Mutual Opportunities
ALM Actuary - Hybrid
Springfield, Massachusetts; Boston, Massachusetts
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
Annuity ALM & Hedging Team, Corporate Actuarial
Full-Time
Springfield, MA or Boston, MA (Hybrid)
The Opportunity
At MassMutual, we’re passionate about helping millions of people find financial freedom and this passion has driven our approach to developing highly interactive digital experiences for our customers. The Corporate Actuarial organization is focused on being a trusted business partner and go-to provider of actuarial and business analytics by influencing key business decisions with efficient use of data and technology, while providing our employees with exciting career experiences. To help us achieve our mission, we are hiring an actuary at the Mastery level (FSA or near-FSA) to join the Annuity ALM & Hedging team. The incumbent will own all components of ALM for retail income annuities and institutional business including the business relationships, monthly and quarterly production, aid in overall ALM strategy, and ad-hoc analysis. This business includes retail SPIA/DIA products, Pension Risk Transfer, and Funding Agreements. Additionally, the individual will assist in other cross-company and cross-team initiatives, and maintenance of ALM processes.
The Team
The Annuity ALM & Hedging Team within Corporate Actuarial is focused on supporting the organization’s ALM and hedging strategies from a liability perspective. We are seeking an individual that will help drive delivery of accurate information and analysis, in actionable and forward-thinking ways. The individual will report to the Director of Annuity ALM & Hedging. If you are someone that has a passion for tackling complex problems, continuous improvement, innovative practices, and a curiosity to pursue learning opportunities, this may be the right role for you.
The Impact:
- Demonstrates accountability in providing quantitative and qualitative support to Corporate Actuarial, Institutional Solutions, Annuity Product and Pricing, Enterprise Risk Management and Investment Management by leveraging knowledge of actuarial business functions and risks, and technical facility with computer tools.
- Develop, document, and maintain methodologies, assumptions, qualifications, and computer programs, using a variety of tools, to solve challenging actuarial analysis. Demonstrate ownership in learning and collaborating with others to meet customer needs.
- Deliver timely and accurate information to support the Company’s ALM recommendations.
- Research, develop, and implement complex solutions impacting business decisions. Communicate findings and influence decision makers.
- The individual will effect change and help with the redesign and modernization of ALM and hedging processes.
The Minimum Qualifications
- Bachelor’s DegreeActuarial Science, Mathematics, Economics, Finance Statistics or a related field
- ASA or FSA with 5+ years of experience including actuarial business functions and risks, investments, ALM, or hedging
- 2+ years of experience with Microsoft Excel and PowerPoint
- 1 + years of experience with Actuarial Software products
The Ideal Qualifications
- Fellow of the Society of Actuaries (FSA) or Chartered Financial Analyst (CFA)
- 7+ years of experience including actuarial business functions and risks, investments, ALM, or hedging
- Experience with programming languages such as Excel VBA, SQL, Python or Power Query/PowerBI
- Actuarial Software products such as Prophet or AXIS
- Prior experience working with annuity or institutional products
- Desire to learn and understand investment related concepts and how liabilities drive our overall investment strategy
- Navigates complex and ambiguous problems with agility and resiliency
- Strong analytical and creative problem-solving skills
- Ability to manage competing priorities
- Continuous improvement mindset
- Demonstrated strong written and oral communication skills
- Ability to partner with and effectively communicate and cross-collaborate with teams throughout the organization
What to Expect as Part of MassMutual and the Team
- Regular meetings with the ALM & Hedging team
- Build and maintain relationship with the Business
- 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
#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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