Reinsurance Development Specialist - Remote - US
*This position can be a Remote in the U.S. with travel once a quarter to MA*
The Opportunity
As a key member of the Strategic Actuarial Initiatives team, MassMutual is seeking for an enthusiastic, well-rounded and motivated financial professional to join the Reinsurance Development and Management team within the broader Corporate Actuarial and Business Analytics (CABA) team. In this function, this individual will cover all aspects of reinsurance across MassMutual and is expected to successfully partner with the various internal and external businesses and partners of the Organization
The Team
Reinsurance Development operates as a small center of excellence for reinsurance across the company. The team includes a treaty consultant, who focuses on managing our agreements and maintaining documentation, plus a member of the actuarial leadership development program, who leads analysis and oversees collateral requirements. We manage all of MassMutual’s reinsurance relationships. The team is expected to lead initiatives, provide oversight, and manage communications. We thrive on identifying solutions and executing, but also managing the performance for all our agreements.
The Impact
- Provide thought leadership, technical expertise, strong negotiation skills, value-added support & guidance for all non-administrative reinsurance aspects the company engages in from traditional mortality reinsurance supporting new business to financial reinsurance transactions supporting inforce and/or new business, to other business needs (e.g. underwriting, risk management);
- Explore emerging reinsurance solutions which MassMutual could strategically leverage to improve its overall financial, risk position or product competitiveness by exhibiting business acumen and developing & maintain strong internal and external business relationships
- Strategically and proactively help manage the use and direction of reinsurance across all lines of business for both inforce and new business balancing historical and expected go-forward profitability, risk appetite and existing exposures, contractual reinsurance obligations/requirements,
- Closely collaborate with
- Assumptions Oversight, Product Oversight and Asset Liability Management (ALM) teams to ensure adequacy and appropriateness of assumptions and strategies recommended as part of the reinsurance exercise,
- Reinsurance Administration team to ensure reinsurance solutions can be practically implemented,
- Enterprise Risk Management to evaluate and monitor counterparty risk exposure against established thresholds
- Stay abreast of emerging regulations impacting reinsurance (e.g. accounting, reserving, risk transfer, filing requirements);
- Participation on select US, International and Corporate projects and initiatives as applicable
- Strategic thinking, clear communication, leadership running initiatives and solid partnership with the business and other departments
The Minimum Qualifications
- 8 years of insurance experience, preferably in the U.S. market, in areas such as reinsurance, capital management and/or finance
- An individual with demonstrated professional financial experience with 3 years of life, health or annuity reinsurance experience
- Strong knowledge of actuarial, reinsurance, capital and risk management concepts and practices; experience with quantifying, analyzing and managing a range of product risks
- Self-motivated and independent with strong analytical, strategic & 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, influencing and negotiation 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
The Ideal Qualifications
- Fellow of Society of Actuaries (FSA) or equivalent professional credential from a recognized professional actuarial association is a plus but neither is not a requirement
- Experience in reinsurance across multiple product lines and capital management
What to Expect as Part of MassMutual and the Team
- Regular meetings with the Reinsurance Development & Management Team, and the broader Strategic Actuarial Initiatives group
- 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 nosiness 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 2019 World’s Most Ethical Company, a Top Place to Work in 2019 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.
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
Salary: $125,000 - $160,000 base
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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.