual filings. Responsible for the quality, clarity and timing of all actuarial services delivered to clients.
- Actively supports complex integrated investment/funding strategies including ALM, LDI and glide path strategies.
- Positively represents our DB capabilities and supports marketing endeavors and business development opportunities.
- Capability to clearly interpret and communicate group annuity contract language as well as associated benefit calculations
- The ability to provide guidance and mentorship to benefit calculation analysts
- Bachelor’s Degree in Math, Finance or Actuarial Science
- Enrolled Actuary (EA) designation is required
- 5+ years of Pension Actuarial experience
- Advanced knowledge of Excel, Word, and Access and ability to learn new systems quickly
- Strong interpersonal and communication skills; able to document complex issues,
- Demonstrate continuous improvement mindset
- Ability to effectively prioritize multiple deliverables
- Ability to manage multiple, complex tasks and meet tight deadlines with focus on quality and customer service
- Adaptable to changing priorities and continually look for new ways to improve processes
- Organized, attentive to detail, and able to work independently
- Authorized to work in the United States without sponsorship now or in the future
- 7+ years of Pension Actuarial experience