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Actuarial Director, Annuity Experience Studies

Boston, Massachusetts Actuarial R14606
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Actuarial Director, Annuity Experience Studies

Strategic Actuarial Initiatives Team

Full-Time

Boston, MA or Springfield, MA

The Opportunity

This is an opportunity to join a thriving insurance organization. Growth, innovation and a consistent focus on policyholders and customers sets MassMutual apart and gives them a competitive edge in the market. We consistently challenge the organization to deliver stronger and better methods to achieve results and as a result are generating double digit sales growth year after year. 

The Team

As a key member of the Strategic Actuarial Initiatives team, MassMutual is looking for an enthusiastic, well-rounded and motivated actuary to lead the Annuity Experience Studies team within the broader Corporate Actuarial and Business Analytics (CABA) team. In this function, this individual will be accountable for experience studies and related liability actuarial assumptions across MassMutual’s annuity products and is expected to successfully partner with the pricing teams of the various businesses, Enterprise Risk Management (ERM) and CABA.

The Impact

  • Lead a team of individuals who are responsible for performing the Annuity experience studies and developing recommendations for actuarial assumptions related to lapses, partial withdrawals, premium deposits and other dynamic policy holder behavior analysis across all of MassMutual’s businesses
  • Help drive the vision by focusing data analytics and storytelling related to MassMutual’s financials and future expectations based on emerging trends
  • Lead the Experience Studies and Assumptions Group (ESAG) Working Group to provide thought leadership on experience study & monitoring topics and collaborate with subject matter experts in Pricing, Valuation, Asset Liability Management (ALM) and ERM areas to approve liability assumptions according to company governance standards.
  • Collaborate with Data Science to evaluate new predictive models and provide thought leadership on recommended assumption changes
  • Stay abreast of on-going business changes and incorporate that knowledge with critical analysis of experience data to drive solid recommendations to support the Pricing, Valuation and In-Force Management areas
  • Closely collaborate with the Actuarial Data Science team in the development of COntinuous Monitoring Experience Tool (COMET)
  • Own various regulatory requirements related to experience data and assumptions and collaboratively recommend participation in Industry studies
  • Support the development and implementation of experience studies best practices, promote consistency, where applicable, with non-Annuity experience studies, and ensure adherence to corporate standards on assumption development
  • Monitor emerging regulations and Annuity experience trends as they impact applicable aspects of liability assumptions and related actuarial work
  • Potential opportunities to participate on select U.S., International and Corporate projects and initiatives, as applicable, including direct or indirect collaboration and participation in various industry groups (e.g. SOA)

The Minimum Qualifications

  • Fellow of Society of Actuaries (FSA), or equivalent professional credential from recognized professional actuarial association
  • 7+ years of insurance and annuity experience, preferably in the U.S. market, in areas such as experience studies, pricing, valuation and/or reinsurance

The Ideal Qualifications

  • Strong knowledge of actuarial concepts and practices; experience with quantifying, analyzing and managing a range of assumptions and/or product risks
  • Innovative, self-motivated and independent with strong analytical, critical thinking, and problem-solving skills; comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to problems and challenges
  • Effective time management, planning and organization skills
  • Strong interpersonal, communication and influencing skills: ability to convey complex issues, explain methodologies and influence resolutions in writing and orally
  • Keen team player with strong leadership and partnership abilities
  • Ability to rapidly respond to changes in direction, tight deadlines and high-pressure situations

What to Expect as Part of MassMutual and the Team

  • Regular meetings with the Experience Studies 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 nosiness with industry leading pay and benefits

#LI-CM1

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.
Salary Range: $144,800.00-$190,000.00 Apply

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At MassMutual, we believe in the value of being together in our offices and in personal flexibility.

Our work environment is one where the majority of our team members work a hybrid schedule — working at least three days in the office (Tuesday, Wednesday and a third day) and the rest remotely, balancing flexibility with in-person collaboration. While the majority of our employees follow this hybrid model, some of our roles continue to be 100% on-site and others may be 100% remote, subject to business needs.

MassMutual is guided by a single purpose: We help people secure their future and protect the ones they love. As a company operated for the benefit of our members, policyowners and customers, 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.

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