Health Valuation & Modeling Actuary

Massachusetts Mutual Life Insurance Company
US - Massachusetts - Springfield
July 3, 2024

Health Valuation and Modeling ActuaryHealth Products Valuation & Projections TeamFull timeSpringfield, MA or Boston, MAThe OpportunityAt MassMutual, we are dedicated to helping people secure their future and protect the ones they love.
The Corporate Actuarial & Business Analytics (CABA) organization supports this mission with actuarial and business analytics, while providing our employees with meaningful career experience.
To support the expanding role and influence of CABA within the company, we are hiring an Actuary for the Health Valuation team.The TeamThe Health Valuation Team protects the long-term interests of policyholders by ensuring MassMutual is positioned to meet its future obligations.
Responsible for over $7 billion in direct statutory reserves, the team performs statutory, GAAP, and tax valuation and reporting on Disability Income ('DI') and Long-Term Care ('LTC') products across retail and worksite channels.
Our work affects regulatory compliance, strategic decision-making and inforce management.
For those interested in leveraging and developing their skills in actuarial modeling and interpreting and communicating financial results in a small team environment, this is an exciting role.The ImpactLead activities that improve valuation and/or CFO infrastructure and processes, including data automation and modernizationLead AXIS model development, maintenance, and governanceUpdate models for assumption changes and new productsMonitor AXIS enhancements, recommend methodology updates, and analyze impactsExecute quarterly valuation and annual cashflow testingDeliver and explain stat, tax, and GAAP reserve resultsProvide support to key customers, managing expectations for deliverables, providing high-value analysis and problem solvingDevelop business acumen to understand how product design, regulatory requirements, and modeling assumptions affect financial resultsAnticipate errors and improve processes by leveraging communication skills with internal and external partnersSupport and enhance existing controls, and work directly with various audit stakeholders to demonstrate complianceDemonstrate agility in responding to stakeholder questions and unexpected results, often at times of peak activity and tight deadlinesThe Minimum QualificationsFSA (or near FSA) designation required, with MAAA designationBachelor's degree in actuarial science, math, statistics, or related discipline5+ years' relevant actuarial experience, including experience with financial models, systems, databases, and process flows2+ years of experience with AXIS modelingThe Ideal QualificationsDemonstrated accountability and ownership of long-term independent projectsStrong communication skills, both written and verbalContinuous improvement mindsetAbility to build and maintain strong working relationships across cross-functional groupsProficient with complex model design and validation techniquesExpertise with interpreting, problem-solving and explaining financial results on highly visible projects such as Cash Flow TestingExperience with product specifications, valuation regulations, modeling assumptions, inforce policy data, and ledger outputFamiliarity with general programming languages such as Visual Basic, SQL, Alation and MicroStrategyProficiency in MS Excel and MS AccessStrong math, analytical and collaboration skills#LI-ST1Salary Range:
$137,800.00-$180,800.00At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees.
Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.Why Join Us.We've been around since 1851.
During our history, we've learned a few things about making sure our customers are our top priority.
In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services.
To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone.
A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits.
And your voice will always be heard.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.
We are a company of people protecting people.
Our company exists because people are willing to share risk and resources, and rely on each other when it counts.
At MassMutual, we Live Mutual.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.At MassMutual, we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees.
Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.
For more information about our extensive benefits offerings please check out our Total Rewards at a Glance.SummaryLocation:
Springfield, MA; Boston, MAType:
Full time

Read the full job description and apply online on the recuiter's web-site

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