Actuary, Institutional Insurance Pricing & Product Lead

MassMutual; Springfield (IL); On-site; USD 130,000 - 190,000; Full time

Job summary

MassMutual is seeking an Actuary for Institutional Insurance Product & Pricing in Boston, MA or Springfield, MA. You will join the team responsible for pricing and product management of bank-owned and corporate-owned life insurance products, developing new products and providing pricing quotes for private placement COLI.

You will become a subject matter expert, integrating technical actuarial work with collaboration across internal teams to drive profitable growth and risk management.

Qualifications

• Bachelor’s degree in Mathematics, Finance, or Computer/Data Science, Actuarial Science or related field.
• Fellow of the Society of Actuaries (FSA).
• 5 years of actuarial experience.
• Experience in pricing and product development for Life Insurance.

Responsibilities

• Support and lead projects related to product changes and new product offerings including pricing, filing, operational testing and risk assessment.
• Build and maintain pricing and risk analysis models.
• Price and review private placement COLI pricing quotes.
• Lead pricing reviews and approval process with Corporate Actuarial, Enterprise Risk Management, and other stakeholders.
• Determine new business and in-force crediting rates.
• Develop or coordinate appropriate experience assumptions for BOLI/COLI products.
• Provide leadership in the design and implementation of management tools to monitor in-force experience.
• Partner with Corporate Oversight, Enterprise Risk Management and other areas to establish appropriate risk tolerances, monitor results, and recommend risk mitigation actions.
• Influence and contribute to ongoing business strategy and growth.
• Comply with Actuarial Standards of Practice, Code of Professional Conduct and company standards.

Skills

Actuarial Experience

Analytical Skills

Communication Skills

Leadership

Time Management

Education

Bachelor’s degree in Mathematics, Finance, or Computer/Data Science, Actuarial Science or related field

Tools

Excel

Moody’s Axis

Job description

MassMutual is seeking an Actuary for Institutional Insurance Product & Pricing in Boston, MA or Springfield, MA. You will join the team responsible for pricing and product management of bank-owned and corporate-owned life insurance products, developing new products and providing pricing quotes for private placement COLI.

You will become a subject matter expert, integrating technical actuarial work with collaboration across internal teams to drive profitable growth and risk management.