Actuary - Annuity Pricing and Profitability
Since 1851, MassMutual’s commitment has always been to help people protect their families, support their communities, and help one another. This is why we want to inspire people to Live Mutual. We at MassMutual value diversity and inclusion. We’re people helping people.
A career with us means you will work alongside exceptional people and be empowered to reach your professional and personal goals. Our employees are the foundation of what makes MassMutual a strong, stable and ethical business. We seek and value unique and varied perspectives and experiences because we believe we are stronger when all voices are heard. We invite you to bring your bright, innovative ideas to MassMutual as we continue to help millions of Americans rely on each other.
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The position is part of the Product and Marketing department within MassMutual US. The 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.
- Lead the pricing of new and existing annuity products with a focus on Variable and/or Fixed Indexed 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 both Corporate Actuarial and MassMutual US Product Management & Pricing.
- Provide technical guidance, mentoring and training to actuarial students on the Annuity team.
- Gain proficiency and be the subject matter expert on the pricing actuarial systems GGY Axis and Prophet.
- Take ownership of pricing models and lead model development for new products.
- Drive continuous improvement and efficiencies beyond own scope of responsibility.
- Bachelor’s degree in actuarial science, math, statistics, or related discipline
- FSA, MAAA designations required.
- 5+ years’ experience with actuarial software and models
- 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
- Must be eligible to work in the United State without sponsorship now or in the future
- Annuity, ALM or investment experience is preferred
Ranked No. 77 in the annual FORTUNE ® 500 Ranking (FORTUNE ® Magazine, June 2017) and recognized as a World’s Most Ethical Company by Ethisphere, MassMutual is guided by a single purpose: 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.
Focus on the Customer: We understand our customers well and look for every opportunity to deliver an experience that is clear, easy, personal, human, empowering and trustworthy.
Act with Integrity: We deliver on our promises by being open, honest and humble and by adhering to the letter and spirit of applicable laws, rules, regulations and company policies.
Value People: We respect and learn from each other’s diverse backgrounds, experiences and ideas. We engage and develop people to their greatest potential.
Work Collaboratively: We work together to achieve results by actively listening, seeking, understanding and creating solutions as a unified team driving toward one company, one culture, one brand.
Achieve Results: We focus on winning by exceeding expectations and getting better – everyone, every day.
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