MassMutual is an organization committed to be the best company in the industry based on superior financial strength, high dividends, and delivery of a high-quality customer experience. It’s about our customers and keeping them at the center of all that we do. Seeing ourselves as our customers do...as one company, one culture, one brand all working toward a shared purpose...To help people secure their future and protect the ones they love.

Core to this purpose is Risk Management. As we embark on a range of strategic imperatives to grow our businesses, the importance of our strong risk management foundation has never been clearer. Enterprise Risk Management’s Strategic and Business Risk Team is seeking an exceptional, highly motivated, collaborative, experienced actuary to lead the Distribution and Business Risk team.

Reporting to the Head of Strategic & Business Risk, this person will:

• Be a sought-after partner with the experience and talent to help MassMutual thrive in a world of new and emerging strategic and business risks
• Lead a small high performing team that collaborates with the various lines of business in order to tackle projects that quantify strategic and business risks and provide valuable insights that inform strategic business decisions
• Assess, monitor and recommend mitigations for the risks of MassMutual’s distribution channels, i.e. life and wealth field agents, third-party distribution, institutional investments, worksite, broker dealer, and channels of our material subsidiaries such as Great American Life Insurance Company; examples of risks to monitor are talent attraction and retention, agent/channel productivity, adoption of digital tools, strategic and execution risks of project or initiatives within each channel, etc.
• Utilize agile sprint methodology to work intensively on a risk topic and deliver recommendations in a relatively short period of time, and in a highly coordinated manner.

Examples of past projects include an enterprise risk review of low interest rates, inflation, execution risk, COVID-19 risks, and ERM product guidelines.

IMPACT OF THIS ROLE

• Develops insightful recommendations for the benefit of business and risk management by applying business acumen, technical analysis, and deep thought to critical risk issues
• Presents these conclusions and ensures buy-in by using the most effective, concise and visual methods, at all levels, including at the Enterprise Risk Committee whose members are the Executive Leadership Team
• Understands strategic initiatives, business goals and risks to success by developing solid working relationships with colleagues across the business lines and channels
• Ensures a high performing team by aligning coverage and expecting active engagement with the distribution channels
• Pro-actively identifies risk topics to analyze through awareness of our business, strategy and trends within the industry and environment, regardless of the topic
• Collaborates actively and manages projects on a rotating basis with team members
• Inspires others, including direct team of two experienced actuaries, with a continual focus on development and process improvement

To do this, it is expected that you will:

• Quickly establish credibility with a wide range of stakeholders
• Proactively collaborate with other teams in ERM as well as in the business lines
• Be a committed team player

• Inform and influence others appropriately, clearly and on a timely basis
• Adapt and thrive in complex, uncertain and changing situations
• Listen actively, and challenge yourself and others to think about all angles of the issue
• Quickly self-educate on new topics with less familiarity
• Have interest in a wide range of business issues
• Create tools and models if none exist to deliver a robust analysis

CANDIDATE QUALIFICATIONS

Required qualifications:

• Deep expertise with a wide array of products and financial roles (e.g. traditional life insurance products such as whole life, term life, universal life as well as annuity and institutional products; experience in a variety of pricing, product development, and financial valuation functions)
• Understanding of risk measurement frameworks and related risk management techniques and tools
• Strong analytical and problem-solving skills, including ability to drill down on details, perform analyses, resolve issues and distill findings into a concise summary of key conclusions and recommendations
• 10+ years of financial services or insurance experience
• Technical qualification/credentials, e.g., FSA or ASA

Preferred qualifications:

• Project management skills
• Risk management experience
• Experience using agile methodology a plus
• Broad experience with pricing, product development, and/or valuation of life, annuity, health and investment products a plus
• Data science, analytics and visualization skills (e.g., Python, R, SQL) are a plus

WORK LOCATION:

Boston or Springfield

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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.