Actuarial Associate (ALDP) - Annuity Pricing and Profitability
The Opportunity
MassMutual values Actuaries and their key leadership role in helping MassMutual achieve its strategic goals. The Actuarial Leadership Development Program (ALDP) provides you with all the benefits needed to not only successfully pass actuarial exams, but to prepare you for leadership roles throughout the organization. The rotational design of the program exposes students to a broad breadth of experiences as well as technical and industry knowledge. You will experience working in a diverse and established Fortune 100 Company while having fun and building relationships that will last a lifetime.
The Team
We have a current opening in the ALDP for an experienced Actuarial Associate to work on our Annuity Pricing and Profitability team. The team is responsible for the pricing and profitability of MassMutual’s annuity products. The team is tasked with developing and executing pricing strategy for new and inforce products, and monitoring profitability and taking strategic actions as necessary. The team accomplishes these responsibilities through frequent interaction with business partners such as corporate product oversight, ALM & hedging, and enterprise risk management areas.
The Impact
This role will offer the opportunity to understand and lead discussions on the financial drivers of the annuity product with business partners, develop actuarial modeling skills, and interact with non-actuaries in the Annuity Product organization. You should expect to become a subject matter expert on variable annuity and index-linked annuity pricing and risk management and will take ownership of the profitability analysis discussions, as well as the pricing model and assumptions used to support such analysis.
As a participant in the ALDP, you will experience the following:
- Rotations: Engage in meaningful work that supports the success of the company as you are exposed to various business lines and actuarial functions through our rotational program.
- Mentors: Learn from a mentor who will work closely with you to provide career and exam guidance, development, coaching and support.
- Meaningful Projects: Apply your knowledge and skills by participating in high profile projects in a respected and highly rated company.
- Networking Lunches with Senior Actuaries: Attend networking lunches that allow you to interact with senior actuaries at MassMutual, including the Chief Actuary and Chief Investment Officer.
- Executive Speaker Series: Attend education forums presented by company leaders that will educate you on a variety of possible topics, including industry issues, line of business initiatives, and major projects. Past speakers have included the President & CEO, the CFO, and leaders of various lines of business.
- External Seminars & Meetings: Attend actuarial seminars and meetings to enhance your understanding of industry issues and network with other industry professionals.
- Corporate Learning & Development Programs: Participate in internal programs that allow you to develop leadership competencies in areas such as interpersonal relations, presentation skills, business acumen, and the like.
- Community Volunteer Opportunities: Embrace the regular opportunities to give back to the local community alongside other MassMutual employees.
- Social & Networking Events: Attend actuarial networking events with other students and company actuaries, such as mini-golf, bowling, softball, and exam recognition nights
The Minimum Qualifications
- BA or BS with a quantitative focus (e.g., Mathematics, Actuarial, Finance, Economics or related major) with at least a cumulative GPA of 3.0
- Must have passed at least 4 or more actuarial exams
- Must have at least 3 years of professional experience in an actuarial related position
- Commitment to pursue Fellowship in the Society of Actuaries
- Demonstrated leadership skills from either school or work
- Must be authorized to work in the United States without requiring visa sponsorship, both now and in the future
The Ideal Qualifications
- Strong analytical skills with hands-on experience using actuarial modeling platforms
- Experience in annuities, especially variable annuity and/or index-linked annuity, is a plus
- Experience in Prophet is a plus
- Ability to work independently and manage multiple projects
- Strong technical skills using Excel, VBA
- Cross collaboration experience working across multiple stakeholder groups
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Annuity Pricing and Profitability 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
About MassMutual
We’ve been around since 1851. During our history, we’ve helped millions of people find financial freedom, offer financial protection, and plan for the future.
Today, we continue to develop meaningful relationships with our customers by building their trust, being knowledge problem solvers and always prioritizing their needs. MassMutual is guided by a single purpose: We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first. It’s more than our company structure – it’s our way of life.
MassMutual was recognized as an Ethisphere 2020 World’s Most Ethical Company, a Top Place to Work in 2020 according to The Boston Globe and named among America’s Best Employers for Diversity according to Forbes 2020. MassMutual ranks No. 84 on the Fortune 500 list of largest companies.
#LI-LC1
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.