Hedging Actuary
The Opportunity
As the Hedging Actuary you will join the team responsible for building and maintaining liability hedging models, managing the hedging production process and collaborating with Investment Management and ERM to produce Variable Annuity Risk Committee agenda items and materials. In addition, the role will work with pricing and investment management teams to evaluate the trade-offs of different hedging strategies. You will be a key resource in maintaining our production process, updating hedging assumptions and communicating results to various teams throughout the organization.
The Team
The ALM & Hedging team within CABA is charged with supporting the company's execution of its strategies from a liability point of view. We own the production of liability metrics needed to execute these strategies, but we also partner with investment management, ERM, and Product in the development and ongoing management of these strategies. We are a small team, so agility is important. While we have chosen to define responsibilities as either ALM or Hedging, it's expected that there will be opportunities to flex across the team as demands change.
The Impact:
- Partner with other teammates to run the weekly liability Greek production process for variable annuity hedging program.
- Continually improve model processes and streamline work processes so we can spend more time analyzing results.
- Collaborate with the Variable Annuity Risk Committee (VARC) members to improve analytics around hedge effectiveness, hedge cost and alternative hedging strategies.
- Play a key role Fixed Indexed Annuity Risk Committee (FARC), preparing materials and leading conversation.
- Use the valuation governance framework, including assumption-setting, model development and management and data governance to implement new products and produce accurate, informative results.
The Minimum Qualifications
- Bachelor's Degree or higher
- Fellow or Associate of the Society of Actuaries
- Minimum of 5 years' experience in modeling, hedging, risk management and/or in reporting, pricing, assumptions development
- Expertise in data and model management
- Continuous improvement and strong controls mindset
- Working knowledge of US annuity products
- Strong communication skills, both written and verbal
The Ideal Qualifications
- Strong modeling and technical skills, but also a healthy intellectual curiosity and willingness to think outside the box
- Ability to build and maintain strong working relationships across cross-functional groups and to proactively resolve issues
- Knowledge of variable annuity products, risk management techniques, regulations and methodologies
- Experience with Prophet and/or Atlas modeling platforms
What to Expect as Part of MassMutual and the Team
- Regular meetings with the ALM & Hedging 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
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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.