Mutual Opportunities
LTC Actuary
Boston, Massachusetts; Springfield, Massachusetts; New York, New York
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
LTC Actuary
Full-Time
Boston, MA or Springfield, MA or New York, NY
The Opportunity
We are hiring a mastery level actuarial position for our long term care product line. Responsibilities include inforce product management for both stand-alone and hybrid long term care insurance products. This position involves collaborating across a wide variety of functions including legal, compliance, underwriting, claims, operations, enterprise risk management and IT.
The Impact
- Support annual rate certifications, dividend analysis, illustration regulation testing, and inforce rate increases.
- Extract relevant insights from data and/or models and present complex analysis in simple and straightforward manner to key stakeholders
- Apply actuarial pricing and management models, building or enhancing them as necessary, to support product pricing analysis and design
- Identify risks inherent in new and current product design and develop strategies and processes to manage and mitigate such risks
- Analyze experience studies and develop assumptions for new and inforce products
- Perform sensitivity testing on key assumptions to help quantify risks and mitigations
- Work with implementation teams on all product initiatives
- Form opinions, make recommendations, and drive decisions and execution
- Comply with Actuarial Standards of Practice, Code of Professional Conduct and company standards
- Support continuous improvement through:
- Keeping innovation in the forefront
- Improving processes and practices
- Providing fresh perspectives, breakthrough ideas, and new paradigms to create value
- Advocating for change, improvement, and optimal value added across the organization
- Asking questions and challenging the status quo
- Taking ownership and personal responsibility
- Support other team initiatives as needed
Minimum Qualifications
- Bachelor’s degree in actuarial science, math, statistics, or related discipline
- Associate of the Society of Actuaries
- 5+ years experience in actuarial roles
- 1+ year of experience with actuarial software and modeling, demonstrating the ability to build, validate, enhance, and maintain actuarial models
- 1+ years of experience with one of the following; long term care, disability income, chronic illness, accident or hybrid products.
Ideal Qualifications
- FSA and MAAA designations
- Experience with state product filing, rate filings, and objection responses
- Experience with AXIS, R, or Python
- Qualified to sign statements of actuarial opinion for long term care
- Strong interpersonal and communication skills, both written and verbal
- Demonstrated ability to interact with technical and non-technical audiences
- Demonstrated ability to deal with complexity and ambiguity, with ability to explore multiple solutions and champion the best alternative
What to Expect as Part of MassMutual and the Team
- Regular meetings with the LTC Inforce Management 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. 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.
Salary Range: $141,300.00-$185,400.00
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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