The Opportunity
Head of Annuity Liability ALM Corporate Actuarial Full-Time, Boston, MA or Springfield, MA MassMutual is seeking an enthusiastic, well-rounded and motivated individual to lead the Annuity Liability ALM team within the Corporate Actuarial organization, reporting to the Head of Liability ALM Strategy. In this role, this leader will be accountable for ALM strategies of annuity and annuity-like products in close collaboration with Investment Management and Enterprise Risk Management. This leader will also partner across Corporate Actuarial, CFO, and the pricing teams of the various businesses in driving ALM related priorities. Annuity products include: MYGA, FIA, VA, Funding Agreements (FABN, FHLB, TradGIC, MuniGIC), PRT, SPIA, DIA, Structured Settlements, and others as assigned.
The Team
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.
Reports to
Head of Liability ALM Strategy Peers
Head of Life and Health Liability ALM Subordinates
Manage a team of three (3)
The Impact Evaluate, in collaboration with Investment Management and Enterprise Risk Management, the on-going fit and adequacy of existing Annuity ALM and VA/FIA hedging strategies as market environment changes and make strategy, budget and other related recommendations, 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 decisions 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 to ensure adequacy and appropriateness of asset assumptions and ALM strategies recommended as part of the pricing exercise
Represent Corporate 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
Participation 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
The Minimum Qualifications 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 knowledge 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 skills; comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to problems and challenges
Effective time management, planning and organization skills
Strong interpersonal, communication and influencing skills: ability to convey complex issues, explain methodologies and influence resolutions in writing and orally
Ability to rapidly respond to changes in direction, tight deadlines and high-pressure situations
#LI-LC1
MassMutual 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 view the California Consumer Privacy Act Disclosures page.
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Head of Annuity Liability ALM Corporate Actuarial Full-Time, Boston, MA or Springfield, MA MassMutual is seeking an enthusiastic, well-rounded and motivated individual to lead the Annuity Liability ALM team within the Corporate Actuarial organization, reporting to the Head of Liability ALM Strategy. In this role, this leader will be accountable for ALM strategies of annuity and annuity-like products in close collaboration with Investment Management and Enterprise Risk Management. This leader will also partner across Corporate Actuarial, CFO, and the pricing teams of the various businesses in driving ALM related priorities. Annuity products include: MYGA, FIA, VA, Funding Agreements (FABN, FHLB, TradGIC, MuniGIC), PRT, SPIA, DIA, Structured Settlements, and others as assigned.
The Team
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.
Reports to
Head of Liability ALM Strategy Peers
Head of Life and Health Liability ALM Subordinates
Manage a team of three (3)
The Impact Evaluate, in collaboration with Investment Management and Enterprise Risk Management, the on-going fit and adequacy of existing Annuity ALM and VA/FIA hedging strategies as market environment changes and make strategy, budget and other related recommendations, 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 decisions 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 to ensure adequacy and appropriateness of asset assumptions and ALM strategies recommended as part of the pricing exercise
Represent Corporate 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
Participation 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
The Minimum Qualifications 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 knowledge 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 skills; comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to problems and challenges
Effective time management, planning and organization skills
Strong interpersonal, communication and influencing skills: ability to convey complex issues, explain methodologies and influence resolutions in writing and orally
Ability to rapidly respond to changes in direction, tight deadlines and high-pressure situations
#LI-LC1
MassMutual 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 view the California Consumer Privacy Act Disclosures page.
#J-18808-Ljbffr