Actuary – Pension Risk Transfer (PRT) Pricing

Massachusetts Mutual Life Insurance Company; Boston (MA); On-site; USD 145,000 - 190,000; Full time

Job summary

MassMutual in Boston seeks an experienced Actuary to join the Pension Risk Transfer Pricing team. You will apply actuarial and pricing expertise to complex pension transactions, supporting US Pension Risk Transfer and UK longevity reinsurance pricing, underwriting, and proposal development.

You will collaborate with Pricing, Product, and Corporate teams to inform decisions and drive growth. The role requires 5+ years in actuarial/financial analysis, a strong pricing background, and ASA

Qualifications

• Bachelor’s degree in actuarial science, mathematics, statistics, finance, or related discipline.
• 5+ years of experience in an actuarial, quantitative, or financial analysis role, including pricing, valuation, modeling, risk analysis or related analytical work.
• ASA Designation

Responsibilities

• Pricing US Pension Risk Transfer and UK longevity reinsurance opportunities.
• Underwriting and development of proposals for new business.
• Risks analyses and product development & modifications including contract and certificate reviews of group annuity products.
• Work with Pricing, Product, and Corporate teams on approvals, assumptions, pricing processes, and exceptions.
• Modifying pricing models and sensitivity testing.
• Solicit & analyze competitive data.
• Develop and maintain relationships with consultants and advisors.
• Actuarial projects in support of the Pension Risk Transfer business.

Skills

Actuarial pricing

Pricing analysis

Underwriting

Education

Bachelor's degree in actuarial science/ mathematics/ statistics/ finance

ASA Designation

Job description

The Opportunity

MassMutual is seeking an Actuary to join our growing Pension Risk Transfer (PRT) team, a key part of our Institutional Solutions business. This is an opportunity to apply your actuarial and pricing expertise to some of the industry's most complex and strategic pension transactions while helping drive the continued growth of our PRT business. In this role, you will support pricing, analysis and underwriting of both the US Pension Risk Transfer and UK longevity reinsurance markets. You’ll also contribute to proposal development, product enhancements, and contract review for high-profile transactions. Working closely with colleagues in internal operations and corporate functions, you will help shape pricing decisions, evaluate risks, and build relationships with key intermediaries. If you enjoy solving complex financial problems, applying data-driven insights, and seeing your work directly impact business outcomes, this role offers significant visibility, challenge, and opportunity for growth.

The Team

You’ll join the Pension Risk Transfer Pricing team, a high-performing group responsible for pricing and evaluating MassMutual’s pension risk transfer and longevity reinsurance transactions. The team plays a critical role in informing pricing and risk decisions that directly impact business outcomes and growth. We foster a highly collaborative environment where team members partner closely with colleagues across actuarial, investments, valuation, and business development functions. This role offers opportunities to strengthen technical expertise, broaden your business knowledge, and make a meaningful impact on a business that continues to grow.

The Impact

• Pricing of US Pension Risk Transfer and UK longevity reinsurance opportunities
• Underwriting and Development of proposals of new business
• Risks analyses and product development & modifications including contract and certificate reviews of group annuity products
• Work with Pricing, Product, and Corporate teams on approvals, assumptions, pricing processes, and exceptions
• Modifying pricing models and sensitivity testing
• Solicit & analyze competitive data
• Develop and maintain relationship with consultants and advisors
• Actuarial projects in support of the Pension Risk Transfer business

Minimum Qualifications

• Bachelor’s degree in actuarial science, mathematics, statistics, finance, or related discipline.
• 5+ years of experience in an actuarial, quantitative, or financial analysis role, including experience with pricing, valuation, modeling, risk analysis or related analytical work.
• ASA Designation

Ideal Qualifications

• FSA Designation
• Knowledgeable in aspects of pension/retirement, pension risk transfer, or longevity reinsurance a plus
• Demonstrates initiative and sense of urgency; takes ownership and is results-orientated
• Ability to effectively manage and deliver on multiple concurrent deliverables
• Disciplined approach to strategic initiatives, business projects and day-to-day activities
• Ability to analyze and comprehend complex information, as well as convey complex materials to non-technical audiences
• Comfortable dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem li>Detail oriented with strong analytical, critical thinking and problem-solving skills
• Excellent interpersonal and communication skills (written, verbal, presentation)
• Advanced business degree and/or professional qualifications

What You Can Expect at MassMutual:

• Clear areas of ownership and accountability, with work that connects directly to company and customer outcomes.
• A collaborative environment where perspectives are welcomed.
• Access to learning, development, and internal networks that support continuous growth and skill-building over time.
• Employee-led communities and forums that foster connection, learning, and inclusion across the organization.
• A culture grounded in integrity, responsibility, and stewardship, supported by a company with a strong legacy and a future-focused mindset.

Salary Range:
$144,800-$190,000

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.

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. We welcome all persons to apply.

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.