Actuary – Pension Risk Transfer (PRT) Pricing

MassMutual•Boston, MA

About The Position

MassMutual is seeking an Actuary to join our growing Pension Risk Transfer (PRT) team, a key part of our Institutional Solutions business. This role offers an opportunity to apply actuarial and pricing expertise to complex and strategic pension transactions, contributing to the growth of the PRT business. The position involves supporting pricing, analysis, and underwriting for both the US Pension Risk Transfer and UK longevity reinsurance markets. Responsibilities include contributing to proposal development, product enhancements, and contract review for significant transactions. The role requires close collaboration with internal operations and corporate functions to shape pricing decisions, evaluate risks, and build relationships with key intermediaries. This position is ideal for individuals who enjoy solving complex financial problems, utilizing data-driven insights, and seeing their work directly impact business outcomes, offering significant visibility, challenge, and growth potential.

Requirements

Bachelor’s degree in actuarial science, mathematics, statistics, finance, or related discipline.
5+ years of experience in an actuarial, quantitative, or financial analysis role, including experience with pricing, valuation, modeling, risk analysis or related analytical work.
ASA Designation

Nice To Haves

FSA Designation
Knowledgeable in aspects of pension/retirement, pension risk transfer, or longevity reinsurance a plus
Demonstrates initiative and sense of urgency; takes ownership and is results-orientated
Ability to effectively manage and deliver on multiple concurrent deliverables
Disciplined approach to strategic initiatives, business projects and day-to-day activities
Ability to analyze and comprehend complex information, as well as convey complex materials to non-technical audiences
Comfortable dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem
Detail oriented with strong analytical, critical thinking and problem-solving skills
Excellent interpersonal and communication skills (written, verbal, presentation)
Advanced business degree and/or professional qualifications

Responsibilities

Pricing of US Pension Risk Transfer and UK longevity reinsurance opportunities
Underwriting and Development of proposals of new business
Risks analyses and product development & modifications including contract and certificate reviews of group annuity products
Work with Pricing, Product, and Corporate teams on approvals, assumptions, pricing processes, and exceptions
Modifying pricing models and sensitivity testing
Solicit & analyze competitive data
Develop and maintain relationship with consultants and advisors
Actuarial projects in support of the Pension Risk Transfer business