Pension Benefit Calculation Consultant

MassMutual Financial Group•Springfield, MA

62d

About The Position

As a key member of the Pension Risk Transfer Operations team, this role is responsible for executing a wide range of analytical and transactional functions with medium to high complexity across multiple product lines and recordkeeping systems. The position involves calculating and processing financial and non-financial transactions-including various types of benefits and distributions-with a strong emphasis on accuracy, timeliness, and quality control.

Requirements

High School Diploma/GED/HiSET
3+ years' experience in interpreting Defined Benefit and/or Pension Risk Transfer plan provisions and contract documents accurately and effectively.
3+ years' experience performing comprehensive Defined Benefit and/or Pension Risk Transfer pension benefit calculations for retirement estimates, retirement commencements, death claims, and other complex PRT transactions.

Nice To Haves

Ability to apply PRT and industry related product knowledge and critical thinking skills to handle problems.
5+ years experience in interpreting PRT plan provisions and contract documents accurately and effectively
Handle multiple tasks, complete client requests timely and with high quality; follow through on outstanding items and communicate outcomes
Clearly communicate complex benefit calculations in simplified terms to either internal or external parties
Understand regulatory matters impacting calculations and processes
Support plan amendment process, compliance and regulatory changes and transition of new plans from New Business to in force operations
Processing support to other PRT operations processes as needed
Under general direction, responsible for performing complex research and analysis to support business operations - presenting findings to manager or project leader
Determine best practices and suggest improvements
Identify problems and collaborate with other departments on solutions
Perform special projects upon request
Oversee the work of less experienced peers

Responsibilities

Performing complex manual and automated calculations, transactions, and exception/escalation handling
Ensuring all transactions are processed in good order, identifying and resolving not-in-good-order (NIGO) issues, and maintaining clear communication with internal stakeholders.
Conducting detailed analysis of client and annuitant data, plan provisions, and forms to ensure compliance and proper processing.
Responding to internal service requests and completing complex research inquiries.
Identifying NIGO trends and recommending improvements to workflows, customer service experience and documentation.
Maintaining a high accuracy rate to mitigate financial risk to clients and the enterprise.
Acting as a subject matter expert, providing guidance, and coaching to team members.
Driving continuous improvement initiatives using Lean methodologies and supporting divisional projects as needed.
This role requires a high level of judgment, discretion, and a proactive mindset to enhance operational efficiency and client satisfaction.

Benefits

Regular meetings with the Pension Risk Transfer team
Focused one-on-one meetings with your manager
Access to mentorship opportunities
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
At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.
For more information about our extensive benefits offerings please check out our Total Rewards at a Glance.

Stand Out From the Crowd

Upload your resume and get instant feedback on how well it matches this job.

Upload and Match Resume