MassMutual
We help people secure their future and protect the ones they love.
Boston, MA, USA
Hybrid

Investment Actuary

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Employer Provided Salary: 137,800-180,800 Annually
Salary data is provided by the employer. Please note this is not a guarantee of compensation.

Investment Actuary
GIA and VA Asset Modeling and Development Team
Full-time
Springfield, MA, Boston, MA or New York, NY
The Opportunity
We are seeking a talented Investment Actuarial Consultant with asset knowledge to join Quant R&D's "GIA and VA Asset Modeling and Development" team. In this role, you will primarily focus on providing research, model development, reporting, analytics, and operations support for MassMutual's hedging programs. As an accredited actuary with a quantitative background in asset modelling, you will leverage both your asset and liability modelling expertise to generate and analyze pricing dynamics between the annuity product and derivatives that offset their risks. You will work closely with Portfolio Managers and other stakeholders in the "Quantitative Portfolio Management" to ensure the hedging program's operational continuity. In addition, Investment Management's inclusive culture and flat collaborative environment will provide you with numerous opportunities to learn, develop, and apply new skills within a continuously evolving business and market environment.
The Team
MassMutual's Investment Management (IM) department oversees and manages over $200 billion dollars in assets across its General Investment Account ("GIA"). It has primary responsibilities for conducting ALM on the GIA, growing and managing the investment portfolio, overseeing the performance of both affiliated and unaffiliated managers for the GIA, and directly selecting certain opportunistic and strategic investments.
The Quant R&D group of IM consists of a group of collaborative teams with interconnected responsibilities. The group's core focus is on generating ALM analytics, asset modelling, developing advanced analytics, researching interest and credit rate specific strategies, adopting emerging technologies, and providing and ensuring operations continuity for the Quantitative and Fixed Income Portfolio Management groups within IM.
The "GIA and VA Asset Modeling & Development" team of Quant R&D has primary responsibilities for modeling all of the GIA's assets, ensuring and maintaining critical Portfolio Management dependent operations for the GIA and Variable Annuity programs, and generating ALM pricing and risk analytics for all of Quantitative Portfolio Management's hedging programs. In addition, the team receives and coordinates general and regulatory requests to various stakeholders across Enterprise Risk Management, Corporate Finance, Actuarial, and other internal and external parties.
The coordinated and combined efforts of the team, group, and department ensures our success in continually striving to add value for MassMutual and its policyholders.
The Impact
The Investment Actuarial Consultant will have accountability for performing the following:

  • Researching and developing asset and liability pricing, valuation, and risk modeling
  • Collaborating with the GIA and VA Asset Modeling & Development team and Portfolio Managers for the life and annuities hedging programs to develop, implement, and manage asset-liability strategies that align with the company's goals and risk tolerance.
  • Leveraging quantitative and actuarial models to analyze and predict future financial outcomes and potential risks.
  • Evaluating the financial impact of various scenarios on the company's portfolio using quantitative methods, actuarial techniques, and advanced analytics.
  • Monitoring and analyzing market trends and economic factors that may affect the company's investment strategy and risk profile.
  • Providing technical expertise in the development and implementation of sophisticated asset models.
  • Delivering regular reports and presentations on hedging strategy outcomes, risk management, and asset-liability positions to the Portfolio Managers.
  • Staying up to date on regulatory changes that may impact the program's operation.


The Minimum Qualifications

  • 5+ years of experience in a quantitative actuarial role, preferably in asset-liability management
  • 5+ years of experience working with actuarial concepts, fixed-income asset modelling, and financial risk management and/or life insurance products
  • 2+ years of experience developing and implementing complex financial models
  • 2+ years experience programming in Python.
  • Bachelor's or Master's degree in Actuarial Science, Mathematics, Economics, Finance, Statistics, or a related field.
  • FSA (Fellow of the Societies of Actuaries)


The Ideal Qualifications

  • Strong ability to work independently, make recommendations, and collaborate effectively with others
  • Excellent quantitative, analytical, and problem-solving skills.
  • Familiarity and expertise on finance/investments with basic accounting knowledge
  • Strong communication skills with the ability to effectively articulate complex financial concepts to non-technical audiences
  • Exceptional interpersonal skills and willingness to work closely with portfolio managers and senior management
  • Willingness to continually develop new technology skills and learn about emerging regulatory requirements
  • CFA


What to Expect as Part of MassMutual and the Team

  • Routine meetings with senior and executive leadership
  • Regular 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 platforms and emerging technologies


#LI-ST1
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: $137,800.00-$180,800.00

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What are MassMutual Perks + Benefits

MassMutual Benefits Overview

At MassMutual, employees have the opportunity to earn a competitive salary and bonus, enroll in an
array of benefits, and participate in programs and services that support healthy lifestyles, assist them
in building financial security for themselves and their families and help them live well-balanced lives.

Culture
Volunteer in local community
Every action supporting a common cause is meaningful, and our employees make a difference in their own communities through our Matching Gift, Matching Time and Volunteer Time Off Programs.
Partners with nonprofits
Every year, MassMutual and the MassMutual Foundation invest more than $20 million focused on advancing economic opportunity. https://www.massmutual.com/about-us/corporate-responsibility/foundation
Open door policy
OKR operational model
Team based strategic planning
Open office floor plan
Employee resource groups
Employee-led culture committees
Hybrid work model
In-person all-hands meetings
Employees can either attend the in-person all-hands meeting, watch live via Zoom, or watch the recording. All employees are invited to submit questions.
Employee awards
Flexible work schedule
Flexible work arrangements, including telecommuting, are available in many departments across the company.
Remote work program
In addition to two remote days per week, MassMutual offers employees four full remote weeks of their choice per year.
Diversity
Documented equal pay policy
Dedicated diversity and inclusion staff
Highly diverse management team
More than half of our Board of Directors are comprised of women and people of color, making it one of the most diverse groups in the industry.
Mandated unconscious bias training
Diversity manifesto
Diversity employee resource groups
Hiring practices that promote diversity
Diversity recruitment program
Health Insurance + Wellness
Flexible Spending Account (FSA)
A health care flexible spending account (FSA) allows employees to save money on a before-tax basis for eligible medical, dental and vision expenses, subject to IRS limits.
Disability insurance
For details on short term and long term disability insurance please visit https://www.massmutual.com/-/media/files/employee_benefits.pdf
Dental insurance
Basic Dental covers preventive and basic restorative care; Major Dental covers all that Basic covers, plus restorations and orthodontia (limits apply).
Vision insurance
Health insurance
To learn more about our Health and Welfare Benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf
Life insurance
For more information about our Life Insurance Benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf
Pet insurance
Wellness programs
Team workouts
Mental health benefits
Transgender health care benefits
Wellness days
Abortion travel benefits
Our general medical travel benefit covers abortion-related travel.
Financial & Retirement
401(K)
In addition to our 401(k), MassMutual a cash balance plan that provides an account-based pension benefit based on accruals of pay credits and interest credits.
401(K) matching
Performance bonus
Charitable contribution matching
Every action supporting a common cause is meaningful, and our employees make a difference in their own communities through our Matching Gift and Matching Time Programs.
Pay transparency
Child Care & Parental Leave
Childcare benefits
Dependent care flexible spending account to allow you to set aside before tax dollars to pay for certain eligible child care expenses.
Generous parental leave
Leave for birth mothers of 18 weeks of fully paid leave. Non-birth mothers, fathers and adoptive parents eight weeks of fully paid parental leave.
Family medical leave
Caregiver leave: Up to two weeks paid leave to care for a loved one. Bereavement Leave: 15 days of paid time off to grieve the loss of a loved one with the employee defining who the loved one is.
Adoption Assistance
Company sponsored family events
MassMutual offers many opportunities for family events, from group volunteer experiences and chances to attend Red Sox games to business resource group-sponsored outings like annual pride parades.
Fertility benefits
Vacation + Time Off
Generous PTO
Paid holidays: 9 fixed and 1 floating. Vacation: starts at 19 vacation and personal days per calendar year, with increases at 5-year service intervals.
Paid volunteer time
Three days of paid time off is available to employees annually to give back to their communities, by sharing their time and talent with a cause close to their heart.
Paid holidays
Paid sick days
Occasional illness: up to 5 days per calendar year.
Flexible time off
Floating holidays
Bereavement leave benefits
Hardship benefits
320 hours of caregiver leave to take of loved ones when it matters most.
Office Perks
Commuter benefits
Free daily meals
Free snacks and drinks
Some meals provided
Onsite office parking
Recreational clubs
Relocation assistance
Fitness stipend
Home-office stipend for remote employees
MassMutual's wellness wallet is a stipend available to all employees, and can be used for myriad wellness-related purchases, including home-office purchases.
Meditation space
Mother's room
Onsite gym
Professional Development
Job training & conferences
Tuition reimbursement
Lunch and learns
Promote from within
Mentorship program
Continuing education stipend
Continuing education available during work hours
Online course subscriptions available
Customized development tracks
Paid industry certifications
Personal development training
Virtual coaching services

Additional Perks + Benefits

To learn more about our comprehensive benefits please visit: https://www.massmutual.com/-/media/files/employee_benefits.pdf

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