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Come Grow With Us

Investment Actuary

Boston, Massachusetts; Springfield, Massachusetts; New York, New York

Job ID: R15905

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

Investment Actuary

GIA and VA Asset Modeling and Development Team

Full-time

Springfield, MA, Boston, MA or New York, NY

The Opportunity

We are seeking a talented Investment Actuarial Consultant with asset knowledge to join Quant R&D’s “GIA and VA Asset Modeling and Development” team. In this role, you will primarily focus on providing research, model development, reporting, analytics, and operations support for MassMutual’s hedging programs. As an accredited actuary with a quantitative background in asset modelling, you will leverage both your asset and liability modelling expertise to generate and analyze pricing dynamics between the annuity product and derivatives that offset their risks. You will work closely with Portfolio Managers and other stakeholders in the “Quantitative Portfolio Management” to ensure the hedging program’s operational continuity. In addition, Investment Management’s inclusive culture and flat collaborative environment will provide you with numerous opportunities to learn, develop, and apply new skills within a continuously evolving business and market environment.

The Team

MassMutual’s Investment Management (IM) department oversees and manages over $200 billion dollars in assets across its General Investment Account (“GIA”). It has primary responsibilities for conducting ALM on the GIA, growing and managing the investment portfolio, overseeing the performance of both affiliated and unaffiliated managers for the GIA, and directly selecting certain opportunistic and strategic investments.

The Quant R&D group of IM consists of a group of collaborative teams with interconnected responsibilities. The group’s core focus is on generating ALM analytics, asset modelling, developing advanced analytics, researching interest and credit rate specific strategies, adopting emerging technologies, and providing and ensuring operations continuity for the Quantitative and Fixed Income Portfolio Management groups within IM.

The “GIA and VA Asset Modeling & Development” team of Quant R&D has primary responsibilities for modeling all of the GIA’s assets, ensuring and maintaining critical Portfolio Management dependent operations for the GIA and Variable Annuity programs, and generating ALM pricing and risk analytics for all of Quantitative Portfolio Management’s hedging programs. In addition, the team receives and coordinates general and regulatory requests to various stakeholders across Enterprise Risk Management, Corporate Finance, Actuarial, and other internal and external parties.

The coordinated and combined efforts of the team, group, and department ensures our success in continually striving to add value for MassMutual and its policyholders.

The Impact

The Investment Actuarial Consultant will have accountability for performing the following:

  • Researching and developing asset and liability pricing, valuation, and risk modeling
  • Collaborating with the GIA and VA Asset Modeling & Development team and Portfolio Managers for the life and annuities hedging programs to develop, implement, and manage asset-liability strategies that align with the company’s goals and risk tolerance.
  • Leveraging quantitative and actuarial models to analyze and predict future financial outcomes and potential risks.
  • Evaluating the financial impact of various scenarios on the company’s portfolio using quantitative methods, actuarial techniques, and advanced analytics.
  • Monitoring and analyzing market trends and economic factors that may affect the company’s investment strategy and risk profile.
  • Providing technical expertise in the development and implementation of sophisticated asset models.
  • Delivering regular reports and presentations on hedging strategy outcomes, risk management, and asset-liability positions to the Portfolio Managers.
  • Staying up to date on regulatory changes that may impact the program’s operation.

The Minimum Qualifications

  • 5+ years of experience in a quantitative actuarial role, preferably in asset-liability management
  • 5+ years of experience working with actuarial concepts, fixed-income asset modelling, and financial risk management and/or life insurance products
  • 2+ years of experience developing and implementing complex financial models
  • 2+ years experience programming in Python.
  • Bachelor's or Master’s degree in Actuarial Science, Mathematics, Economics, Finance, Statistics, or a related field.
  • FSA (Fellow of the Societies of Actuaries)

The Ideal Qualifications

  • Strong ability to work independently, make recommendations, and collaborate effectively with others
  • Excellent quantitative, analytical, and problem-solving skills.
  • Familiarity and expertise on finance/investments with basic accounting knowledge
  • Strong communication skills with the ability to effectively articulate complex financial concepts to non-technical audiences
  • Exceptional interpersonal skills and willingness to work closely with portfolio managers and senior management
  • Willingness to continually develop new technology skills and learn about emerging regulatory requirements
  • CFA

What to Expect as Part of MassMutual and the Team

  • Routine meetings with senior and executive leadership
  • Regular one-on-one meetings with your manager
  • Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
  • Access to learning platforms and emerging technologies

#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.
EEO Statement(Opens in new window)

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

    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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