Life & Health ALM Actuary

Life & Health ALM Actuary

Full-Time

Springfield, MA or Boston, MA

The Opportunity

At MassMutual, we’re passionate about helping millions of people find financial freedom and this passion has driven our approach to developing highly interactive digital experiences for our customers. The Corporate Actuarial (CA) organization is focused on being a trusted business partner and go‑to provider of actuarial and business analytics by influencing key business decisions with efficient use of data and technology, while providing our employees with exciting career experiences. To help us achieve our mission, we are hiring an actuary to join the Life & Health team. As an ALM Actuary you will join the team responsible for building and maintaining liability ALM models, managing the ALM production process and collaborating with Investment Management and ERM to produce ALWG and Economic Capital materials. In addition, the role will work with pricing and investment management teams to evaluate the trade‑offs of different investment strategies. You will be a key resource in maintaining our production process, updating ALM assumptions and communicating results to various teams throughout the organization. Additionally, the individual will assist in other cross‑company and cross‑team initiatives, and maintenance of ALM processes.

The Team

The Life & Health ALM team within Corporate Actuarial 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. If you are someone that has a passion for tackling complex problems, continuous improvement, innovative practices, and a curiosity to pursue learning opportunities, this may be the right role for you.

The Impact

• Demonstrates accountability in providing quantitative and qualitative support to Corporate Actuarial, Investment Management, and the Life and Health Product teams by leveraging knowledge of actuarial business functions and risks, and technical facility with computer tools.
• Develop, document, and maintain methodologies, assumptions, qualifications, and computer programs, using a variety tools, to solve challenging actuarial analysis. Demonstrate ownership in learning and collaborating with others to meet customer needs.
• Deliver timely and accurate information to support the Company’s ALM recommendations.
• Research, develop, and implement complex solutions impacting business decisions. Communicate findings and influence decision makers.
• The individual will effect change and help with the redesign and modernization of ALM.
• Partner with other teammates to run the monthly liability production process for life and health products.
• Continually improve model processes, lead model development work, and streamline work processes so we can spend more time analyzing results.
• Collaborate with the Asset Liability Working Group (ALWG) to improve analytics around duration / convexity metrics, liquidity constraints, and ALM strategy changes.
• Use the governance framework, including assumption‑setting, model development and management and data governance to implement new products and produce accurate, informative results.

The Minimum Qualifications

The Ideal Qualifications

What to Expect as Part of MassMutual and the Team

Salary Range

$141,300-$185,400

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. We welcome all persons to apply.

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.

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