Actuary - Annuity Pricing
Full-Time
Springfield, MA or Boston, MA
The Opportunity
As a member of the Fixed & Income Annuity Pricing team, you will help support the pricing of a $15B+ fixed and income annuity business. You will work in a collaborative environment partnering with a diverse group of stakeholders representing both the sales and risk management sides of the business. You will also help modernize and automate several key processes related to both rate setting and rate implementation to free up time for strategic projects.
The Team
The annuity pricing team is a motivated group focused on maintaining our position as a market leader in the annuity space. In this role you will interact mainly with the Annuity product team, distribution (Career Agency and third party), and corporate oversight teams to help us balance competitiveness and profitability.
The Impact:
- Support the pricing of new and existing annuity products with a focus on Fixed and Income Annuities
- Automate repetitive tasks to eliminate routine manual work wherever possible
- Create and maintain an efficient process for communicating income and credited rate decisions to key business partners
- Support negotiations with reinsurance partner and corporate oversight to maximize profitability and competitiveness
- Provide actuarial support for policy form and regulatory filings, competitive benchmarking, and industry analysis.
- Work with our business partners to understand the industry, competitive landscape, and be a key player in the design of new products
- Lead pricing review and approval process with Corporate Actuarial, Enterprise Risk Management, and other stakeholders.
- Provide technical guidance, mentoring and training to actuarial students on the Annuity team.
- Gain proficiency and be the subject matter expert in Prophet, the pricing actuarial software.
The Minimum Qualifications
- Bachelor’s degree in actuarial science, math, statistics, or related discipline
- Associate of the Society of Actuaries
- 5+ years of actuarial experience
- 2+ years Familiarity with fixed annuities, income annuities, and/or Pension Risk Transfer
- 1+ year Experience with actuarial software and models such as AXIS, Prophet, or ALFA
- 1+ year Experience with automation tools such as Alteryx, Python and/or VBA
The Ideal Qualifications
- Fellow of the Society of Actuaries
- Annuity, ALM or investment experience
- Experience with fixed and income annuities
- Prophet modeling experience
- Ability to build, validate, enhance, and maintain asset share pricing models
- Strong oral and written communication skills
- Ability to interact with technical and non-technical audiences at all levels, within and across organizational boundaries
- Ability to use a disciplined work approach to initiatives, projects, and day-to-day activities
- Inquisitiveness, critical thinking, professional skepticism, and business sense
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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.
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
