The Actuary will lead Variable Annuity pricing, provide actuarial support for filings, and mentor actuarial students, enhancing profitability and competitiveness.
Actuary - Variable Annuity Pricing
Full-Time
Springfield, MA or Boston, MA
The Opportunity
The Variable Annuity Pricing Actuary will be an integral part of the Annuity Pricing team and will use business and technical knowledge to expand and enhance MassMutual's position in the annuity marketplace.
The Team
The position is part of the Product department within MassMutual's Brand, Product, and Affiliated Distribution organization. The Annuity Pricing team is responsible for the pricing and profitability of all MassMutual Annuities. In addition to Annuity pricing, the team is also expected to support, as necessary, all other actuarial aspects of Annuity product management, operations support and distribution interaction. This potentially means active involvement with experience studies, competitive analysis, and other actuarial functions.
The Impact:
The Minimum Qualifications
The Ideal Qualifications
What to Expect as Part of MassMutual and the Team
#LI-BO1
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: $141,300.00-$185,400.00
Full-Time
Springfield, MA or Boston, MA
The Opportunity
The Variable Annuity Pricing Actuary will be an integral part of the Annuity Pricing team and will use business and technical knowledge to expand and enhance MassMutual's position in the annuity marketplace.
The Team
The position is part of the Product department within MassMutual's Brand, Product, and Affiliated Distribution organization. The Annuity Pricing team is responsible for the pricing and profitability of all MassMutual Annuities. In addition to Annuity pricing, the team is also expected to support, as necessary, all other actuarial aspects of Annuity product management, operations support and distribution interaction. This potentially means active involvement with experience studies, competitive analysis, and other actuarial functions.
The Impact:
- Lead the pricing of new and existing annuity products with a focus on Variable Annuities.
- Provide actuarial support for policy form and regulatory filings, competitive benchmarking, and industry analysis.
- Work with our business partners to understand the industry competitive landscape and be a key player in the design of new products to balance competitiveness and profitability.
- Take ownership in setting pricing assumptions and performing pricing analysis.
- Lead pricing review and approval process with Corporate Actuarial, Enterprise Risk Management, and other stakeholders.
- Provide technical guidance, mentoring and training to actuarial students on the Annuity team.
- Gain proficiency and be the subject matter expert in Prophet, the pricing actuarial software.
- Take ownership of pricing models and lead model development for new products.
- Drive continuous improvement and efficiencies beyond own scope of responsibility.
The Minimum Qualifications
- Associate of the Society of Actuaries
- 5+ years' experience with actuarial software and models
- Bachelor's degree in actuarial science, math, statistics, or related discipline
The Ideal Qualifications
- Fellow of the Society of Actuaries
- Annuity, ALM or investment experience
- Prophet modeling experience
- Ability to build, validate, enhance, and maintain asset share pricing models
- Strong oral and written communication skills
- Ability to interact with technical and non-technical audiences at all levels, within and across organizational boundaries
- Ability to use a disciplined work approach to initiatives, projects, and day-to-day activities
- Inquisitiveness, critical thinking, professional skepticism, and business sense
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Annuity Pricing 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
- Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits
#LI-BO1
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: $141,300.00-$185,400.00
Top Skills
Prophet
Similar Jobs at MassMutual
Big Data • Fintech • Information Technology • Insurance • Financial Services
Lead a team responsible for actuarial valuation reporting and strategic initiatives across life insurance products, ensuring compliance with regulations and delivering accurate financial information.
Top Skills:
Actuarial ValuationGaap AccountingUs Statutory AccountingValuation Methodologies
Big Data • Fintech • Information Technology • Insurance • Financial Services
Manage relationships with investment managers, driving strategic partnerships and optimizing governance processes to improve performance and transparency across MassMutual's investment management team.
Top Skills:
Smartsheet
Big Data • Fintech • Information Technology • Insurance • Financial Services
The Director of Investment Controllership oversees investment accounting and controllership for derivatives, ensuring accuracy in financial results and enhancing processes for timely reporting.
Top Skills:
CalypsoMurex
What you need to know about the Colorado Tech Scene
With a business-friendly climate and research universities like CU Boulder and Colorado State, Colorado has made a name for itself as a startup ecosystem. The state boasts a skilled workforce and high quality of life thanks to its affordable housing, vibrant cultural scene and unparalleled opportunities for outdoor recreation. Colorado is also home to the National Renewable Energy Laboratory, helping cement its status as a hub for renewable energy innovation.
Key Facts About Colorado Tech
- Number of Tech Workers: 260,000; 8.5% of overall workforce (2024 CompTIA survey)
- Major Tech Employers: Lockheed Martin, Century Link, Comcast, BAE Systems, Level 3
- Key Industries: Software, artificial intelligence, aerospace, e-commerce, fintech, healthtech
- Funding Landscape: $4.9 billion in VC funding in 2024 (Pitchbook)
- Notable Investors: Access Venture Partners, Ridgeline Ventures, Techstars, Blackhorn Ventures
- Research Centers and Universities: Colorado School of Mines, University of Colorado Boulder, University of Denver, Colorado State University, Mesa Laboratory, Space Science Institute, National Center for Atmospheric Research, National Renewable Energy Laboratory, Gottlieb Institute
