Head of Annuity Valuation Reporting

The Opportunity The Head of Annuity Valuation will lead the team responsible for the valuation of MassMutual’s Retail and Institutional Annuity business, reporting to the Head of Valuation. This leadership role within the Valuation department will drive the delivery of accurate and timely financial reporting information and analysis that is actionable and forward-thinking. This leader will be a trusted partner to various internal and external stakeholders and manage a team of actuarial professionals. The role requires US Statutory and GAAP valuation knowledge, experiences with actuarial valuation platforms, as well as Annuity product knowledge. What Great Looks Like A successful candidate in this position will exhibit business acumen, critical thinking, and leadership skills while executing core valuation responsibilities, monitoring emerging valuation and capital requirements, and providing crucial insights into the performance of MassMutual’s Annuity business. The incumbent will be actively involved in new product initiatives, inforce management projects, and will serve as a trusted partner within the CFO organization. Additionally, they will collaborate with other departments such as ETX, ERM, among others. The Key Objectives and Impact Reporting and Analysis: Produce quality and timely valuation results and provide business insights Oversee Annuity Valuation production for quarterly reserving preparation, analysis, as well as other actuarial items on US Stat, GAAP and Tax bases Oversee preparation of the annual asset adequacy testing, including analysis and communication of results. Ensure effective application of valuation model governance framework for monthly/quarterly responsibilities, including process efficiency, control effectiveness, new product implementation, actuarial assumption/model change management, etc. Drive thought process and implement reserve movement and attribution analytics, delivering business insights to management and stakeholders. Trusted Business Partner: Collaborate effectively and provide solutions for business partners Prepare and effectively communicate financial information to various customers (e.g. Corp Finance, ERM, Investment Management, Tax, Audit, etc.), demonstrating strong understanding of the drivers of the results. Understand and proactively manage valuation implications to pricing/repricing, reinsurance, and capital initiatives. Partner on new business and inforce management initiatives and ensure appropriate implementation into valuation processes. Valuation Methodology, Data and Models Management: Interpret, develop and implement valuation methodologies, ensure appropriate usage of valuation input and output data, as well as valuation model management Lead the team on analysis and implementation of valuation issues, providing financial impact analysis and recommendations for action. Lead the team to monitor/influence/implement relevant emerging valuation regulation, determine appropriate actions, inform and influence others, participating on industry committees as relevant. Apply knowledge of Annuity products and regulations to navigate complexity, ambiguity, and limitations in valuation models Work directly with various audit stakeholders to demonstrate compliance with regulatory and model governance standards Lead team on development, analysis and enhancement of valuation models through partnering effectively with other modeling teams at the Company Leadership, Culture and Engagement: Consistently drive continuous improvement mindset and foster inclusive and engaging team culture Exhibits passion, curiosity and pursues learning opportunities. Takes ownership of professional development of self and team. Drive collaborative solutions and results by seeking and valuing diverse backgrounds, experiences and perspectives, and driving execution. Maximize team effectiveness by driving a compelling vision & strategy, managing priorities effectively and adapting quickly to achieve goals. Earn confidence and trust by demonstrating ownership, commitment, and follow-through in achieving results. Give employees opportunities to learn and grow; and help them identify the right developmental actions to help them improve. Create an environment where the team is inspired, engaged and motivated to deliver quality work and continuously improve capabilities. The Minimum Qualifications Bachelor’s Degree Fellow of the Society of Actuaries and Member of the American Academy of Actuaries, and “Compliant” with regards to SOA CPD Attestation Status Minimum of 10 years’ actuarial experience in Life or Annuity valuation or pricing, assumptions development, or risk management practice Demonstrated financial statement knowledge of US Statutory, Tax and GAAP accounting Minimum of 3 years’ experience with managing a team of actuarial professionals Proven change management skills and continuous improvement mindset Exceptional communication skills, both written and verbal Ability to build and maintain strong working relationships across different functional groups The Ideal Qualifications Expert-level technical knowledge of Annuity products and demonstrated ability to balance theory and practice Experience with various reinsurance transactions and related actuarial valuation methodologies Deep knowledge of valuation techniques and methodologies across a variety of regulatory regimes, including US Principles Based Reserves and GAAP LDTI Experience with Asset Adequacy Analysis or similar actuarial projection exercises Meets specific qualification standards for US NAIC Life statements of actuarial opinion Experience with US Cash Flow Testing/similar actuarial projection exercises, and meets the qualification standards of actuaries issuing actuarial statement of opinions Experiences with leading teams through change management, driving continuous improvement and developing talents #LI-IZ1 Salary Range: $180,700.00-$237,100.00

Find out more about the daily tasks, overall responsibilities, and required experience for this opportunity by scrolling down now. At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees.Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component. Why Join Us. We’ve been around since 1851. During our history, we’ve learned a few things about making sure our customers are our top priority. In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services. To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone. A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits. And your voice will always be heard. We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first. 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. At MassMutual, we Live Mutual. 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, pleasecontact usand share the specifics of the assistance you need. At MassMutual, we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.For more information about our extensive benefits offerings please check out our Total Rewards at a Glance.

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