Mutual Opportunities
Product Management and Pricing Actuary
Springfield, Massachusetts; Boston, Massachusetts
Thank you to our employees for voting us one of the top places to work in Massachusetts for seven consecutive years!
Overview
At MassMutual, actuaries play a key role in the company’s strategic decision-making. They support our expanding client base by developing innovative products, identifying new market opportunities, and driving initiatives that fuel business growth.
Our actuarial team draws intellectually curious individuals who want to work somewhere where they’re empowered to make change. At MassMutual you’ll find challenging and impactful work, a culture of recognition, and a supportive growth environment.
“At MassMutual, our actuarial community is driven by a shared commitment to excellence, innovation, and impact. We empower our actuaries to grow through meaningful work, collaborative teams, and a culture that values both technical rigor and human connection. Whether you're just starting out or advancing your career, you'll find opportunities here to shape the future of financial security while building a career that matters.”
Job Description
The Opportunity
We are seeking a highly engaged Pricing Actuary to join a dynamic team environment for Life Pricing & Profitability. This individual will be organized, detail-oriented and excited to take accountability and ownership for their work.
As a member of the Life Insurance Pricing and Profitability team, you will partner with the Underwriting and Medical teams to evaluate new and existing underwriting programs. You will also monitor key profitability and business metrics and pricing assumptions, taking a holistic approach to assessing emerging experience across the life insurance portfolio. This role offers the opportunity to influence a product line that is critical to the company’s success.
The Team
The Life Pricing team is responsible for the pricing and profitability of MassMutual’s retail life insurance products. The team is comprised of a group of actuaries and quantitative analysts with extensive experience in life insurance pricing, product development, and modeling. The team is focused on meeting the needs of three key stakeholders – our policyholders, our distribution partners, and our company.
The Impact:
Underwriting Functions
- Represent Pricing and Product Management in the oversight and analysis of the accelerated underwriting program. Partner with internal stakeholders to develop analytics, communicate results, and influence future program enhancements.
- Monitor the MassExpress fluidless underwriting program, including mortality slippage, pass rates, and other key performance indicators, and partner with Underwriting on regular program oversight.
- Partner with New Business, Underwriting and Medical teams to assist in developing and assessing the protective value of key underwriting programs.
- Analyze underwriting performance and other portfolio-level risk indicators to identify emerging trends and support profitability objectives and risk management decisions.
Profitability and Emerging Experience Analytics
- Evaluate large and complex life insurance cases for alignment with profitability guidelines and the company’s risk appetite and provide analysis to support placement and capacity decisions.
- Perform analyses using VNB, IRR, profit margin, and other profitability metrics to support underwriting and business decisions.
- Perform sensitivity testing and scenario analysis to assess the impact of key assumptions, emerging risks, and business trends on profitability.
- Develop Power BI dashboards, presentations, and recurring reports that communicate profitability, new business performance, rider utilization, and emerging experience to facilitate management reporting.
- Analyze rider utilization and profitability to identify emerging trends, risks, and opportunities.
- Support the development, aggregation, validation, and communication of quarterly VNB reporting.
- Monitor, analyze and report on key business KPIs, providing insights to support strategic decision-making.
Product Design and Pricing
- Support life insurance product pricing by helping to develop assumptions for new products and maintaining clear documentation of final pricing decisions and assumptions.
- Provide ad hoc actuarial analysis and support for pricing, profitability, and product initiatives.
The Minimum Qualifications
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field
- ASA designation
- 5+ years of actuarial experience in pricing, experience studies or related actuarial functions.
- 1+ years of experience working with life insurance products
- 2+ years of experience actuarial models
The Ideal Qualifications
- FSA Designation
- Experience with accelerated underwriting programs a plus
- Experience with using Power BI, experience studies and data management a plus
- 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, and the 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
What You Can Expect at MassMutual
MassMutual offers the opportunity to do meaningful work within a purpose-driven organization that values long-term impact over short-term outcomes. In this role, you can expect:
- Clear areas of ownership and accountability, with work that connects directly to company and customer outcomes
- A collaborative environment where perspectives are welcomed
- Access to learning, development, and internal networks that support continuous growth and skill-building over time
- Employee-led communities and forums that foster connection, learning, and inclusion across the organization
- A culture grounded in integrity, responsibility, and stewardship—supported by a company with a strong legacy and a future-focused mindset
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
California residents: For detailed information about your rights under the California Consumer Privacy Act (CCPA), please visit our California Consumer Privacy Act Disclosures page.
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: $144,800-$190,000
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*
- 85% of employee respondents say they are proud to work at MassMutual
-
90
% of employee respondents say the work they do at MassMutual is meaningful - 85% of employee respondents say they feel encouraged to come up with new and better ways of doing things
*Source: 2025 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 build 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?
Candy
Marketing Consultant
Atsam
Head of Advisor/Client Experience & Business Excellence
Erica
Head of Procurement
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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