Massmutual
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Head of Annuity Valuation Reporting
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MassMutual 2 weeks ago Be among the first 25 applicants Join to apply for the
Head of Annuity Valuation Reporting
role at
MassMutual Get AI-powered advice on this job and more exclusive features. The Opportunity
Want to make an application Make sure your CV is up to date, then read the following job specs carefully before applying.
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
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.
Seniority level
Seniority levelDirector Employment type
Employment typeFull-time Job function
Job functionFinance and Sales Referrals increase your chances of interviewing at MassMutual by 2x Sign in to set job alerts for “Head of Reporting” roles.Director, Forecasting Planning and AnalyticsSenior Director/Executive Director, FP&A Cambridge, MA $220,000.00-$303,000.00 1 month ago VP, Client Centricity-International Business Boston, MA $106,000.00-$125,000.00 4 weeks ago Boston, MA $125,775.00-$209,625.00 5 days ago Vice President/Senior Vice President, Head of Program Development Boston, MA $208,200.00-$327,140.00 2 weeks ago Head of Accounting Policy and Group Reporting Boston, MA $175,000.00-$220,000.00 1 year ago Director, Corporate Finance, Planning & Reporting Systems Cambridge, MA $161,800.00-$221,800.00 2 weeks ago Senior Vice President, Client Service Executive Everett, MA $122,000.00-$200,000.00 5 days ago Boston, MA $155,000.00-$175,000.00 2 weeks ago Head of Accounting and Reporting - Timber and Agriculture Boston, MA $148,400.00-$275,500.00 1 day ago Capital Partners Head of Data and Reporting Boston, MA $150,000.00-$200,000.00 3 days ago Boston, MA $230,000.00-$250,000.00 6 days ago Boston, MA $78,720.00-$104,640.00 2 weeks ago Boston, MA $208,200.00-$327,140.00 4 weeks ago Burlington, MA $200,000.00-$240,000.00 3 days ago Associate Director, Forecasting, Rare Disease Cambridge, MA $171,900.00-$210,000.00 1 week ago Boston, MA $170,000.00-$282,500.00 8 hours ago Director/Senior Director, Head of Publications Boston, MA $180,700.00-$237,100.00 2 weeks ago Head of Office of the CEO (State Street Investment Management), Managing Director We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.
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Head of Annuity Valuation Reporting
role at
MassMutual 2 weeks ago Be among the first 25 applicants Join to apply for the
Head of Annuity Valuation Reporting
role at
MassMutual Get AI-powered advice on this job and more exclusive features. The Opportunity
Want to make an application Make sure your CV is up to date, then read the following job specs carefully before applying.
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
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.
Seniority level
Seniority levelDirector Employment type
Employment typeFull-time Job function
Job functionFinance and Sales Referrals increase your chances of interviewing at MassMutual by 2x Sign in to set job alerts for “Head of Reporting” roles.Director, Forecasting Planning and AnalyticsSenior Director/Executive Director, FP&A Cambridge, MA $220,000.00-$303,000.00 1 month ago VP, Client Centricity-International Business Boston, MA $106,000.00-$125,000.00 4 weeks ago Boston, MA $125,775.00-$209,625.00 5 days ago Vice President/Senior Vice President, Head of Program Development Boston, MA $208,200.00-$327,140.00 2 weeks ago Head of Accounting Policy and Group Reporting Boston, MA $175,000.00-$220,000.00 1 year ago Director, Corporate Finance, Planning & Reporting Systems Cambridge, MA $161,800.00-$221,800.00 2 weeks ago Senior Vice President, Client Service Executive Everett, MA $122,000.00-$200,000.00 5 days ago Boston, MA $155,000.00-$175,000.00 2 weeks ago Head of Accounting and Reporting - Timber and Agriculture Boston, MA $148,400.00-$275,500.00 1 day ago Capital Partners Head of Data and Reporting Boston, MA $150,000.00-$200,000.00 3 days ago Boston, MA $230,000.00-$250,000.00 6 days ago Boston, MA $78,720.00-$104,640.00 2 weeks ago Boston, MA $208,200.00-$327,140.00 4 weeks ago Burlington, MA $200,000.00-$240,000.00 3 days ago Associate Director, Forecasting, Rare Disease Cambridge, MA $171,900.00-$210,000.00 1 week ago Boston, MA $170,000.00-$282,500.00 8 hours ago Director/Senior Director, Head of Publications Boston, MA $180,700.00-$237,100.00 2 weeks ago Head of Office of the CEO (State Street Investment Management), Managing Director We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.
#J-18808-Ljbffr