Mutual Opportunities
Actuary, Consolidated Reporting & Capabilities
Boston, Massachusetts; Springfield, Massachusetts
Thank you to our employees for voting us one of the top places to work in Massachusetts for five consecutive years!
Overview
A career with us means you’ll work alongside exceptional people and be empowered to reach your professional and personal goals. Our employees are at the foundation of what enables MassMutual to deliver on our purpose to help people secure their futures and protect the ones they love.
We embrace the idea that we all are stronger and better through our support for one another. We strive to create a culture where employees feel valued and are celebrated for who they are.
“Since our founding in 1851, mutuality has put our policyowners at the center of everything we do. At our core, we’re a company of people helping people in their time of need, and that spirit extends to the culture we’ve built at our company. Our employees support and rely on each other each day, collaborating to deliver the best solutions for our customers and help millions more secure their future and protect the ones they love.”
Job Description
Actuary, Consolidated Reporting & Capabilities
Consolidated Reporting & Capabilities Team
Full-Time
Boston, MA or Springfield, MA or New York, NY
The Opportunity
The Actuary will be responsible for supporting MassMutual’s actuarial valuation consolidated reporting and providing data and modeling expertise to ensure effective capabilities across the department. This role will also support the Head of Consolidated Reporting & Capabilities in managing the annual cash flow testing process and performing results analysis. The successful candidate will collaborate with various internal/external stakeholders and work closely with production valuation teams to improve model processes and streamline workflows.
The ideal candidate will exhibit strong technical expertise in insurance products, financial reporting, and valuation modeling. They will be proactive in identifying and implementing process improvements to enhance valuation reporting processes and capabilities by unlocking untapped potential in data management and process flows. This individual will be a trusted partner, contributing to the continuous improvement of our valuation tools and processes, while ensuring alignment with end-user requirements.
The Team
The Consolidated Reporting & Capabilities Team is focused on reporting for all of MassMutual’s line of business and utilizing financial data to drive important changes to our valuation processes, models, controls, financial statements and disclosures. The team needs to build strong relationships with its key stakeholders within CFO organization and is in a prime position to ensure we have effective capabilities across all valuation teams. We are seeking an individual that will help modernize and transform the delivery of accurate financial information and analysis through the use of various data and modeling tools.
The Impact
Reporting and Analysis:
- Prepare and deliver reporting of monthly/quarterly consolidated valuation results, including year-end reporting exhibits.
- Support the annual asset adequacy testing process, including aggregation of results, analysis, and communication.
- Ensure use of the valuation governance framework for reporting, model development, testing, and management.
- Provide technical expertise and support to production valuation teams to continuously improve model processes and streamline workflows.
Trusted Business Partner:
- Prepare and effectively communicate financial information to various internal and external stakeholders, understanding the impact of regulation, valuation assumption/data changes on results.
- Collaborate with Valuation leads, Forecasting, Corporate Finance, Technology, and Risk teams to ensure that consolidated reporting results and processes, data, and modeling updates meet reporting requirements and control standards.
- Drive valuation data and modeling projects with various stakeholders including production valuation teams, reinsurance, controllership, and other relevant departments.
Valuation Data & Modeling Support and Process Improvements:
- Support projects related to valuation data and modeling by collaborating across teams to ensure effective delivery.
- Conduct research on best practices related to data and modeling, including emerging regulatory requirements, and recommend approaches to implement new capabilities.
- Identify and implement process improvements and new capabilities to enhance valuation and reporting processes
The Minimum Qualifications
- Bachelor's degree in Actuarial Science, Mathematics, Economics, Finance, Statistics, or a related field
- ASA or FSA with 5+ years of actuarial experience
- 2+ years experience with SQL, Python and/or R
- 1+ years experience in data management and actuarial modeling, and experience working with valuation systems, data lake and related reporting tools
The Ideal Qualifications
- FSA highly desired.Experience with Moody’s AXIS and/or Prophet Modeling Platforms
- 7+ years actuarial experience in modeling, valuation, and reporting, or in pricing, assumptions development, or risk management.
- Continuous improvement and strong controls mindset
- Strong communication skills, both written and verbal
- Ability to build and maintain strong working relationships across cross-functional groups
- Demonstrated financial statement knowledge of US Statutory and GAAP reporting, including Principles Based Reserves (PBR) and GAAP Long Duration Targeted Improvements (LDTI)
- Strong modeling, technical and leadership skills with ability to effectively execute on valuation processes and communicate results.
- Deep knowledge of life insurance and annuity products, valuation techniques, regulations and methodologies.
- Experience with cash flow testing and/or actuarial projections.
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Actuarial Valuation 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
#LI-ST1
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.
MassMutual will accept applications on an ongoing basis until such time as a candidate has been offered employment.
Salary Range: $137,800.00-$180,800.00
Hiring Process
Explore
Explore our open jobs by clicking 'search jobs' to find a position that aligns with your experience and skills. You may also consider joining our Talent Network.
Apply
Click the “apply” button on that job posting to complete and submit your application. Your application will be reviewed by a recruiter, which, due to the volume of applications received, may take some time as we carefully consider each application.
Screen
After your application has been reviewed, if you meet the qualifications for the role, a recruiter will reach out to you to start a conversation.
Interview
If you are invited for an interview, you will be scheduled to meet with the hiring manager and hiring team.
Offer
If you are extended an offer to join MassMutual and accept, your start will be contingent upon a satisfactory background check.
Hire
If you accept the offer, we will be so excited to welcome you to the MassMutual community!
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
By the numbers*
- 88% of employee respondents say they are proud to work at MassMutual
-
90
% of employee respondents say they feel encouraged to bring forth new ideas - 86% of employee respondents say MassMutual cares about and supports the well-being of their employees
*Source: 2024 MassMutual employee engagement survey
Award-Winning Culture
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 and participating policyowners, we are defined by mutuality and our vision to provide financial well-being for all Americans. 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.
We strive to embrace diversity in every sense, focusing on building a thriving community where everyone is valued, included, and feels that they belong.
At MassMutual, we Live Mutual.
How We Work
MassMutual’s flexible workplace approach combines the importance of connecting in person and the flexibility of working remotely. Our hybrid model puts collaboration first with employees coming in at least three days per week to our spectacular campus settings and also enjoying the flexibility of remote Fridays, company-wide remote weeks, and a bank of flexible remote weeks to use throughout the year.
Benefits for the whole you (and your loved ones)
There’s more to your life than your job and there’s more to your aspirations than a paycheck. We take a holistic view of compensation and benefits that provides the flexibility to create a healthy balance in your life for work, family, and community. We offer the benefits you’d expect, like medical, dental, 401(k), and generous vacation time, but we also offer ones you might not expect, like three paid days for volunteering, a $1,250 annual Well-Being Wallet, and up to 320 hours of caregiver leave.
Explore some of our offerings below. Benefit details can be found here.
Why MassMutual?
Kevin
Compliance Consultant
Seth
Service Management Consultant
Kymberly
Head of Experience Journey Mapping
where we work
Springfield Office
1295 State Street, Springfield, MA
Boston Office
10 Fan Pier Blvd, Boston, MA
New York Office
2 Park Ave,
New York, NY
Virtual
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