Top Actuarial Executive provides leadership, innovation, and oversight to an organization's actuarial function. Develops policies, procedures, and formulas to guide statistical analysis and actuarial research and accurately evaluate the likelihood and financial impact of various risks. Being a Top Actuarial Executive ensures policies and procedures are implemented effectively to ensure regulatory compliance of all financial operations and products. Responsible for the strategic planning and oversight of product development. Additionally, Top Actuarial Executive establishes profitability targets and regularly reviews product rates, premium levels, and rating systems to evaluate effectiveness and measure performance against targets. Reviews and validates financial statements, regulatory filings, and other financial projections before publishing or submitting. Communicates with marketing and other key stakeholders to present rating structures and systems and ensure adequate understanding of products. Applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Requires a bachelor's degree. May require Associate of Society of Actuaries (ASA). May require Fellow of Society of Actuaries (FSA). Typically reports to top management. The Top Actuarial Executive manages a departmental function within a broader corporate function. Develops major goals to support broad functional objectives. Approves policies developed within various sub-functions and departments. To be a Top Actuarial Executive typically requires 8+ years of managerial experience. Comprehensive knowledge of the overall departmental function. (Copyright 2024 Salary.com)
Actuarial Associate
Actuarial Leadership Development Program
Full-Time
Boston, MA or Springfield, MA
The Opportunity
MassMutual values Actuaries and their key leadership role in helping MassMutual achieve its strategic goals. The Actuarial Leadership Development Program (ALDP) provides you with all the benefits needed to not only successfully pass actuarial exams, but to prepare you for leadership roles throughout the organization. The rotational design of the program exposes students to a broad breadth of experiences as well as technical and industry knowledge. You will experience working in a diverse and established Fortune 100 Company while having fun and building relationships that will last a lifetime.
The Team
We have a current opening in the ALDP for an experienced Actuarial Associate to work on our Annuity Pricing and Profitability team. The team is responsible for the pricing and profitability of MassMutual’s annuity products. The team is tasked with developing and executing pricing strategy for new and inforce products, and monitoring profitability and taking strategic actions as necessary. The team accomplishes these responsibilities through frequent interaction with business partners such as corporate product oversight, ALM & hedging, and enterprise risk management areas.
The Impact
This role will offer the opportunity to understand and lead discussions on the financial drivers of the annuity product with business partners, develop actuarial modeling skills, and interact with non-actuaries in the Annuity Product organization. You should expect to become a subject matter expert on variable annuity and index-linked annuity pricing and risk management and will take ownership of the profitability analysis discussions, as well as the pricing model and assumptions used to support such analysis.
As a participant in the ALDP, you will experience the following:
The Minimum Qualifications
The Ideal Qualifications
What to Expect as Part of MassMutual and the Team
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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.Clear All
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