Director of Life Products Financial Reporting

Director of Life Products Financial Reporting
Full-Time
Boston, MA or Springfield, MA
The Opportunity
The Director of Life Products Financial Reporting will lead the team responsible for the actuarial valuation and financial reporting for all of MassMutual's life products, reporting to the Head of Life Products Valuation & Projections. This leadership role within the Valuation department will drive the delivery of accurate and timely financial information and analysis that is actionable and forward-thinking. This leader will be a trusted partner to various internal and external stakeholders and manage a team of actuarial and quantitative professionals. The role requires valuation knowledge and expertise in both traditional and non-traditional life products including participating whole life, term life, and other life insurance products.
This leader will exhibit strong leadership and communication skills in all aspects of this role ranging from presenting to management, interacting with internal and external stakeholders, to managing own team. This leader will demonstrate the ability to efficient processes, and robust valuation analysis capabilities to effectively deliver timely and insightful results. In addition, this individual will be proactive in developing team vision & strategy, driving continuous improvement of our valuation capabilities, and executing on projects effectively. This leader will play a key role in actively managing team performance and developing talents within the Valuation department at MassMutual.
The Impact
Leadership, Culture and Engagement: Consistently drive continuous improvement mindset and foster inclusive and engaging team culture

• Exhibits passion, curiosity and pursue learning opportunities. Takes ownership of professional development of self and team.
• Drive collaborative solutions and results by seeking and valuing diverse backgrounds, experiences and perspectives, and driving execution.
• Maximize team effectiveness by driving a compelling vision & strategy, managing priorities effectively and adapting quickly to achieve goals.
• Earn confidence and trust by demonstrating ownership, commitment, and follow-through in achieving results.
• Give employees opportunities to learn and grow; and help them identify the right developmental actions to help them improve.
• Create an environment where the team is inspired, engaged and motivated to deliver quality work and continuously improve capabilities.

Reporting and Analysis: Produce quality and timely valuation results and provide business insights

• Oversee monthly/quarterly analysis and reporting of US Stat and GAAP reserves, other actuarial items.
• Ensure effective application of valuation governance framework for monthly/quarterly responsibilities, including process efficiency, control effectiveness, new product implementation, , etc.
• Ensure accurate and timely delivery of annual actuarial exhibit filings, as well as ad-hoc regulatory inquiries on valuation matters.
• Lead quantitative analysts to continue the transformation of data management and valuation processes, perform data production work, as well as completing financial exhibits and industry/rating agency surveys.
• Drive thought process and implement reserve movement and attribution analytics, delivering business insights to management and stakeholders.

Trusted Business Partner: Collaborate effectively and provide solutions for business partners

• Prepare and effectively communicate financial information to various customers (e.g. Corp Finance, ERM, Investment Management, Tax, Audit, etc.), demonstrating strong understanding of the drivers of the results.
• Understand and proactively manage valuation implications to pricing/repricing, reinsurance, and capital initiatives.
• Partner on new business initiatives and ensure appropriate implementation into valuation processes.
• Provide valuation requirements to internal and external technology partners
• Contribute to review of Life valuation assumptions and actively participate in experience studies/assumption governance framework.

Valuation Methodology, Data and Models Management: Interpret, develop and implement valuation methodologies, ensure appropriate usage of valuation input and output data, as well as valuation model management

• Perform or lead others through analysis and implementation of valuation issues, providing financial impact analysis and recommendations for action.
• Perform or lead others to monitor/influence/implement relevant emerging valuation regulation, determine appropriate actions, inform and influence others, participating on industry committees as relevant.
• Work directly with various audit stakeholders to demonstrate compliance with regulatory and model governance standards
• Lead team on development, analysis and enhancement of valuation data through partnering effectively with the Enterprise data team.
• Lead team on development, analysis and enhancement of valuation models through partnering effectively with the modeling team.

The Minimum Qualifications

• Bachelor's Degree or higher
• Fellow of the Society of Actuaries
• 5+ years' actuarial experience in valuation and reporting, and/or in life pricing, assumptions development, risk management
• 3+ years' exposure to valuation regulations and financial statements under US Statutory and GAAP reporting

The Ideal Qualifications

• Member of the American Academy of Actuaries, and "Compliant" with regards to SOA CPD Attestation Status
• Experience in management of small teams
• Continuous improvement mindset
• Strong working knowledge of valuation techniques
• Strong working knowledge of US insurance products and pricing
• Strong communication skills, both written and verbal
• Ability to build and maintain strong working relationships across cross-functional groups
• We are seeking someone with strong technical and leadership skills with proven experience of overseeing valuation processes and communicating results
• Experiences with leading teams through change management, driving continuous improvement and developing talents
• Demonstrated ability to build and maintain strong working relationships across cross-functional groups and to proactively resolve issues
• Strong knowledge of individual participating life products valuation techniques, regulations and methodologies, including Principles Based Reserves and GAAP LDTI
• Experience with US Cash Flow Testing/similar actuarial projection exercises, and meets the qualification standards of actuaries issuing actuarial statement of opinions

What to Expect as Part of MassMutual and the Team

• Regular meetings with the team
• Focused one-on-one meetings with your manager
• 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

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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.
Salary Range: $152,100.00-$199,600.00