Mutual Opportunities
Head of Liability ALM Strategy
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
At MassMutual, actuaries play a key role in the company’s strategic decision-making. They support our expanding client base by developing innovative products, identifying new market opportunities, and driving initiatives that fuel business growth.
Our actuarial team draws intellectually curious individuals who want to work somewhere where they’re empowered to make change. At MassMutual you’ll find challenging and impactful work, a culture of recognition, and a supportive growth environment.
“At MassMutual, our actuarial community is driven by a shared commitment to excellence, innovation, and impact. We empower our actuaries to grow through meaningful work, collaborative teams, and a culture that values both technical rigor and human connection. Whether you're just starting out or advancing your career, you'll find opportunities here to shape the future of financial security while building a career that matters.”
Job Description
POSITION SUMMARY
MassMutual is seeking an enthusiastic, well-rounded and motivated leader as Head of Liability ALM Strategy, a key leader in the company’s Asset Liability Management (ALM) framework. This role will report directly to the Chief Actuary and will be a key member of the Corporate Actuarial Leadership Team. In concert with Investment Management (IM) and Enterprise Risk Management (ERM), this leader will be accountable for the ALM strategy and execution for all of MassMutual’s insurance products, with particular focus on liability risks, and will successfully partner with stakeholders to develop a clear vision and strategic plan driving ALM methodologies, reporting, and analytics in support of ALM processes and decisions. The leader will serve as model owner of the actuarial systems and tools utilized to provide liability projections and insights in support of ALM production deliverables and future enhancements to enterprise ALM strategies. This leader will be responsible for the recruitment, development and effective management of a team of talented actuarial and quantitative professionals.
This role will require strong leadership skills combined with superior modeling and analytical skills to: (1) collaborate on an integrated vision & strategy, processes and tools that connect complex actuarial/liabilities, investment, and market risk concepts, (2) deliver on liability modeling capabilities and ALM solutions in collaboration with IM and ERM in a timely manner within a high quality and well-controlled environment, and (3) present and communicate progress on results, issues, and solutions with clarity and credibility to various stakeholders and senior management. This includes regularly presenting and reporting to the Investment Oversight Committee (IOC) and related subcommittees. In addition, this leader will be able to drive complex projects to completion and provide/implement industry thought leadership and best practices.
The Head of Liability ALM Strategy will need to demonstrate deep actuarial and financial knowledge across MassMutual’s portfolio of insurance products and is an expert in the modeling of liabilities, including how they relate with assets and capital risk in an insurance company context. This leader will possess excellent technical skills and actuarial modeling expertise necessary to direct the development and governance of complex ALM models and the associated data and infrastructure that span different product lines and frameworks (e.g., economic/statutory/GAAP and new business/inforce, pricing, valuation/cash flow testing or CFT, etc.). This role will also need to possess a deep understanding and partnership with reinsurance. The leader will partner with Investment Management to ensure the successful alignment of the duration, risk profile and cash flow characteristics of liabilities and assets, which is vital for mitigating balance sheet risks and ensuring financial stability.
In addition to outstanding analytical and problem-solving skills, the successful candidate will exhibit strong leadership, relationship management, and communication skills to be fully successful in this role. This leader is expected to:
- Communicate effectively with the IOC and leaders in CFO, IM, ERM and business partners, including the translation of technical topics to different audiences and providing clarity of the business impact and insights to inform decisions
- Innovate and implement practical solutions in the development of complex liability models used in ALM/CFT across MassMutual’s broad range of insurance products, including data issues/limitations
- Lead/facilitate discussions in cross-functional work groups (e.g., VA Oversight Committee, VA Risk Committee, Asset Liability Work Group, etc.) on ALM issues and topics; Influence via thought leadership, drive alignment and implement best practices/processes
- Collaborate across teams to ensure alignment of goals, effective execution of deliverables, and monitoring progress
- Navigate issues that arise and/or competing priorities; Effectively, negotiate the right solutions and positive outcomes across stakeholders
- Liaise with internal corporate and business departments and support a culture of service or proactive solutions and team support
- Establish strong credibility and executive presence with leadership to effectively drive ideas forward, impact management decision-making, and influence strategies
- Contribute to Corporate Actuarial thought leadership and positive team culture
OVERALL RESPONSIBILITY
The Head of Liability ALM Strategy will be accountable for these specific deliverables and responsibilities:
- In collaboration with IM and ERM, evaluate the on-going fit and adequacy of existing ALM strategies as the environment changes and make strategy, budget and other related recommendations, as applicable, while taking into account costs, risks and benefits of alternatives
- In collaboration with IM and ERM, evaluate existing ALM modeling and applicable metrics & measures to improve existing processes and/or make suggested changes
- Critically and logically build financial and/or non-financial analytical models that drive fact-based decision-making to support ALM decisions made by the leadership team
- Participate as member of the Capital Market Assumptions Group accountable for the review, update, management and monitoring processes and policies for recommending asset assumptions used in valuation, pricing and financial projections
- Provide thought leadership, technical expertise, and value-added support & guidance related to ALM
- Support enforcement of corporate guidelines and governance processes with respect to asset assumptions including sufficiency of documentation to meet CFT/VM-30, PBR/VM-31, VM-G, applicable SOPs and any other regulatory requirements
- Closely collaborate with the Product Pricing Oversight and Reinsurance Strategy & Management teams to ensure adequacy and appropriateness of investment assumptions and ALM strategies recommended as part of pricing exercises/financial reinsurance transactions
- Stay abreast of emerging regulations as they impact applicable aspects of ALM, hedging, economic assumptions and related actuarial work
- Team leadership, clear communication and solid partnership with the business and other departments
- In concert with IM and ERM, implement effective model governance, standards, testing procedures, and controls in the development, manufacturing, and delivery of ALM related models and projections
- Leverage expertise and industry insights in providing recommendations and driving decisions and actions to ensure delivery of leading-edge solutions
- Have a proven track record for attracting, developing, and retaining strong talent
CANDIDATE QUALIFICATIONS
- Bachelor's Degree or higher
- Fellow of the Society of Actuaries (FSA); CFA is a plus
- Minimum of 15 years of actuarial experience in ALM, hedging, capital management, actuarial/asset modeling, pricing, valuation/CFT, and/or in financial risk management
- Strong knowledge of US life insurance, annuity, and health products and the underlying actuarial and risk management concepts and practices; experience with quantifying, analyzing and managing a range of product risks
- Working knowledge and analysis of financial statements (Income Statements, Balance Sheet, Cash Flow Analysis) under different accounting frameworks
- Expertise in actuarial & financial modeling methodologies and techniques; Experience with actuarial projections software (Moody's AXIS, Prophet, etc.)
- 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
- Strong communication skills, both written and verbal, with experience in presenting to senior management; Able to convey complex materials to senior executives
- Ability to build and maintain strong working relationships across cross-functional groups
- Demonstrable experience with creative problem-solving and thought leadership
- Ability to work well under pressure and manage multiple deliverables
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. The job description includes the main duties of this position, which may evolve over time. You may be required to perform other duties not listed.
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment.
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*
- 85% of employee respondents say they are proud to work at MassMutual
-
90
% of employee respondents say the work they do at MassMutual is meaningful - 85% of employee respondents say they feel encouraged to come up with new and better ways of doing things
*Source: 2025 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 build 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?
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Compliance Consultant
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Service Management Consultant
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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
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