Investment Actuary

GIA and VA Asset Modeling and Development Team

Full-time

Springfield, MA, Boston, MA or New York, NY

The Opportunity

We are seeking a talented Investment Actuarial Consultant with asset knowledge to join Quant R&D’s “GIA and VA Asset Modeling and Development” team. In this role, you will primarily focus on providing research, model development, reporting, analytics, and operations support for MassMutual’s hedging programs. As an accredited actuary with a quantitative background in asset modelling, you will leverage both your asset and liability modelling expertise to generate and analyze pricing dynamics between the annuity product and derivatives that offset their risks. You will work closely with Portfolio Managers and other stakeholders in the “Quantitative Portfolio Management” to ensure the hedging program’s operational continuity. In addition, Investment Management’s inclusive culture and flat collaborative environment will provide you with numerous opportunities to learn, develop, and apply new skills within a continuously evolving business and market environment.

The Team

MassMutual’s Investment Management (IM) department oversees and manages over $200 billion dollars in assets across its General Investment Account (“GIA”). It has primary responsibilities for conducting ALM on the GIA, growing and managing the investment portfolio, overseeing the performance of both affiliated and unaffiliated managers for the GIA, and directly selecting certain opportunistic and strategic investments.

The Quant R&D group of IM consists of a group of collaborative teams with interconnected responsibilities. The group’s core focus is on generating ALM analytics, asset modelling, developing advanced analytics, researching interest and credit rate specific strategies, adopting emerging technologies, and providing and ensuring operations continuity for the Quantitative and Fixed Income Portfolio Management groups within IM.

The “GIA and VA Asset Modeling & Development” team of Quant R&D has primary responsibilities for modeling all of the GIA’s assets, ensuring and maintaining critical Portfolio Management dependent operations for the GIA and Variable Annuity programs, and generating ALM pricing and risk analytics for all of Quantitative Portfolio Management’s hedging programs. In addition, the team receives and coordinates general and regulatory requests to various stakeholders across Enterprise Risk Management, Corporate Finance, Actuarial, and other internal and external parties.

The coordinated and combined efforts of the team, group, and department ensures our success in continually striving to add value for MassMutual and its policyholders.

The Impact

The Investment Actuarial Consultant will have accountability for performing the following:

• Researching and developing asset and liability pricing, valuation, and risk modeling
• Collaborating with the GIA and VA Asset Modeling & Development team and Portfolio Managers for the life and annuities hedging programs to develop, implement, and manage asset-liability strategies that align with the company’s goals and risk tolerance.
• Leveraging quantitative and actuarial models to analyze and predict future financial outcomes and potential risks.
• Evaluating the financial impact of various scenarios on the company’s portfolio using quantitative methods, actuarial techniques, and advanced analytics.
• Monitoring and analyzing market trends and economic factors that may affect the company’s investment strategy and risk profile.
• Providing technical expertise in the development and implementation of sophisticated asset models.
• Delivering regular reports and presentations on hedging strategy outcomes, risk management, and asset-liability positions to the Portfolio Managers.
• Staying up to date on regulatory changes that may impact the program’s operation.
  
  

The Minimum Qualifications

• 4 years of experience in a quantitative actuarial role, preferably in asset-liability management
• 4 years of experience working with actuarial concepts, fixed-income asset modelling, and financial risk management and/or life insurance products
• 2 years of experience developing and implementing complex financial models
• 2 years experience programming in Python.
• Bachelor's or Master’s degree in Actuarial Science, Mathematics, Economics, Finance, Statistics, or a related field.
• FSA or Near FSA(Fellow of the Societies of Actuaries)
  
  

The Ideal Qualifications

• Strong ability to work independently, make recommendations, and collaborate effectively with others
• Excellent quantitative, analytical, and problem-solving skills.
• Familiarity and expertise on finance/investments with basic accounting knowledge
• Strong communication skills with the ability to effectively articulate complex financial concepts to non-technical audiences
• Exceptional interpersonal skills and willingness to work closely with portfolio managers and senior management
• Willingness to continually develop new technology skills and learn about emerging regulatory requirements
• CFA
  
  

What to Expect as Part of MassMutual and the Team

• Routine meetings with senior and executive leadership
• Regular one-on-one meetings with your manager
• Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
• Access to learning platforms and emerging technologies
  
  

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.