Actuary - Annuity Pricing and Profitability

Actuary – Variable Annuity Pricing

Full-Time

Springfield, MA or Boston, MA

The Opportunity

The Variable Annuity Pricing Actuary will be an integral part of the Annuity Pricing team and will use business and technical knowledge to expand and enhance MassMutual’s position in the annuity marketplace.

The Team

The position is part of the Product department within MassMutual’s Brand, Product, and Affiliated Distribution organization. The Annuity Pricing team is responsible for the pricing and profitability of all MassMutual Annuities. In addition to Annuity pricing, the team 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 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 Corporate Actuarial, Enterprise Risk Management, and other stakeholders.

Provide technical guidance, mentoring and training to actuarial students on the Annuity team.

Gain proficiency and be the subject matter expert in Prophet, the 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

Associate of the Society of Actuaries

5+ years’ experience with actuarial software and models

Bachelor’s degree in actuarial science, math, statistics, or related discipline

The Ideal Qualifications

Fellow of the Society of Actuaries

Annuity, ALM or investment experience

Prophet modeling 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

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 business 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.

If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.

Full Time