Life & Health ALM Actuary

MassMutual•Springfield, MA

28d

About The Position

At MassMutual, we’re passionate about helping millions of people find financial freedom and this passion has driven our approach to developing highly interactive digital experiences for our customers. The Corporate Actuarial (CA) organization is focused on being a trusted business partner and go-to provider of actuarial and business analytics by influencing key business decisions with efficient use of data and technology, while providing our employees with exciting career experiences. To help us achieve our mission, we are hiring an actuary to join the Life & Health team. As an ALM Actuary you will join the team responsible for building and maintaining liability ALM models, managing the ALM production process and collaborating with Investment Management and ERM to produce ALWG and Economic Capital materials. In addition, the role will work with pricing and investment management teams to evaluate the trade-offs of different investment strategies. You will be a key resource in maintaining our production process, updating ALM assumptions and communicating results to various teams throughout the organization. Additionally, the individual will assist in other cross-company and cross-team initiatives, and maintenance of ALM processes. The Life & Health ALM team within Corporate Actuarial is charged with supporting the company’s execution of its strategies from a liability point of view. We own the production of liability metrics needed to execute these strategies, but we also partner with investment management, ERM, and Product in the development and ongoing management of these strategies. We are a small team, so agility is important. If you are someone that has a passion for tackling complex problems, continuous improvement, innovative practices, and a curiosity to pursue learning opportunities, this may be the right role for you.

Requirements

ASA or FSA
Bachelor’s Degree or higher in Mathematics, Actuarial Science, Finance or related field
5+ years of experience including actuarial business functions and risks, investments, ALM, or hedging

Nice To Haves

Fellow of the Society of Actuaries or Chartered Financial Analyst preferred
Proficiency in Microsoft Excel and Access
Experience with (or desire to learn) programming languages such as Excel VBA, SQL, or Python
Actuarial modeling software experience a plus (including, but not limited to: AXIS and Prophet)
Demonstrated strong written and oral communication skills
Expertise in data and model management
Continuous improvement and strong controls mindset
Navigates complex and ambiguous problems with agility and resiliency
Strong analytical and creative problem-solving skills
Strong modeling and technical skills, but also a healthy intellectual curiosity and willingness to think outside the box
Ability to build and maintain strong working relationships across cross-functional groups and to proactively resolve issues
Knowledge of life and health products, risk management techniques, regulations and methodologies
Ability to manage competing priorities

Responsibilities

Demonstrates accountability in providing quantitative and qualitative support to Corporate Actuarial, Investment Management, and the Life and Health Product teams by leveraging knowledge of actuarial business functions and risks, and technical facility with computer tools.
Develop, document, and maintain methodologies, assumptions, qualifications, and computer programs, using a variety tools, to solve challenging actuarial analysis.
Demonstrate ownership in learning and collaborating with others to meet customer needs.
Deliver timely and accurate information to support the Company’s ALM recommendations.
Research, develop, and implement complex solutions impacting business decisions.
Communicate findings and influence decision makers.
The individual will effect change and help with the redesign and modernization of ALM.
Partner with other teammates to run the monthly liability production process for life and health products.
Continually improve model processes, lead model development work, and streamline work processes so we can spend more time analyzing results.
Collaborate with the Asset Liability Working Group (ALWG) to improve analytics around duration/convexity metrics, liquidity constraints, and ALM strategy changes.
Use the governance framework, including assumption-setting, model development and management and data governance to implement new products and produce accurate, informative results.

Benefits

Regular meetings with the Life & Health ALM team
Build and maintain relationship with the Business
Focused one-on-one meetings with your manager
Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
Access to learning content on Degreed and other informational platforms

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