Job Information
MassMutual Life Pricing Actuary in Springfield, Massachusetts
Life Pricing Actuary
Life Insurance Pricing and Profitability Team
Full time
Springfield, MA or Boston, MA
The Opportunity
As an Actuary on the Life Insurance Pricing and Profitability team you will be responsible for supporting the pricing initiatives for new life insurance products and product enhancements within MMUS. This is an opportunity to have a significant impact on a product line critical to our company’s success.
The Team
The team is responsible for the pricing and profitability of MassMutual’s individual life insurance products. The team is comprised of a group of actuaries and quantitative consultants with extensive experience in life insurance pricing, product development, and modeling. The team is focused on meeting the needs of three key stakeholders – our end customers, our distribution partners, and our company.
The Impact:
Product Design and Pricing
Participate in product development ideation
Using actuarial principles and pricing models, lead the design and pricing of new life insurance products and/or enhancements to existing life products
Develop and/or enhance pricing models to support product pricing and design
Secure required pricing approvals from key stakeholders by balancing competitive benchmarks and acceptable levels of expected profit and risk
Create and maintain pricing assumption and final pricing documentation
Product Filing Support
- Research state/federal regulations that govern life insurance and develop actuarial memorandums and demonstrations to support state and federal filings of life products
Product Implementation
Develop actuarial calculation specifications and review requirements for implementation
Assist with calculation testing and validation
Adhoc Analysis
Provide internal (home office) and external (agent) actuarial support as needed
The Minimum Qualifications
5+ years' relevant actuarial experience, including working with life insurance and/or annuity products
FSA (or near FSA) designation required
Bachelor’s degree in actuarial science, math, statistics, or related discipline
3+ years' experience with actuarial software and models
The Ideal Qualifications
Life insurance pricing experience, along with exposure to coding/programming, are a plus
Ability to interact with technical and non-technical audiences at all levels, within and across organizational boundaries
Strong interpersonal and communication skills: ability to document complex issues, methodologies, and resolutions such that others can readily understand them
Ability to use a disciplined work approach to initiatives, projects, and day-to-day activities
Ability to work cross-functionally to reconcile competing priorities while meeting organizational objectives
Sound business judgment in an environment of rapid change - ability to respond to changes in direction, tight deadlines, and high-pressure situations
Comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to a problem
Takes ownership and is results-orientated
Candidates must be authorized to work in the United States without requiring visa sponsorship
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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.
Salary Range: $137,800.00-$180,800.00
MassMutual
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