THE OPPORTUNITY

The Head of Life Products Valuation & Projections will lead the team responsible for the valuation and actuarial reporting for all of MassMutual's life insurance products, our largest line of business.? This includes both our traditional participating life segment as well as our portfolio of non-traditional life products. This leadership role within the Actuarial department will drive the delivery of accurate financial information and analysis that is actionable and forward-thinking. This senior leader will be a trusted partner to various internal and external stakeholders and manage a team of currently 12 actuarial and quantitative professionals.? In addition, this leader will be engaged in leading strategic valuation initiatives, and exhibit superior leadership competencies and communication skills to engage effectively with senior management and external stakeholders on a frequent basis.

WHAT GREAT LOOKS LIKE IN THIS ROLE

This strategic leader will exhibit strong leadership presence and communications skills in presenting technical results to various levels of management. This will require thought leadership and entail developing sound valuation methodologies and assumptions, efficient processes, and robust modeling capabilities to effectively deliver timely and insightful results.? This individual will be proactive in developing team vision & strategy, driving change and transformation of our valuation capabilities, and executing on projects effectively and efficiently. This leader will play a key role in actively managing team performance and developing talent within the valuation team and the broader actuarial community. This leader demonstrates the technical and leadership competencies and passion for continuous improvement to be considered a strong successor candidate to the appointed actuary.

THE KEY OBJECTIVES AND IMPACT

Leadership, Culture and Engagement: Contribute to continuous improvement and culture

• Exhibits passion, curiosity and pursue learning opportunities. Takes ownership of professional development of self and team.
• Drive collaborative solutions and results by seeking and valuing diverse backgrounds, experiences and perspectives, and driving execution.
• Maximize team effectiveness by driving a compelling vision & strategy, managing priorities effectively and adapting quickly to achieve goals.
• Earn confidence and trust by demonstrating ownership, commitment, and follow-through in achieving results.
• Give employees opportunities to learn and grow; and help them identify the right developmental actions to help them improve.
• Create an environment where the team is inspired, engaged and motivated to deliver quality work and continuously improve capabilities.

Reporting and Analysis: Analyze results/provide insights

• Oversee monthly/quarterly preparation, analysis and reporting of direct and ceded reserves, DAC, and other actuarial items.
• Oversee preparation of the annual reserve adequacy testing including analysis and communication of results for all Life products.
• Ensure use of the valuation governance framework for monthly responsibilities, model development, testing and management.
• Work to continually improve model processes and streamline work processes.

Trusted Business Partner: Collaborate effectively and provide solutions for business partners

• Prepare and effectively communicate financial information for various customers (e.g. Corp Finance, ERM, Investment Management, Tax, Audit, etc.) and understand the ways assumption / data changes affect results.
• Proactively drive valuation connection to product pricing / repricing and reinsurance / capital transactions.
• Partner on new business initiatives and ensure appropriate implementation into valuation processes.
• Oversee review of Life valuation assumptions and actively participate in experience studies/assumption governance framework.

Valuation Methodology and Systems Management: Interpret, develop and implement valuation methodologies and ensure effective systems supporting valuation processes

• Perform or lead others through analysis and implementation of valuation issues, providing recommendations for action, financial impact.
• Perform or lead others to monitor/influence/implement relevant emerging valuation regulation, determine an appropriate action and inform and influence others, participating on industry committees as relevant.
• Lead team through the development, analysis and enhancement of data and modeling projects for Life by providing strategic direction and decisions.

THE MINIMUM QUALIFICATIONS

• Bachelor's Degree or higher
• Fellow of the Society of Actuaries and Member of the American Academy of Actuaries, and ?Compliant? with regards to SOA CPD Attestation Status
• Minimum of 15 years' actuarial experience in valuation and reporting, and/or in life pricing, assumptions development, risk management
• Demonstrated financial statement knowledge of US Statutory and GAAP reporting
• Proven leadership and talent development experience
• Adept at engaging and inspiring others
• Continuous improvement mindset
• Strong working knowledge of valuation techniques
• Strong working knowledge of US insurance products and pricing
• Strong communication skills, both written and verbal
• Ability to build and maintain strong working relationships across cross-functional groups

THE IDEAL QUALIFICATIONS

• We are seeking someone with executive leadership presence and ability to influence people and strategy, and excellent communication skills and a desire for a continuous improvement mindset.
• Proven ability to lead teams, recruit and develop top talent, and drive team excellence.
• We are also looking for an ability to build and maintain strong working relationships across cross-functional groups and to proactively drive solutions.
• Deep knowledge of life products valuation techniques, regulations and methodologies, including Principles Based Reserves and GAAP LDTI.
• Expertise in leading cash flow testing process and appointed actuary related requirements.

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