Head of Annuity Liability ALM

MassMutual•Boston, MA

26d

About The Position

MassMutual is seeking an enthusiastic, well-rounded and motivated individual to lead the Annuity Liability ALM team within the Corporate Actuarial organization , r eport ing to the Head of Liability ALM Strategy . In this role , this leader will be accountable for ALM s trategies of annuity and annuity-like product s (collectively “annuity” or “annuities”) in close collaboration with I nvestment Management and Enterprise Risk Management . This leader will also partner across C orporate Actuarial, CFO, and the p ricing teams of the various businesses in driving ALM related priorities . Annuity products include: MYGA, FIA, VA, Funding Agreements (FABN, FHLB, T ra dGIC , M uniGIC ), PRT, SPIA, DIA, Structured Settlements , and others as assigned. This is an opportunity to join a thriving insurance organization. Growth, innovation and a consistent focus on policyholders and customers sets MassMutual apart and gives them a competitive edge in the market. We consistently challenge the organization to deliver stronger and better methods to achieve results and as a result are generating double digit sales growth year after year.

Requirements

Fellow of Society of Actuaries (FSA), Chartered Financial Analyst (CFA ) or equivalent professional credential from recognized professional actuarial association
7 + years of insurance and annuity experience, preferably in the U.S. market, in areas such as ALM, hedging, pricing, valuation, reinsurance and/or capital management
Strong k nowledge of actuarial and risk management concepts and practices; experience with quantifying, analyzing and managing a range of product risks
Self-motivated and independent with strong analytical, critical thinking, and problem - solving ski lls ; comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to problems and challenges
Effective time management, planning and organization skill s
Strong interpersonal, communication and influencing skills : ability to convey complex issues, explain methodologies and influence resolutions in writing and orally
A bility to rapidly respond to changes in direction, tight deadlines and high - pressure situations

Responsibilities

E valuate , i n collaboration with Investment Management and Enterprise Risk Management, the on-going fit and adequacy of existing Annuity ALM and VA / FIA hedging strategies a s market environment changes and make strategy, budget and other related recommendations, as applicable, while taking into account costs, risks and benefits of alternatives
Evaluate existing Annuity ALM and VA/FIA liability modeling and applicable metrics & measures to improve existing processes and/or make suggested changes
Partner with Investment Management and Enterprise Risk Management to drive IOC and CFO agenda and deliver on priorities
Critically and logically build financial and/or non-financial analytical models that drive fact-based decision-making to support ALM decision made by the leadership team
Provide thought leadership, technical expertise , and value-added support & guidance related to Annuity ALM and VA/FIA hedging
Support enforcement of corporate guidelines , governance processes and any other regulatory requirements
Closely collaborate with Product /Pricing and Product Pricing Oversight and to ensure adequacy and appropriateness of asset assumptions and ALM strategies recommended as part of the pricing exercise
Represent C orporate Actuarial on ALM topics at various company committees and working groups as required (VARC, VAOC, FARC, ALWG, IOC, PAC, etc.)
Stay abreast of emerging regulations as they impact applicable aspects of Liability ALM, hedging, economic assumptions and related actuarial work
P articipation on select US, International and Corporate projects and initiatives as applicable
Champion a continuous improvement mindset
Team leadership, clear communication and solid partnership with the business and other departments