MassMutual
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Hybrid

Head of Actuarial and Investment Audit

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MassMutual is seeking an enthusiastic, well-rounded and motivated actuary to lead the Actuarial & Investments Audit Team as a key member of the Corporate Audit Leadership Team.? Corporate Audit consists of approximately 50 professionals across MassMutual businesses at several locations worldwide and reports directly to the Audit Committee of the MassMutual Board of Directors.? Our leaders are driving exciting and challenging initiatives supporting MassMutual's strategic focus on growing the business, enhancing profitability, and focusing on the customer, while also enhancing effectiveness and efficiency.

 

MassMutual has a very active and vibrant actuarial community.? In this leadership role, this individual will be accountable for assessing risks, governance and controls in the various actuarial and investments areas across all of MassMutual?s insurance and investment products, while collaborating on innovative and effective control and governance enhancements.? Key stakeholders include the product, pricing, valuation, investment management and risk management areas within the first line business functions, as well as the second line Enterprise Risk Management, Compliance and related control functions.

 

The Actuarial and Investments Audit Team:

Audits actuarial calculations, methods, and assumptions;

Evaluates actuarial and investment processes, controls and governance;

Evaluates actuarial functions such as valuation, product management, and management of established and emerging risks;

Evaluates consistency with applicable Actuarial Standards of Practice; and

Partners with other Corporate Audit teams on cross-functional audits.

 

As Head of Actuarial & Investments Audit, this individual is expected to:

 

  • Design, lead, and deliver risk-based actuarial and investment audits in complex and sensitive areas such as valuation, pricing, investment management and risk management.

  • Collaborate with other Corporate Audit Department leaders to make our leadership team more inclusive and effective, and drive strategy and coordination for control functions.

  • Influence MassMutual actuaries using expertise in actuarial methods, workflows, and risks.

  • Identify and prioritize audits aligned to MassMutual's strategy and top enterprise risks, reflecting input from senior actuaries and governance functions, observations from prior audits, and external perspectives on strategy, actuarial practice, and regulatory developments.

  • Evaluate actuarial methods, assumptions, processes, and controls for reasonableness, compliance with corporate standards, and Actuarial Standards of Practice.

  • Attract talent, develop the team, and coach the team to deliver valuable audit work covering all actuarial functions and meeting professional audit standards.

  • Influence and persuade business partners to improve controls and implement mitigations.

  • Champion continuous improvement efforts by driving decisions and execution.

  • Serve as a subject matter experts and partner with other audit managers to execute joint audits.

 

Reports to: General Auditor

Peers: Head of MassMutual US Audit, Head of Information Technology Audit, Head of Audit Data Analytics

Subordinates: Manage team of 4 auditors

This is an opportunity to join a thriving insurance organization. Growth, innovation and a consistent focus on policyholders and customers sets MassMutual apart and gives them a competitive edge in the market. We consistently challenge the organization to deliver stronger and better methods to achieve results and as a result are generating substantial recurring annual growth.?

 

CANDIDATE QUALIFICATIONS

  • Fellow of Society of Actuaries (FSA), or equivalent professional credential from recognized professional actuarial association

  • 10 years of work experience with a minimum of 7 years of insurance, annuity and investment experience, preferably in the U.S. market, in areas such as product, pricing, valuation, reinsurance, and investment management

  • Strong knowledge of actuarial concepts and practices; experience with quantifying, analyzing and managing a range of product risks

  • Sufficient knowledge and credibility to be considered a trusted advisor for actuarial and investment functions and

  • Demonstrates professional courage and willingness to appropriately challenge and defend findings and enhancement opportunities

  • Innovative, self-motivated and independent with strong analytical, critical thinking, and problem-solving skills; comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to problems and challenges

  • Effective planning, project management, time management and organization skills

  • Strong interpersonal, communication and influencing skills: ability to convey complex issues, explain methodologies and influence resolutions in writing and orally

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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
Customized development tracks
Paid industry certifications
Personal development training
Virtual coaching services

Additional Perks + Benefits

To learn more about our comprehensive benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf

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