Life Pricing Actuary
Boston, Massachusetts; Springfield, Massachusetts
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
“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
Life Pricing Actuary
Life Insurance Pricing and Profitability Team
Full time
Springfield, MA or Boston, MA
The Opportunity
As an Actuary on the Life Insurance Pricing and Profitability team you will be responsible for supporting the pricing initiatives for new life insurance products and product enhancements within MMUS. This is an opportunity to have a significant impact on a product line critical to our company’s success.
The Team
The team is responsible for the pricing and profitability of MassMutual’s individual life insurance products. The team is comprised of a group of actuaries and quantitative consultants with extensive experience in life insurance pricing, product development, and modeling. The team is focused on meeting the needs of three key stakeholders – our end customers, our distribution partners, and our company.
The Impact:
Product Design and Pricing
- Participate in product development ideation
- Using actuarial principles and pricing models, lead the design and pricing of new life insurance products and/or enhancements to existing life products
- Develop and/or enhance pricing models to support product pricing and design
- Secure required pricing approvals from key stakeholders by balancing competitive benchmarks and acceptable levels of expected profit and risk
- Create and maintain pricing assumption and final pricing documentation
Product Filing Support
- Research state/federal regulations that govern life insurance and develop actuarial memorandums and demonstrations to support state and federal filings of life products
Product Implementation
- Develop actuarial calculation specifications and review requirements for implementation
- Assist with calculation testing and validation
- Adhoc Analysis
- Provide internal (home office) and external (agent) actuarial support as needed
The Minimum Qualifications
- 5+ years' relevant actuarial experience, including working with life insurance and/or annuity products
- FSA (or near FSA) designation required
- Bachelor’s degree in actuarial science, math, statistics, or related discipline
- 3+ years' experience with actuarial software and models
The Ideal Qualifications
- Life insurance pricing experience, along with exposure to coding/programming, are a plus
- Ability to interact with technical and non-technical audiences at all levels, within and across organizational boundaries
- Strong interpersonal and communication skills: ability to document complex issues, methodologies, and resolutions such that others can readily understand them
- Ability to use a disciplined work approach to initiatives, projects, and day-to-day activities
- Ability to work cross-functionally to reconcile competing priorities while meeting organizational objectives
- Sound business judgment in an environment of rapid change - ability to respond to changes in direction, tight deadlines, and high-pressure situations
- Comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to a problem
- Takes ownership and is results-orientated
- Candidates must be authorized to work in the United States without requiring visa sponsorship
#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
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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.
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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.
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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.
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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.
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Offer
If you are extended an offer to join MassMutual and accept, your start will be contingent upon a satisfactory background check.
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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.
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?
Compliance Consultant
Service Management Consultant
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.
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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Interested in pursuing a career as a financial professional? Learn how you can build your business and help people secure their future and protect the ones they love.