Massmutual Financial Group Springfield , MA 01105
Posted 1 week ago
POSITION SUMMARY
Reports to: Head of Institutional Product and Actuarial
MassMutual is seeking an accomplished Leader and Actuary to join the company's Institutional Product and Actuarial team within MassMutual Institutional Solutions. The Institutional businesses, particularly Stable Value Investments are undergoing growth and represent a key component of the company's overall business strategy. MassMutual is an industry leading provider of stable value with over three decades of stable value experience and a large book of business across a broad product suite of general account, separate account, CIT and wrapped solutions.
The Role:
This is a management role where the incumbent will utilize strong leadership, influence, product and technical knowledge to influence strategy and help drive risk-controlled profitable growth. The primary responsibilities will be to support the Stable Value line of business in areas of new product development, pricing as well as In-force product management, underwriting, and financial & risk management. A strong understanding of fixed income portfolio management and investment risk management is highly desirable. This role requires deep collaborative mind-set and high accountability. A successful candidate will build effective relationships with key stakeholders such as head of the business, business team, product and actuarial oversight, legal and other MassMutual functions as well as interact with external clients, intermediaries and partners as needed.
Key Responsibilities:
Management and development of the Stable Value actuarial team
Oversee the Stable Value pricing & product development process internally including prioritizing work being accountable for timely execution and delivery to the business
Oversee Stable Value asset and liability monitoring and management processes
Develop and bring to market new MassMutual products particularly in the Adviser segment of the market, including both general and separate account solutions
Oversee modifications of existing products including pricing, contracts, filing, risk assessment, and approvals from our corporate risk functions working in close partnership with the business lines
Maintenance of the Stable Value products including setting crediting rates, market value calculations, annuity rate calculations, and other product support needed for Stable Value
Manage team for underwriting new business and participating in contract negotiations as needed.
Financial & Risk analyses including capital usage, scenario modeling, investment strategies, risk limits, profit metrics, and actual to expected analyses
Risk Reporting and Re-Underwriting of Stable Value
Serve as a Key Liaison with corporate risk & finance functions, support the business as a critical technical partner
Solicit & analyze competitive data and develop strategies to ensure competitive pricing that fits within enterprise and business risk tolerances
Analyzing in depth available portfolio information underlying nearly 80 portfolios across various investment mandates representing over $30 Billion in assets
Leading other significant projects related to fixed income investments for Institutional Products
Assumptions & experience studies
Influence and contribute to ongoing business strategy and growth
Other unanticipated Stable Value actuarial projects in support of the Institutional businesses
QUALIFICATIONS
An accomplished FSA with experience in pricing, product development or investments
10+ years experience in an Actuarial leadership role
Exceptionally strong knowledge of fixed income markets and instruments
Prior work in understanding of the stable value products and markets - Institutional wrap as well as general account solutions applied to various Defined Contribution plans
Demonstrates initiative and sense of urgency; delivering on multiple concurrent deliverables that are not always known in advance in a dynamic constantly evolving business line
Takes ownership and is results-orientated with a high accountability
Commitment to transparency and inclusive behaviors in dealings with business and other cross functional teams
Strong management skills with the ability to develop, coach, and delegate to a team of actuaries
Disciplined approach to strategic initiatives, business projects and day-to-day activities
Ability to analyze and comprehend complex information, as well as convey complex materials to non-technical audiences.
Comfortable dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem to meet the needs of our clients
Detail oriented with strong analytical, critical thinking and problem-solving skills
Excellent interpersonal and communication skills (written, verbal, presentation)
Advanced business degree and/or professional qualifications
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Salary Range:
$180,700.00-$237,100.00
At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.
Why Join Us.
We've been around since 1851. During our history, we've learned a few things about making sure our customers are our top priority. In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services. To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone. A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits. And your voice will always be heard.
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. We are a company of people protecting people. Our company exists because people are willing to share risk and resources, and rely on each other when it counts. At MassMutual, we Live Mutual.
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.
At MassMutual, we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component. For more information about our extensive benefits offerings please check out our Total Rewards at a Glance.
Massmutual Financial Group