Overview
MassMutual is hiring an Actuary for the Life Valuation Modeling team within Corporate Actuarial. This full-time role supports valuation modeling, regulatory compliance, and business analytics to ensure MassMutual can meet its future obligations. Location: Boston, MA or Springfield, MA or New York, NY.
The Team
The Valuation Modeling Team protects the long-term interests of policyholders by ensuring MassMutual is positioned to meet its future obligations. Responsible for over $100 billion in direct statutory reserves, the team performs statutory, GAAP/LDTI and tax valuation on Par Whole Life, Term, UL and VUL products. Our work affects regulatory compliance, strategic decision-making and inforce management. For those interested in modeling, interpreting, and communicating financial results in a collaborative team environment, this is an exciting role.
Responsibilities
- Apply deep modeling expertise to all phases of input, processing, and output of valuation projections in Axis
- Deliver and explain Stat, Tax and GAAP financial results
- Utilize modeling acumen to execute complex projects such as Cash Flow Testing, new product implementations, assumption changes, and structural model updates
- Develop and improve existing control and versioning methodology in valuation models
- Improve efficiency by leveraging communication with internal and external technology partners
- Apply knowledge of life insurance products and regulations to navigate complexity, ambiguity, and limitations in valuation software
- Work directly with various audit stakeholders to demonstrate compliance with regulatory and model governance standards
- Demonstrate agility in responding to stakeholder questions and unexpected results, often at times of peak activity and tight deadlines
Minimum Qualifications
- Bachelor’s Degree
- ASA with 5+ years of actuarial experience
- 2+ years of experience with Axis
Ideal Qualifications
- FSA
- 4+ years of experience with Axis, including model leadership or stewardship roles
- Proficient with Axis features such as DataLink, investment cells, scenario files, and embedded block processing
- Understanding of modeling infrastructure such as ELink, GridLink, and output databases
- Expertise with identifying multiple solutions to a problem, and developing collaborative solutions to software limitations
- Ability to estimate resource requirements and set expectations with key stakeholders for highly visible projects
- Experience with Principle-Based Reserves, valuation regulations, product design, modeling assumptions, and inforce policy data
- Proficient with model-supported software such as MS Excel and SQL
- Strong math, analytical and collaboration skills
- Demonstrated accountability and ownership of long-term independent projects
- Strong communication skills, both written and verbal
- Continuous improvement mindset
- Ability to build and maintain strong working relationships across cross-functional groups
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Life Valuation Team
- Focused one-on-one meetings with your manager
- Networking opportunities including access to Business Resource Groups
- Access to learning content on Degreed and other informational platforms
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. It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment.
Salary Range: $141,300.00-$185,400.00
Job Details
- Seniority level: Mid-Senior level
- Employment type: Full-time
- Job function: Finance and Sales