MassMutual
Actuary - Reinsurance
MassMutual
is seeking a well-rounded, motivated financial professional to join the Reinsurance Development team within the broader Corporate Actuarial team. In this function, this individual will cover all aspects of reinsurance across MassMutual and is expected to successfully partner with the various internal and external businesses and partners of the Organization. They will also take the lead on developing additional analytics to better understand our current and projected reinsurance performance. The Team
- Reinsurance Development operates as a small center of excellence for reinsurance across the company. The team includes a treaty consultant, a reinsurance actuary, a member of actuarial leadership development program (ALDP), and the reinsurance administration team. We manage all of MassMutual’s reinsurance relationships. The team leads and oversees all aspects of reinsurance including developing, negotiating, securing, and administering both traditional and financial reinsurance solutions to support the operational, risk and capital position of the Company. The team also develops and implements strategies to optimize the Company’s existing use of reinsurance while managing and overseeing reinsurance relationships across the organization. We thrive on identifying solutions and executing, but also on effectively managing all our agreements and ensuring appropriate controls and governance around all aspects of reinsurance. The Opportunity
- The role covers all aspects of reinsurance and requires partnering with internal and external businesses to support the Organization. The individual will lead analytics to understand current and projected reinsurance performance. The Role / Responsibilities Provide technical expertise as the modeling lead for the team to produce output for regular reporting and ad-hoc analysis. Help manage the use and direction of reinsurance across all lines of business for both inforce and new business, balancing historical and expected go-forward profitability, risk appetite and existing exposures, contractual reinsurance obligations/requirements. Develop an analytics framework on inforce reinsurance arrangements to assess performance and understand cash flows and economics with each reinsurer; regularly present to management and inform strategy decisions on inforce reinsurance arrangements. Collaborate with team members and coordinate with reinsurance administration, valuation and product pricing teams. Collaborate with Product, Pricing and Assumption Oversight and Valuation teams to ensure adequacy and appropriateness of assumptions and strategies in the reinsurance exercise. Ensure reinsurance solutions can be practically implemented with the Reinsurance Administration team and provide guidance to ensure compliance with terms of the agreements. Evaluate counterparty risk exposure with Enterprise Risk Management against established thresholds. Complete quarterly reporting and analytics for management to discuss reinsurance performance and oversee routine reporting done by ALDP member. Develop relationships with external reinsurance counterparts and manage RFPs and implementation of coverages, collaborating with Product to analyze proposals and provide recommendations to the Head of Product and Chief Actuary. Attend strategy meetings with senior leadership and external counterparts to ensure optimal use of reinsurance and reinsurer expertise across the organization; attend one reinsurance conference per year. Demonstrate strategic thinking, clear communication, leadership, and strong partnership with the business and other departments. The Minimum Qualifications Bachelor’s Degree Associate of the Society of Actuaries (ASA) 5+ years of professional financial experience in life, health, or annuity insurance The Ideal Qualifications Fellow of Society of Actuaries (FSA) or equivalent credential is a plus but not required 5+ years of experience, preferably in the U.S. insurance market Experience in reinsurance across life, health or annuity product lines and capital management 2+ years of experience with Moody’s AXIS Self-motivated with strong analytical, strategic & critical thinking; able to work with complexity, ambiguity, and multiple solution paths Effective time management, planning and organization skills Strong interpersonal and communication skills; ability to convey complex issues and influence resolutions in writing and orally Ability to respond rapidly to changes in direction, tight deadlines and high-pressure situations What to Expect as Part of MassMutual and the Team Regular meetings with the Reinsurance Development Team Focused one-on-one meetings with your manager, the reinsurance actuary Networking opportunities including access to diverse Employee Resource Groups Access to learning and development content on Degreed and other platforms Your ethics and integrity will be valued by a company with strong ethical business practices and competitive pay and benefits 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. Seniority level Mid-Senior level Employment type Full-time Job function Finance and Sales Referrals increase your chances of interviewing at MassMutual by 2x Get notified about new Actuary jobs in Boston, MA.
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MassMutual
is seeking a well-rounded, motivated financial professional to join the Reinsurance Development team within the broader Corporate Actuarial team. In this function, this individual will cover all aspects of reinsurance across MassMutual and is expected to successfully partner with the various internal and external businesses and partners of the Organization. They will also take the lead on developing additional analytics to better understand our current and projected reinsurance performance. The Team
- Reinsurance Development operates as a small center of excellence for reinsurance across the company. The team includes a treaty consultant, a reinsurance actuary, a member of actuarial leadership development program (ALDP), and the reinsurance administration team. We manage all of MassMutual’s reinsurance relationships. The team leads and oversees all aspects of reinsurance including developing, negotiating, securing, and administering both traditional and financial reinsurance solutions to support the operational, risk and capital position of the Company. The team also develops and implements strategies to optimize the Company’s existing use of reinsurance while managing and overseeing reinsurance relationships across the organization. We thrive on identifying solutions and executing, but also on effectively managing all our agreements and ensuring appropriate controls and governance around all aspects of reinsurance. The Opportunity
- The role covers all aspects of reinsurance and requires partnering with internal and external businesses to support the Organization. The individual will lead analytics to understand current and projected reinsurance performance. The Role / Responsibilities Provide technical expertise as the modeling lead for the team to produce output for regular reporting and ad-hoc analysis. Help manage the use and direction of reinsurance across all lines of business for both inforce and new business, balancing historical and expected go-forward profitability, risk appetite and existing exposures, contractual reinsurance obligations/requirements. Develop an analytics framework on inforce reinsurance arrangements to assess performance and understand cash flows and economics with each reinsurer; regularly present to management and inform strategy decisions on inforce reinsurance arrangements. Collaborate with team members and coordinate with reinsurance administration, valuation and product pricing teams. Collaborate with Product, Pricing and Assumption Oversight and Valuation teams to ensure adequacy and appropriateness of assumptions and strategies in the reinsurance exercise. Ensure reinsurance solutions can be practically implemented with the Reinsurance Administration team and provide guidance to ensure compliance with terms of the agreements. Evaluate counterparty risk exposure with Enterprise Risk Management against established thresholds. Complete quarterly reporting and analytics for management to discuss reinsurance performance and oversee routine reporting done by ALDP member. Develop relationships with external reinsurance counterparts and manage RFPs and implementation of coverages, collaborating with Product to analyze proposals and provide recommendations to the Head of Product and Chief Actuary. Attend strategy meetings with senior leadership and external counterparts to ensure optimal use of reinsurance and reinsurer expertise across the organization; attend one reinsurance conference per year. Demonstrate strategic thinking, clear communication, leadership, and strong partnership with the business and other departments. The Minimum Qualifications Bachelor’s Degree Associate of the Society of Actuaries (ASA) 5+ years of professional financial experience in life, health, or annuity insurance The Ideal Qualifications Fellow of Society of Actuaries (FSA) or equivalent credential is a plus but not required 5+ years of experience, preferably in the U.S. insurance market Experience in reinsurance across life, health or annuity product lines and capital management 2+ years of experience with Moody’s AXIS Self-motivated with strong analytical, strategic & critical thinking; able to work with complexity, ambiguity, and multiple solution paths Effective time management, planning and organization skills Strong interpersonal and communication skills; ability to convey complex issues and influence resolutions in writing and orally Ability to respond rapidly to changes in direction, tight deadlines and high-pressure situations What to Expect as Part of MassMutual and the Team Regular meetings with the Reinsurance Development Team Focused one-on-one meetings with your manager, the reinsurance actuary Networking opportunities including access to diverse Employee Resource Groups Access to learning and development content on Degreed and other platforms Your ethics and integrity will be valued by a company with strong ethical business practices and competitive pay and benefits 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. Seniority level Mid-Senior level Employment type Full-time Job function Finance and Sales Referrals increase your chances of interviewing at MassMutual by 2x Get notified about new Actuary jobs in Boston, MA.
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