Mutual Opportunities
Actuary - Worksite Life Pricing & Product Management
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 - Worksite Life Pricing & Product Management
Health and Worksite Product Team
Full-Time
Springfield, MA or Boston, MA
The Opportunity
MassMutual Health and Worksite Product organization is looking for a career ASA or a new FSA to work on Worksite Life product pricing and product development. At MassMutual, we’re passionate about helping all Americans find financial security, and this passion drives us to continually improve our suite of products. As a Worksite Life Pricing and Product Management Actuary on the Health and Worksite Product team you will get a chance to develop, implement and manage market-leading life products and benefits in a fast paced, innovative, and collaborative environment.
The Team
The Health and Worksite Product team is focused on developing new and managing existing Participating Whole Life, UL and VUL products. We are responsible for ensuring that our new products are market leaders, while ensuring healthy margins by overseeing the dividends and non-guaranteed elements within the products. We are relied upon by the leadership to derive Worksite product strategy to profitably grow our business and for providing superior actuarial support to our Worksite business partners.
The Impact
The candidate will become a subject matter expert for our Worksite life insurance products. The individual will support or lead cross-functional initiatives to bring new products to the market. The candidate hired for this position will:
Learn about the Worksite market and the latest innovations in this space
Develop insight into the inner workings of the insurance carrier via collaboration with other areas such as IT, Underwriting, Operations, Marketing, Sales support, and others
Design, price, implement and manage Worksite UL, VUL and Participating Whole Life products to fuel the growth of our Worksite business
Identify risks inherent in new and current product design and develop strategies and processes to manage and mitigate such risks
Form opinions, make recommendations, and drive decisions and execution
Build and enhance Microsoft Excel and Moody’s Axis models to calculate pricing for new products or to calculate profitability and sensitivity analysis for our in-force block.
Work with the cross-functional product implementation teams to ensure accurate product build across the administration platforms
Provide actuarial and product expertise support to other teams across the Worksite departments, such as IT, Operations, Underwriting, and Sales
Build a deep understanding of Worksite business, generate insights from the data and present complex analysis in a simple and straightforward manner to key business partners.
Monitor the profitability of the products and support the critical product management processes of the annual dividend analysis, illustration regulation testing, NY210 and SIA reports
Comply with Actuarial Standards of Practice, Code of Professional Conduct and company standards
The Minimum Qualifications
Bachelor’s Degree in Mathematics, Finance or Computer/Data Science, Actuarial Science, or related field
Career ASA
5+ years of actuarial experience
The Ideal Qualifications
Fellow of the Society of Actuaries (FSA)
5+ years of actuarial experience with a focus on Life Insurance
Experience with Group Life Insurance
Experience with product pricing & product development
Proficiency with Microsoft Excel and Moody’s Axis
Proven ability to independently drive and lead cross-functional projects
Innovative, self-motivated, and independent with strong analytical, critical thinking, actuarial, and communication skills
Comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to problems and challenges
Continuous improvement mindset and willing to challenge the status quo
Ability to build and maintain strong working relationships across cross-functional groups
Ability to convey complex issues, explain methodologies, and influence resolutions in writing and orally to a variety of audiences
Effective time management, planning and organization skills
What to Expect as Part of MassMutual and the Team
Regular meetings with the Worksite Heath and Life product team, Corporate Oversight and ERM teams
Focused one-on-one meetings with your manager
A company committed to helping you advance your professional development goals
Twice yearly company-sponsored internal actuarial event to support networking and CPD
Access to mentorship opportunities and to learning content on Degreed and other informational platforms
Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, Veteran and disability-focused Business Resource Groups
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. We welcome all persons to apply.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 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?
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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