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Actuarial Director - Variable and Fixed Indexed Annuity Pricing

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The Opportunity

As an Actuarial Director you will be a part of the Annuity Product organization within MassMutual US and report to the Head of Annuity Pricing.? The annuity organization will rely on you to be a financial steward of the business, ensuring sound pricing decisions are made.? As an Actuarial Director, you will lead a team of seasoned actuaries and/or actuarial students, managing the team?s priorities and the developing members of the team.? You will be in a position to influence the long-term strategy of the business and effective communication of that strategy will be paramount.? If you possess strong technical knowledge, are passionate about developing people, and are an effective communicator, keep reading!?

The Team

The team is responsible for the pricing and profitability of all MassMutual Annuities. This position will lead the team tasked with setting and executing the pricing strategy for MassMutual?s variable and fixed indexed annuities.? In addition to Annuity pricing, this role 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 and Fixed Indexed 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 both Corporate Actuarial and MassMutual US Product Management & Pricing.
Provide technical guidance, mentoring and training to actuarial students on the Annuity team.

Gain proficiency in the FIS Prophet 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

Bachelor?s degree in actuarial science, math, statistics, or related discipline
Fellow of the Society of Actuaries
5+ years of experience with actuarial software and models
Proven leadership and talent development experience

The Ideal Qualifications

Experience with variable annuity risk management and hedging
ALM or investment 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
Strong competence in the following areas ? accountability, agility, business acumen, communication, courage, development, inclusion, leading others, resilience and self-awareness

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 nosiness with industry leading pay and benefits

About MassMutual

We?ve been around since 1851. During our history, we?ve helped millions of people find financial freedom, offer financial protection, and plan for the future.

Today, we continue to develop meaningful relationships with our customers by building their trust, being knowledge problem solvers and always prioritizing their needs. MassMutual is guided by a single purpose: We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first. It?s more than our company structure ? it?s our way of life. ?

MassMutual was recognized as an Ethisphere 2019 World?s Most Ethical Company, a Top Place to Work in 2019 according to The Boston Globe and named among America?s Best Employers for Diversity according to Forbes 2020. MassMutual ranks No. 84 on the Fortune 500 list of largest companies.?

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

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Alex Mark

Director of Migration Technology

SYNERGISTIC INNOVATION

Making finance fun, agile and innovative

To Alex Mark, ‘synergy’ isn’t a buzzword. It’s what he works to optimize as MassMutual’s director of migration technology. Whether it’s sunsetting a legacy company platform or transitioning from another organization’s tech stack through a merger or acquisition, he aims to make these shifts as synergistic as possible. Mark, who has a background in both tech and finance, said, “What makes MassMutual different in fintech is that it gives you a place to innovate.” He added, “Our agile mindset allows us to quickly pivot in the industry. The way we look at finance is fun, agile and innovative.”

The culture here is great, especially if you’re a dev or into tech — there are tons of growth resources available to you. MassMutual does a great job of serving customers while also encouraging employees to think outside the box and innovate.

Asieh Ahani

Head of Data Analytics

Personal Growth

Observing trends and solving problems

Asieh Ahani leads the data analytics team at MassMutual. Her team is constantly observing the latest industry trends so they can solve problems at scale and track the impact on the organization. Her team, she said, “is empowered to harness technology to drive data-driven decision-making.” When it comes to what sets MassMutual apart, Ahani said her team and the company overall value iterative progress for self-improvement on professional growth, wellness and work-life balance.

I joined MassMutual because the type of projects my team was working on were very interesting and aligned with my interests and expertise in leveraging data science. I stayed because I had a great career path here.

Kymberly Terry

Digital Team Lead

Diversity, Equity & Inclusion

Supporting colleagues and celebrating wins

As a digital team lead at MassMutual, Kymberly Terry knows the value of creating strong cross-functional connections in a product team. One of the best experiences with that she had, she said, was the rotating DEI discussion groups that were intentionally made up of people from different teams and weren’t led by managers. “A scrum expert could be having a conversation with a product manager from a different team. It was another way to support your colleagues and celebrate their wins and to know where they might be having challenges,” she said. “It was also a catalyst for equity.”

One of the things that I appreciate the most about being a part of my team is really the inclusive culture. It's ingrained in every aspect of not only the work that we do, but also the way we interact with each other.

What are MassMutual Perks + Benefits

MassMutual Benefits Overview

At MassMutual, employees have the opportunity to earn a competitive salary and bonus, enroll in an
array of benefits, and participate in programs and services that support healthy lifestyles, assist them
in building financial security for themselves and their families and help them live well-balanced lives.

Culture

Volunteer in local community

Every action supporting a common cause is meaningful, and our employees make a difference in their own communities through our Matching Gift, Matching Time and Volunteer Time Off Programs.

Partners with nonprofits

Every year, MassMutual and the MassMutual Foundation invest more than $20 million focused on advancing economic opportunity. https://www.massmutual.com/about-us/corporate-responsibility/foundation

Open door policy

OKR operational model

Team based strategic planning

Open office floor plan

Employee resource groups

Employee-led culture committees

Hybrid work model

In-person all-hands meetings

Employees can either attend the in-person all-hands meeting, watch live via Zoom, or watch the recording. All employees are invited to submit questions.

Employee awards

Flexible work schedule

Flexible work arrangements, including telecommuting, are available in many departments across the company.

Remote work program

In addition to two remote days per week, MassMutual offers employees four full remote weeks of their choice per year.

Diversity

Documented equal pay policy

Dedicated diversity and inclusion staff

Highly diverse management team

More than half of our Board of Directors are comprised of women and people of color, making it one of the most diverse groups in the industry.

Mandated unconscious bias training

Diversity manifesto

Diversity employee resource groups

Hiring practices that promote diversity

Diversity recruitment program

Health Insurance & Wellness Benefits

Flexible Spending Account (FSA)

A health care flexible spending account (FSA) allows employees to save money on a before-tax basis for eligible medical, dental and vision expenses, subject to IRS limits.

Disability insurance

For details on short term and long term disability insurance please visit https://www.massmutual.com/-/media/files/employee_benefits.pdf

Dental insurance

Basic Dental covers preventive and basic restorative care; Major Dental covers all that Basic covers, plus restorations and orthodontia (limits apply).

Vision insurance

Health insurance

To learn more about our Health and Welfare Benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf

Life insurance

For more information about our Life Insurance Benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf

Pet insurance

Wellness programs

Team workouts

Mental health benefits

Transgender health care benefits

Wellness days

Abortion travel benefits

Our general medical travel benefit covers abortion-related travel.

Financial & Retirement

401(K)

In addition to our 401(k), MassMutual a cash balance plan that provides an account-based pension benefit based on accruals of pay credits and interest credits.

401(K) matching

Performance bonus

Charitable contribution matching

Every action supporting a common cause is meaningful, and our employees make a difference in their own communities through our Matching Gift and Matching Time Programs.

Pay transparency

Child Care & Parental Leave Benefits

Childcare benefits

Dependent care flexible spending account to allow you to set aside before tax dollars to pay for certain eligible child care expenses.

Generous parental leave

Leave for birth mothers of 18 weeks of fully paid leave. Non-birth mothers, fathers and adoptive parents eight weeks of fully paid parental leave.

Family medical leave

Caregiver leave: Up to two weeks paid leave to care for a loved one. Bereavement Leave: 15 days of paid time off to grieve the loss of a loved one with the employee defining who the loved one is.

Adoption Assistance

Company sponsored family events

MassMutual offers many opportunities for family events, from group volunteer experiences and chances to attend Red Sox games to business resource group-sponsored outings like annual pride parades.

Fertility benefits

Vacation & Time Off Benefits

Generous PTO

Paid holidays: 9 fixed and 1 floating. Vacation: starts at 19 vacation and personal days per calendar year, with increases at 5-year service intervals.

Paid volunteer time

Three days of paid time off is available to employees annually to give back to their communities, by sharing their time and talent with a cause close to their heart.

Paid holidays

Paid sick days

Occasional illness: up to 5 days per calendar year.

Flexible time off

Floating holidays

Bereavement leave benefits

Hardship benefits

320 hours of caregiver leave to take of loved ones when it matters most.

Office Perks

Commuter benefits

Free daily meals

Free snacks and drinks

Some meals provided

Onsite office parking

Recreational clubs

Relocation assistance

Fitness stipend

Home-office stipend for remote employees

MassMutual's wellness wallet is a stipend available to all employees, and can be used for myriad wellness-related purchases, including home-office purchases.

Meditation space

Mother's room

Onsite gym

Professional Development Benefits

Job training & conferences

Tuition reimbursement

Lunch and learns

Promote from within

Mentorship program

Continuing education stipend

Continuing education available during work hours

Online course subscriptions available