Lead Life Pricing Actuary

MassMutual; Boston (MA); On-site; USD 159,000 - 210,000; Full time

Job summary

Join a leading mutual life insurance company as a Life Pricing Lead, where you will influence the development and pricing of innovative Life products. Our Life Pricing team works collaboratively to ensure products are competitive and aligned with customer needs. With a strong focus on leadership and strategic initiatives, you will utilize your actuarial expertise to drive business growth and success.

Benefits

Competitive salaries

Bonus opportunities

Inclusive and diverse culture

Strong benefits package

Qualifications

• 10+ years of experience in actuarial roles.
• Experience in Retail Life pricing and product development preferred.
• Ability to manage multiple projects concurrently.

Responsibilities

• Lead the pricing of new and existing Life insurance products.
• Collaborate with various stakeholders for pricing competitiveness.
• Ownership of pricing models utilized by the Life Product team.

Skills

Actuarial modeling

Leadership

Strategic initiative execution

Education

FSA

Member of the American Academy of Actuaries

Tools

Axis

Prophet

Python

R

VBA

Job description

The Opportunity

As a Life Pricing Lead, you will work on the development and pricing of our Whole Life, Term, UL, VUL, and LTC combination products. You will work in a collaborative environment and partner with several different stakeholders including distribution and corporate finance. This is a highly visible and influential role working with the core suite of Life products at a leading mutual life insurance company.

The Team

As part of the Brand, Product, and Affiliated Distribution organization and the Life Product Development team, the Life Pricing team is a motivated group of actuaries and quantitative consultants who develop innovative products and pricing methodologies across a broad suite of Life products. We help ensure the continued growth of our core whole life franchise while diversifying our offerings to provide solutions to more customers. We collaborate with key partners across the organization to ensure our product suite is competitive and aligned to meet the needs of our customers, while delivering value to MassMutual.

The Impact
• Lead the pricing of new and existing Life insurance products
• Assist in prototyping activities around the evaluation of new product features
• Collaborate with distribution, reinsurance, risk management, and corporate actuarial to price products within our risk tolerance while balancing competitiveness and profitability
• Ownership of the pricing and profitability models utilized by the Life Product team
• Influence and provide key contributions to ongoing business strategy and growth
• Lead the pricing review and approval process with both the corporate actuarial and product teams
• Lead other ad hoc strategic actuarial projects for our Life product portfolio as needed

The Minimum Qualifications
• An accomplished FSA
• Member in good standing of the American Academy of Actuaries
• Experience with developing and maintaining actuarial models, either in actuarial software or bespoke models (i.e. Axis, Prophet, Python, R, VBA)
• 10+ years of experience in actuarial roles
• Disciplined approach to strategic initiatives, business projects, and day-to-day activities
• Demonstrated ability to effectively manage and deliver on multiple concurrent deliverables
• Ability to lead and influence others and drive engagement on large projects with multiple functional areas

The Ideal Qualifications
• 5+ years of experience in Retail Life pricing and product development
• Knowledgeable in relevant products and services, investments, financials, laws and regulations, industry standards and the competitive environment
• Demonstrated success dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem
• Ability to analyze and comprehend complex information, as well as convey complex materials to non-technical audiences
• Demonstrated ability to execute strategic initiatives, business projects, and day-to-day activities simultaneously.
• Experience with programming languages and models that are built in programming languages
• Demonstrated high potential to take on greater responsibilities

#LI-IZ1

Salary Range:

$159,800.00-$209,700.00

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 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, pleasecontact usand 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.