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Come Grow With Us

Head of Institutional Insurance, Institutional Solutions

Boston, Massachusetts; Springfield, Massachusetts

Job ID: R16129

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 help our customers secure their future and protect the ones they love. It also 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 makes MassMutual a strong, stable, and ethical business.

Our culture embodies the idea that we all are stronger and better through our support for one another. By valuing people for who they are, how they think, and what they bring to the table, we’ve become a better, more innovative company.

We invite you to explore the possibilities.

What our employees say

Roger Crandall
Roger CrandallCEO
“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

THE OPPORTUNITY

For over 30 years, MassMutual has demonstrated its commitment to the life insurance needs of institutions and employer groups with its institutionally priced life insurance solutions.  MassMutual has consistently developed and offered life insurance solutions designed to assist employers to attract and retain executive talent, to informally fund benefit plans such as SERPS and non-Qualified Deferred Compensation plans, and to serve as balance sheet assets featuring attractive yields over the long term. We are seeking a leader with demonstrated success growing the top and bottom lines, to continue developing and managing market-leading teams of wholesalers, while providing leadership to all pre-sales, new business and post-issue functions supporting MassMutual’s Corporate and Bank-Owned Life insurance business.

 The successful candidate will be responsible for championing and managing a book of business totaling over $34 billion of assets under management across over 3,800 client plans and for maintaining MassMutual’s market-leading position in the space.

The Head of Institutional Insurance will set and execute business strategy for these markets via leadership of sales and distribution, client services administration, in-force management, and identifying and promoting market competitive solutions within the company’s profit and risk parameters.

Reporting to the Head of Institutional Solutions, this role is part of MassMutual’s Institutional Solutions leadership team. Institutional Solutions is a highly visible and valued division within the company, contributing meaningfully to the company’s results.

The Team

The incumbent will manage a team of professionals across all functions of the business life cycle, from market development, establishing and maintaining distribution relationships, sales support of specialized distributors, new business processing, and post-issue client services and administration.

The Head of Institutional Insurance will excel at the matrix management and engagement of teams throughout the enterprise, including actuarial, technology, project management, digital and data science, law, claims, marketing, audit, and human resources.

The Impact:

  • Optimize sales and profitability as the company’s market-facing leader to external stakeholders and business partners, clients, and distribution relationships. Champion and set priorities for initiatives and projects within the company designed to deliver new solutions to the markets, enhance client and producer experiences, increase efficiency, within profitability and risk management parameters.
  • Lead a management team of experienced individual contributors and managers responsible for:
    •  New business and post-issue client services staff,
    • Wholesalers focused on the BOLI and/or COLI markets,
    • Technical quantitative consulting staff including actuarial talent, and
    • Investment subject matter experts and investment operations staff.
  • Serve as Registered Supervisory Principal of FINRA licensed/registered representative wholesaler staff responsible for sales of private placement and registered VUL products
  • Work with HR Compensation, develop and manage Variable Incentive Compensation (VIC) plans designed to effectively reward and incentivize BOLI/COLI wholesaler staff, compliant with parameters established by audit and compliance
  • Collaborate within Institutional Solutions and across the enterprise to set and execute upon business strategy, partner with functions across the business and enterprise to ensure alignment
  • Partner closely with actuarial product and pricing staff for development of new/updated products solutions meeting needs of the market and on the management of an in-force book of business comprised of product chassis including general account UL, Interest sensitive whole life, book value hybrid separate account, registered VUL, and private placement VUL with and without Stable Value features.
  • Develop and maintain strong relationships with key brokers, advisors and corporate and bank clients
  • Continuously optimize the company’s growth in the COLI and BOLI markets via a well-managed sales pipeline for identification and management of the population of new business opportunities, while staying abreast of market developments, needs, and identification of potential gaps in our solution set
  • Keen focus on the customer, ensuring availability of solutions that meet a wide variety of client needs within desired target markets
  • Maintain an active and visible presence in the market and BOLI and COLI industry. Act as a thought leader and partner, manage annual sponsorship opportunities and related budgets
  • Ensure the achievement of profitability and sales targets, while growing the business in a risk-controlled manner commensurate to the market and the company’s parameters
  • Produce results that maximize profitability, risk-return, quality/accuracy and operating efficiency
  • Ensure the effective support and high performance of in-force and new business management
  • Manage operations to ensure service delivery is high quality, accurate, timely and compliant
  • Deliver a customer experience that fully meets expectations and creates value
  • Utilize competitive intelligence to enhance profitability, packaging and positioning
  • Implement tools to communicate key business metrics and outcomes, and ensure necessary actions
  • Lead, motivate and develop a team of diverse professionals to achieve business objectives, develop succession pipelines and create a highly effective and inclusive team culture

Qualifications

  • An accomplished professional with a proven track record of strategic and tactical leadership in driving superior results spanning sales and profitability
  • 15+ years in institutional financial services, with direct leadership experience in COLI and BOLI markets
  • A minimum of a   4 year degree with a preference for an advanced business degree and/or professional qualifications
  • Must be FINRA licensed including Series 6 or 7 and 24 or 26

  • Customer and results-focused, with expertise in relationship management, distribution, and sales functions
  • Demonstrates initiative and sense of urgency; takes ownership and is results-orientated
  • Ability to effectively manage and deliver on multiple concurrent deliverables
  • Comfortable dealing with both complexity and ambiguity, with ability to explore multiple solutions
  • Strong analytical, critical thinking and problem-solving skills, high degree of financial acumen
  • Knowledgeable in relevant products and services, investments, applicable state and federal laws and regulations, industry standards and the competitive environment
  • Disciplined approach to strategic initiatives, business projects and day-to-day activities
  • Experience leading business and strategic initiatives in a highly matrixed, collaborative organization
  • Proven ability to develop, lead and manage a diverse teams of professionals, both within own team and across organizational boundaries
  • Ability to analyze and comprehend complex information, as well as convey complex materials to senior executives
  • Excellent interpersonal and communication skills (written, verbal, presentation)

#LI-IZ1

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.
EEO Statement(Opens in new window)

MassMutual will accept applications on an ongoing basis until such time as a candidate has been offered employment.

Hiring Process

  • Explore

    To get started, 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 to receive information on jobs that may interest you and stay up-to-date with the latest MassMutual news.

  • Apply

    To apply for a specific position, please 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. Coordinating calendars for interview schedules can take time, so your patience and flexibility is appreciated.

  • 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!

Recruitment Fraud Awareness

Job recruiter fraud is a scam by impostors posing as recruiters or representatives of a company promoting fake job opportunities to job seekers.

MassMutual will never ask job candidates to pay any kind of fee, make cash or check advancements, cash checks or make an investment in any product or service or provide information such as credit card numbers or banking PIN numbers as part of our hiring process.

If you are contacted by anyone asking for information outlined above it is likely fraudulent. If you have any concerns about the veracity of a request, please contact us directly to verify its legitimacy.

If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.

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.

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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 $1250 annual wellness wallet, and up to 320 hours of caregiver leave.

Explore some of our offerings below. Full benefits details can be found here

  • In addition to generous vacation time, paid holidays, and flexible holidays, MassMutual offers 'take care' time to take care of yourself or someone you love—whether for physical illness or mental health.
  • Medical and dental insurance
  • Life, disability short-term and long-term insurance
  • Well-being wallet: $1,250 per year for a wide range of qualifying wellness expenses
  • Well-being support: Mindfulness, nutrition, fitness
  • Personalized mental health solutions
  • Adoption and surrogacy reimbursement programs
  • Competitive salary and bonuses
  • 401(k): Up to 10% total benefit, consisting of a 5% company match and a 5% annual contribution
  • Educational assistance program
  • Childcare support
  • Financial counseling
  • Caregiver Leave (up to 320 hours)
  • Maternity Leave (a total of 18 weeks, 10 maternity + 8 parental)
  • Parental Leave (8 weeks for all parents, birth or adoption, continuous or intermittent)
  • Bereavement Leave: Up to 15 days to mourn the loss of a loved one, and you define 'loved one'
  • Matching Gift: 100% match on employees’ charitable contributions to non-profits up to $5,000
  • Volunteering: Three paid days for employees to volunteer with eligible nonprofits of their choice
  • Matching time: MassMutual Foundation awards dollars to organizations for which employees volunteer
  • Qualified Commuter Program through which eligible employees can pay qualified workplace commuting expenses with before-tax dollars
  • Commuter wallet option for employees based at Boston and NYC campuses

Why MassMutual?

Kevin
Compliance Consultant
Seth
Service Management Consultant
Kymberly
Head of Experience Journey Mapping

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.

   

  

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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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