Model Validations Actuary
Boston, Massachusetts; Springfield, Massachusetts; New York, New York
![](https://tbcdn.talentbrew.com/company/724/gst-v1_0/img/illustrations/ajd-overview-graphic-general.png)
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](https://tbcdn.talentbrew.com/company/724/gst-v1_0/img/profiles/roger-crandall-profile.webp)
“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
Model Validations Actuary
Model Validations Team, Insurance, Product & Model Risk
Full Time
Springfield, MA, Boston, MA or New York, NY
The Team
The Model Validations team is comprised of seasoned professionals with expertise in actuarial, financial, risk, investment and capital markets models, who are also building knowledge in emerging areas of importance, such as data science, machine learning and artificial intelligence. The team conducts independent validations on a wide variety of models to ensure the company’s models are conceptually sound and performing as expected
The Opportunity
You will utilize your actuarial, industry and modeling expertise to conduct best-practice model validation activities, helping protect the company’s reputation and financial stability through robust management of risks associated with the use of these models.
This is a great position for someone with a passion for complexity of modeling, continuous improvement, and curious and open to different points of view.
The Impact
Specific expectations from this role:
- Plan and deliver model validations in accordance with corporate model governance policy requirements and timelines leveraging deep modeling, actuarial and regulatory expertise
- As a risk advisor, participate in the design, development and implementation of new models
- Assess model design, theoretical construction, methodology, applicability, and resilience within evolving economic and risk environments, in accordance with actuarial and regulatory standards
- Validate accuracy of model calculations, algorithms, and any embedded automation / programming code base by designing and implementing tests to ensure model performance and model output are as expected
- Build relationships, influence, collaborate and learn various aspects of our business from many modelers, data-scientists, and business leaders at MassMutual
- Prepare and distribute model validation documentation, which meets model governance requirements
- Test remediation of validation findings
- Continuously research and provide guidance on the use of new and innovative analytical techniques
The Minimum Qualifications
- Bachelor’s degree in Actuarial Science, Finance, Econometrics, Statistics, Mathematics, Physics, or another quantitative discipline
- Associate of Society of Actuaries (ASA)
- 5+ years of direct experience in the following:
- sophisticated actuarial and/or data-science models
- insurance products (life, DI, annuities, and/or LTC) and regulations
- statistical methods of analysis
- 5+ years of experience with Microsoft Excel, Access, and/or VBA
- 5 + years of experience with projection software (i.e. GGY AXIS, Prophet)
The Ideal Qualifications
- Fellow of Society of Actuaries (FSA) or Near FSA
- 7+ years of direct experience in the following:
- sophisticated actuarial and/or data-science models
- insurance products (life, DI, annuities, and/or LTC) and regulations
- statistical methods of analysis
- Knowledge of Artificial Intelligence and Machine Learning concepts as they relate to insurance risks
- Extensive ALM, product pricing or valuation knowledge
- Experience working with a combination of the following: actuarial principles, modeling, methods, workflows risks, and professional standards
- Knowledge of programming languages (e.g. R, Python, SQL, C++, APL)
- Strong math, analytical, critical thinking and problem-solving skills
- Ability to see the big picture with meticulous attention to detail
- Strong communication skills, both written and verbal
- Demonstrated accountability and ownership of self-development
- Ability to build and maintain strong working relationships within and across teams, while challenging in a constructive manner
- Strong execution and time management skills
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Model Validations Team
- Focused one-on-one meetings with your manager
- Access to mentorship opportunities
- Networking opportunities including the Actuarial Gathering, access to Asian, Hispanic/Latinx, African American, women, LGBTQIA+, 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.
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.
![A man and two women having a conversation while walking](https://tbcdn.talentbrew.com/company/724/gst-v1_0/img/ajd-culture-general.webp)
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.
![Woman leaning against a wall and posing](http://tbcdn.talentbrew.com/company/724/gst-v1_0/img/how-we-work-general.webp)
Where we work
![](https://tbcdn.talentbrew.com/company/724/gst-v1_0/img/illustrations/springfield-office-icon.png)
Springfield Office
1295 State Street,
Springfield, MA
![](https://tbcdn.talentbrew.com/company/724/gst-v1_0/img/illustrations/boston-office.png)
Boston Office
10 Fan Pier Blvd,
Boston, MA
![](https://tbcdn.talentbrew.com/company/724/gst-v1_0/img/illustrations/new-york-office.png)
New York Office
2 Park Ave,
New York, NY
![](https://tbcdn.talentbrew.com/company/724/gst-v1_0/img/illustrations/virtual-office.png)
Virtual
New Job Openings
-
Actuarial Consultant - Internal Audit Springfield, Massachusetts
-
Head of Stable Value Product, Pricing and Investment Analysis Boston, Massachusetts
-
Investment Actuary Springfield, Massachusetts
-
Health Valuation & Modeling Actuary Springfield, Massachusetts
-
Life Pricing Actuary Boston, Massachusetts
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.