Actuary - Institutional Insurance Product & Pricing

Actuary - Institutional Insurance Product & Pricing Full-Time Boston, MA or Springfield, MAThe OpportunityThe Institutional Insurance product and pricing team is focused on pricing and product management of market-leading bank-owned (BOLI) and corporate-owned (COLI) products.  The team performs all actuarial functions for new BOLI/COLI product development and provides pricing quotes for private placement COLI products.  The team is responsible for ensuring that our BOLI/COLI products are competitive, while achieving risk-controlled profitable growth.The TeamThe Institutional Insurance product and pricing team is focused on developing new and managing existing Universal Life and Variable Universal Life products in the BOLI/COLI markets. MassMutual’s Institutional Insurance business line has been in existence for 30+ years, has grown to over $34 billion in Assets Under Management and is a key contributor to MassMutual’s profitability. We are hiring an FSA to join the team and report to the Head of Institutional Insurance Product and Pricing. The ImpactThe candidate will become a subject matter expert for our Institutional Insurance products.The Institutional businesses are growing and represent a key component of the company’s business strategy.  As an Actuary on the team, you will focus on pricing, product development, product management, modeling, underwriting, experience/profit management and risk analysis/management.  This role will require combining technical actuarial skills with influence, collaboration, and effective communication with internal business and operational teams, corporate and other MassMutual functions.Specific responsibilities include:Supporting and leading projects related to product changes and new product offerings including pricing, filing, operational testing and risk assessmentBuilding and maintaining pricing and risk analysis modelsPricing and reviewing private placement COLI pricing quotesLead pricing reviews and approval process with Corporate Actuarial, Enterprise Risk Management, and other stakeholdersDetermine new business and in-force crediting ratesDevelop or coordinate appropriate experience assumptions for BOLI/COLI products.Provide leadership in the design and implementation of management tools to monitor in-force experience.Partner with Corporate Oversight, Enterprise Risk Management and other areas to establish appropriate risk tolerances, monitor results, and recommend risk mitigation actions. Influence and contribute to ongoing business strategy and growthComply with Actuarial Standards of Practice, Code of Professional Conduct and company standards.The Minimum QualificationsBachelor’s degree in Mathematics, Finance, or Computer/Data Science, Actuarial Science or related fieldAssociate of the Society of Actuaries (ASA)5+ years of actuarial experienceThe Ideal QualificationsFellow of the Society of Actuaries (FSA)5+ years of actuarial experience with a focus on Life InsuranceExperience with product pricing & product developmentProficiency with Microsoft Excel and Moody’s AxisDetail oriented, innovative, self-motivated, and independent with strong analytical, critical thinking, and actuarial skillsEffective time management, planning and organization skillsExcellent interpersonal and communication skills (written, verbal, presentation)Ability to:Independently drive and lead cross-functional productsConvey complex issues, explain methodologies, and influence resolutions in writing and orally to a variety of audiencesEffectively manage and deliver on multiple concurrent deliverables#LI-ST1MassMutual is an equal employment opportunity employer. We welcome all persons to apply.If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need. California residents: For detailed information about your rights under the California Consumer Privacy Act (CCPA), please visit our California Consumer Privacy Act Disclosures page.